Friday, November 8, 2024 – The Student Coin Team marked its culmination by launching a comprehensive STC Token Redemption process, report on October 29 said.
The decision of culminating the project was followed by the $STC token redemption. The tokens had been repurchased at a higher price than the market value, the announcement read.
The existing funds were allocated for the token redemption plan, and all tokens of Student Coin were burned as an immediate security action.
The announcement said that the deadline for the redemption of $STC tokens at the STC wallet was October 9.
It is reported that 93.9% of STC tokens had been burned and redeemed, according to the announcement of October 9 said.
The users holding tokens at MetaMask, Ledger, Coinbase Wallet, or other DeFi wallets are enabled to perform the on-chain burn process until April 9, 2029.
The funds remaining will be provided for the crypto charity organizations to empower the crypto community in developing countries, the announcement read.
The Student Coin project was initiated by a group of undergraduates of Kozminski University in Poland and initiated under ALK Token in 2019.
However it faced a range of challenges that resulted in the winding up of its operations.
The announcements of Student Coin are available here: https://www.studentcoin.org/
