Student Coin (STC), a well-known crypto project, is closing.
Thus, it requires all token holders within the STC Wallet to redeem their tokens before October 9, 2024, by submitting a Redemption Request and requires direct contact with the Student Coin team.
How to Redeem Your STC Tokens
The Student Coin team has implemented a multi-stage redemption process that has been in place for over five years to ensure transparency and user support.
The first and second deadlines for redeeming tokens within the STC wallet (automatically) and through centralized exchanges have already passed in June.
The third stage, set to end on October 9, 2024, involves submitting a Redemption Request and requires direct contact with the Student Coin team.
The final phase, which will continue until April 9, 2029, allows users to sell their tokens on-chain.
Moreover, according to recent announcements, 82,86% of the total supply of STC and 100% of the tokens held by the team have already been burned. Additionally, between May 30 and June 15, the tokens were delisted from KuCoin, ProBit Global, HitBTC, and all remaining centralized exchanges.
Manual Redemption via OTC Redemption Request: This method requires KYC/KYB procedures, AML checks, and submitting documents until October 9, 2024.
On-chain Redemption: This option is available until April 9, 2029, and allows users to choose between converting tokens to USDC on Uniswap V3 (recommended for smaller volumes) or sending tokens directly to the burn address (recommended for larger volumes).
As an alternative, recommended for larger amounts, you can use an on-chain burn procedure by simply sending all your STC tokens to the burn address directly from your self-custody wallet. In return, the STC team will transfer you an adequate value in USDC.
The redemption prices range between $0.006 and $0.0137 per token and vary based on particular accounts’ purchase history and activity. This approach rewards loyal users, long-term holders, Premium Program members, and direct purchases via STC Wallet.
About Student Coin
Student Coin, a project launched in 2019 in a Polish business school aimed to explore blockchain technology, is now shutting down. The project led to further initiatives, including creating the STC Wallet, launching the STC Academy, and, finally, establishing Coinpaper, currently one of the leading crypto news portals.
However, economic turmoil, industry scandals, and regulations slowed their momentum.
Despite navigating these challenges and prioritizing user protection during major crypto crashes, the Student Coin team made the difficult decision to sunset the STC token and related projects.
Learn More
Visit Student Coins‘ official website and follow them on social media platforms like X (Twitter) and Telegram to stay updated with the redemption process.
