What is STACK (STK)
The STK token will enable real time point of sale (POS) transactions directly from users’ private cryptocurrency wallets. We predict the ability to make purchases in-store and online using cryptocurrencies will speed up mass adoption of the technology. The STK token is part of a global solution to facilitate borderless transactions. To make instant payments at point of sale from a blockchain wallet requires we do a real-time exchange of cryptocurrency into fat. The STK token provides access to our state channels which a) ensure there is suffcient cryptocurrency (i.e. Bitcoin, Ether) in the digital wallet and b) users spending fat at point of sale will complete the purchase from their cryptocurrency assets. STK automatically opens a state channel between each user and STK’s own wallet. STK tokens fund the transaction, much like gas funds Ethereum transactions. The frst implementation will be with STACK’s digital wallet. STK tokens will be implemented on the public Ethereum blockchain and adhere to the ERC20 protocol.
STK Global Payment’s vision is to create a globally accessible alternative to traditional banking, allowing you to store your money safely, access it instantly and transact with it anywhere, in any currency including crypto by using the STK token, right from your smartphone, using the STACK app. Creating a digital wallet as a companion to a traditional card solution, the STACK app enables you to use any of your currencies at point of sale, anywhere in the world.
STK WILL BE A PLATFORM THAT WILL FACILITATE REAL-TIME CRYPTOCURRENCY TRANSACTIONS AT POINT OF SALE.
STK SOLUTION: STK STATE CHANNEL AND STK TOKEN
There is a two-pronged problem that the STK solution will solve:
- A lack of merchant acceptance of cryptocurrency.
STACK has partnered with an existing payment network that will allow the cryptocurrency wallet to be used at 39 million merchant locations.
- Payments at point-of-sale must complete in near-instant time.
Rather than writing each payment transaction to the blockchain, STACK, will create State Channels between the customer and STACK. These channels are an established way to provide real time transaction guarantees on the blockchain. Once this is done, customers’ transactions will be funded through STK’s liquidity pool to make point of sale purchases instantly.
To use this system, the user is required to hold a STK token which grant access to the STK State Channel and will be limited to those who have STK tokens.
STK IS A SOLUTION THAT CAN BE IMPLEMENTED GLOBALLY, WITH THE FIRST IMPLEMENTATION OCCURRING WITH STACK
In order for users of the STACK wallet to transact in real-time, the STK solution will be integrated into the STACK digital multi-currency wallet. This functionality can only be accessed with a STK token. The STK token will be used to pay for the operating cost of setting up the State Channel. Because STK tokens can change in value, the price per transaction is calculated similarly to how gas prices are on Ethereum.
Pre-sales: Oct 30, 2017 – Nov 12, 2017
Public sales: Jan 31, 2018 – Feb 14, 2018
Pre-sale token supply: 1,250,000
Total tokens for sale: 550,000,000 STK
Soft cap: 3,600 ETH
Hard cap: 321,430 ETH
Raised: 17,000,000 USD
Blockchain Platform: Ethereum
Token standard: ERC-20
Token price in USD: 1 STK = 0.16 USD
Accepted currencies: ETH