Introduction

Decentralized Autonomous Organizations (DAOs) have the potential to create a more democratic and transparent crypto space. However, the current state of Layer 1 blockchains, like Ethereum, is holding them back. The high gas costs and slow transaction speeds on Ethereum create friction for decentralized applications, leading to an inefficient, centralized, and unscalable ecosystem. Furthermore, the current infrastructure for DAOs hinders user adoption, lacks incentives, and falls short of educating and converting market potential.

To address these challenges, STP has launched Verse Network, a full suite of native tools and infrastructures facilitating efficient decentralized decision-making for users, communities, and organizations. By leveraging a Layer 2 solution, Verse Network provides faster and cheaper transactions compared to the current state of Layer 1 blockchains. Also, Verse Network provides additional features and tools such as reputation systems and funding mechanisms, creating a more robust ecosystem for DAOs.

What is Verse Network by STP?

The Standard Tokenization Protocol (STP) is a decentralized open-source protocol designed to facilitate the tokenization of assets, such as real estate, art, stocks, or other financial instruments, on the blockchain.

In early 2021, STP announced the launch of the Verse Network, which is a suite of tools and infrastructure designed to facilitate efficient decentralized decision-making for users, communities, and organizations. Verse Network by STP is a DAO ecosystem built on the Ankr BNB Chain-Application-Sidechain framework. Its mission is to make DAOs more accessible and efficient by removing entry barriers like high gas fees and complicated user experiences.

The Verse Network includes a variety of tools and infrastructures that enable users, communities, and organizations to make decentralized decisions. It is made up of modules that enable advanced governance, efficient tokenomics, and cross-chain functionality.

The importance of Verse Network stems from its ability to address the limitations of existing layer 1 blockchains and provide a more scalable and sustainable infrastructure for DAOs, providing a user-friendly and streamlined experience for both developers and end users, while promoting the wider adoption of DeFi concepts and activities.

The native token of Verse Network is STPT, which serves various utility functions within the ecosystem, including governance, transaction fees, and liquidity incentives.

History of Standard Tokenization Protocol (STP)

STP was created in 2018 by a team of blockchain and fintech experts led by Mike Chen, the CEO of Block72, a blockchain consulting firm, and the founder of the US-China Blockchain Association. The team included experienced professionals from the finance, legal, and blockchain industries.

The team recognized that while blockchain technology had the potential to revolutionize the way assets are managed and traded, there were significant barriers to entry, including the lack of interoperability between different blockchains and the complexity of creating and managing tokens.

The STP protocol was launched on the Ethereum blockchain, with the team announcing it had completed a successful test of the protocol and the issuance of a tokenized real estate investment trust (REIT) on the blockchain.

STP launched Verse Network to facilitate wide accessibility for DAOs. The launch is a significant step for STP, as it represents a move towards creating a more efficient and accessible ecosystem for decentralized decision-making. The protocol has great prospects and it will be interesting to see how it evolves and what new features and tools are added to the platform.

How Verse Network by STP Works with DAOs

Source: STP Network - Product

The Verse Network facilitates the entire lifecycle of DAOs, from creation to maturity, and supports a range of customized DAO tooling and DAO-focused dApps.

The types of dApps and tools supported by Verse network include DAO builder dApps, DAO participation dApps, DAO reputation dApps, DAO market data tools, as well as other categories and tools, such as data & analytics, treasury management, and tailored customization of DAO structures.

Verse Network by STP Ecosystem

Source: STP Network - Ecosystem

The Verse Network ecosystem is built on Ankr’s BNB Chain-Application-Sidechain (BAS) solution, which offers high throughput, ultra-low gas fees, and full EVM compatibility. This provides a stable, scalable, customizable, and secure blockchain architecture that is well-suited for the development of DAOs.

The Verse ecosystem supports customized DAO tooling along with DAO-focused dApps, including DAO builder dApps, DAO participation dApps, DAO reputation dApps, and DAO market data tools. The ecosystem aims to provide full-service tooling for DAOs and all their stakeholders, making it easier for organizations to create and manage their customized DAOs seamlessly.

In the future, Verse Network plans to expand its ecosystem with additional categories and tools, such as data and analytics, treasury management, and tailored customization of DAO structures.

Verse Network Technology Architecture

Source: STP Network - Technology

The architecture of the Verse Network, powered by Ankr BNB Chain-Application-Sidechain (BAS), offers several advantages, including flexibility, convenience, and ease of use. The modular design of the blockchain architecture allows for customization and scalability, which is important for any large-scale platform application, including DAOs.

The Parlia Consensus Engine is designed to provide fast and secure consensus, while the Pool & Staking module enables users to stake their STPT tokens and participate in the governance process. The Governance module allows for decentralized decision-making, while the Dynamic Runtime Upgrades module enables easy upgrades and maintenance of the network.

On the other hand, the Reward Management module provides incentives for users to participate in the network, and the use of smart contracts ensures that governance and reward distribution is managed transparently and securely without relying on third-party services.

Roadmap

Source: STP Network - Roadmap

In the first quarter of 2023, Verse Network plans to launch a Community Workspace Management Platform, a Contribution Task Marketplace, and the Clique dApp’s SDK and API. This will allow developers to start building and managing their own decentralized applications (dApps) on the platform.

In the second quarter of 2023, Verse Network aims to launch a Web3 Tooling Aggregator, which will provide a suite of development tools for decentralized applications. They also plan to enable Omnichain DAO Creation & Management, customizable community workspace management platforms, and contribution task marketplaces. Furthermore, the platform will focus on enhancing its dApp SDK and API to provide developers with more features.

In the third and fourth quarters of 2023, Verse Network plans to integrate more workflow tools into its Web3 Tooling Aggregator, making it easier for developers to build decentralized applications. The platform will also launch a developer kit for the Web3 Tooling Aggregator, enabling developers to plug in their DApps with Clique. Finally, Verse network aims to explore the integration of emerging technologies, such as AI and Zero-Knowledge Proof, into DAOs to reduce governance costs and enable privacy.

Partnerships of STP and Verse Network

STP formed several key partnerships with industry leaders and blockchain projects to further its goal of creating an accessible and efficient tokenization industry.

Qtum: In 2019, the STP team announced a partnership with Qtum, a blockchain platform that uses a hybrid consensus mechanism to offer faster transaction times and improved scalability.

Node Capital: In 2019, Node Capital, a prominent blockchain investment firm, invested in the STP project and became a strategic partner. Node Capital has since provided strategic support and guidance to the STP team, helping to promote the adoption and growth of the protocol.

Bittrex Global: In 2020, the STP team announced a partnership with Bittrex Global, a cryptocurrency exchange. The partnership aimed to enable STP-compliant tokens to be listed and traded on the Bittrex Global exchange, providing more liquidity and accessibility for STP users.

KardiaChain: In 2020, the STP team announced a partnership with KardiaChain, a blockchain platform that offers cross-chain interoperability and fast transaction speeds. The partnership aimed to enable STP-compliant tokens to be created and issued on the KardiaChain platform, expanding the reach and accessibility of the protocol.

NEM: In 2021, the STP team announced a partnership with NEM, a blockchain platform that offers enterprise-grade solutions for businesses. The partnership aimed to enable STP-compliant tokens to be created and issued on the NEM blockchain, providing more options and flexibility for STP users.

Further, the Verse network, developed by STP, has partnered with leading blockchain and crypto companies to enhance the functionality and utility of the network:

Ankr: The Verse network is built on Ankr’s BNB Chain-Application-Sidechain (BAS) solution, which offers a scalable and secure blockchain architecture.

Chainlink: The network is integrating with Chainlink’s decentralized oracle network to provide reliable and accurate data feeds for smart contracts and dApps on the ecosystem.

Moonbeam: The Verse network is partnering with Moonbeam to expand its ecosystem to Polkadot, allowing interoperability and cross-chain compatibility.

MANTRA DAO: The protocol has formed a strategic partnership with MANTRA DAO, a community-governed DeFi platform, to enhance the governance and liquidity of the ecosystem.

How STP Transformed Tokenization

• Reduced Friction: STP reduced friction in the tokenization industry by providing a more standardized and streamlined platform for token creation, issuance, and trading.
• Enhanced Flexibility: STP enabled issuers to create a wide range of tokens with different features and use cases, including security tokens, utility tokens, and non-fungible tokens (NFTs).
• Increased Transparency: The STP protocol incorporates transparency features that can enhance trust and confidence in the tokenization industry.
• Improved Scalability: STP is designed to be a highly scalable protocol that can support a large number of transactions and users.

Advantages of Verse Network for DAOs

• Scalable and low-cost: The Verse Network is built on a scalable sidechain solution, which offers high throughput, ultra-low gas fees, and full EVM compatibility. This enables users to create and manage DAOs on the platform seamlessly and at a low cost.
• User-friendly: The ecosystem includes a range of user-friendly dApps and customized DAO tooling, making it easy for organizations and their stakeholders to participate in DAOs in a frictionless way across platforms.
• Transparent and community-driven governance: The governance of the Verse Network is based on a decentralized autonomous organization structure, which ensures that decisions are made in a fair and democratic way by STPT holders.
• Interoperability and cross-chain compatibility: The Verse Network is integrated with several leading blockchain and crypto companies, including Moonbeam, allowing for interoperability and cross-chain compatibility.
• Enhanced functionality and utility: The ecosystem includes a range of DAO-focused dApps, such as DAO participation dApps, DAO reputation dApps, and DAO market data tools, which provide users with actionable and analytical data to inform their decision-making.

Risks of Verse Network by STP

• Technical Risks: As with any blockchain-based protocol, Verse Network is vulnerable to technical risks such as hacks, bugs, and other software vulnerabilities. These risks can potentially compromise the security and integrity of the protocol and the tokens created on it.
• Regulatory Risks: The regulatory landscape around blockchain and crypto is constantly evolving, and changes in regulations could impact the development and adoption of the Verse Network.
• Market Risk: The price of STPT is subject to market volatility and could be affected by factors such as market sentiment, news events, and overall market conditions.
• Governance Risk: The governance of the Verse Network is based on a DAO structure, which relies on the participation of STP token holders. If there is low participation or a lack of engagement from STP holders, it could impact the effectiveness and legitimacy of the governance process.
• Adoption Risk: The success of the Verse Network relies on its adoption by users and institutions. If there is low adoption or interest in the platform, it could impact the overall growth and sustainability of the ecosystem.

What is STPT?

Source: STP Network - STPT Token

The Verse Network by STP has its own native utility and governance token, known as the STP token (STPT). It is an ERC-20 token that is used to facilitate the creation, issuance, and management of other tokens on the STP platform. The STPT can be used to pay for transaction fees, such as gas fees, on the Verse network, and it can also be staked to earn rewards for participating in the governance process.

As the governance token of the Verse network, STPT holders can participate in decision-making for the ecosystem, including proposing and voting on changes to the protocol, electing validators, and deciding on reward distributions. STPT also has utility within the broader STP ecosystem, where it can be used for various applications, including payment for services and products, staking, and liquidity provision.

Tokenomics

Token economics for STPT are designed to incentivize active participation in the Verse ecosystem. STPT holders can stake their tokens to participate in governance and earn rewards. They can also use their tokens to vote on proposals and receive incentives for their participation. Network transactions require the token, with fees paid in STPT creating demand for the token and raising its value.

Verse network has a total supply of 10 billion STPT, with 4 billion currently in circulation. The remaining tokens will be gradually released over the next 4 years through various mechanisms, such as liquidity mining and community incentives. The all-time high for STPT was achieved on October 6, 2021, with a value of $0.2703 per token. In contrast, the all-time low for STPT was recorded on October 1, 2019, with a value of $0.0058 per token.

Governance

The governance of the STP token is carried out through a DAO that is built on top of the STP platform. The DAO is composed of token holders who are able to vote on important decisions such as network upgrades, changes to token economics, and other key decisions that affect the future of the platform.

One of the key features of the STP governance model is its focus on community involvement and participation. Verse network is designed to be a community-driven platform that is steered by the needs and desires of its users, as such, the governance of the platform is designed to be as democratic and decentralized as possible, with token holders able to propose and vote on changes to the platform.

The Potential Value Appreciation for STPT Holders

In addition to governance benefits, holding STPT also provides access to new token offerings and discounts on transaction fees. Token holders are able to participate in token sales and other token offerings on the platform, and they are able to do so at a discount compared to non-token holders. This can provide significant savings for investors who are looking to participate in new token offerings on the platform.

Furthermore, holding STPT can provide a way to participate in the growth and success of the Verse network. As more users and projects adopt the network, the demand for the STP token is likely to increase, leading to an increase in its value, which can provide significant returns for early adopters and investors.

Some Merits of Verse Network by STP

• Strong Partnerships: The Verse network by STP has forged partnerships with several well-known companies in the blockchain and cryptocurrency space, including Ankr, Chainlink, and Elrond. These partnerships could help to drive the adoption of the network and increase demand for the STPT token.
• Token Economics: The STPT token has a strong tokenomics model with a deflationary mechanism built in through token burning. This could help increase the token’s value over time as the supply decreases.
• Experienced Team: The team behind STP and Verse network includes experienced entrepreneurs, developers, and advisors with a strong track record in the blockchain and cryptocurrency space. This could provide investors with confidence in the team’s ability to execute the project’s vision.
• Growing Market: The DeFi market, of which DAOs are a part, is rapidly growing and attracting significant investment. This could provide a favorable environment for the adoption and growth of the Verse network and the STPT token.

Note: Investing in cryptocurrencies and DeFi platforms comes with a high level of risk. It is advisable to conduct extensive research and consult a financial expert before making any investment decisions.

How to Own STPT

You can own STPT via a crypto centralized exchange. You can start by creating a Gate.io account. Once the account is verified and funded, find out the steps to buy STPT. In a nutshell, you can do this via flash swap, trading the spot market, or even using leverage.

Conclusion

Verse Network by STP is a promising DAO ecosystem that aims to make DAOs more accessible, efficient, and user-friendly. Built on the BAS framework, Verse Network’s multi-modular blockchain architecture offers scalability, customizability, and security to its users; making DAOs more accessible by addressing the key challenges of high gas fees, complex voting mechanisms, and complicated user experiences. Verse Network is poised to drive greater adoption and support for the DAO concept, and help unlock the true potential of decentralized finance.