What is STP?

STP, also known as Standard Tokenization Protocol, is a project that seeks to establish an identity layer for Autonomous Worlds. It strives to offer stability, scalability, customizability, and security. Its platform, Clique AW, uses account abstraction to support the next wave of builders and users in Autonomous Worlds. STP also launched Verse Network, a suite of native tools and infrastructures that aim to make decentralized decision-making more efficient for users, communities, and organizations. The Verse Network intends to make Decentralized Autonomous Organizations (DAOs) more accessible to the masses by removing barriers such as high gas fees, complicated user experiences, and complex methods of voting and governance.

How does STP work?

STP operates by leveraging the power of blockchain technology. Its Verse Network is powered by the Ankr BNB Chain-Application-Sidechain (BAS) framework, which is built with flexible, convenient, and easy-to-use multi-modular blockchain architecture. The core modules of this architecture include the Parlia Consensus Engine, Pool Staking, Governance, Dynamic Runtime Upgrades, and Reward Management. These modules are built with System Smart Contract and Ethereum Virtual Machine (EVM) machines. The Verse Network's chain strives to offer stability, scalability, customizability, and security. All transactions on Verse require STP's native token, STPT, as gas.

What are the potential use cases for STP?

STP has a wide range of potential use cases, particularly in the realm of DAOs. It seeks to facilitate DAO activity from inception to maturity by supporting customized DAO tooling along with DAO-focused decentralized applications (dApps) in its ecosystem. These dApps can include DAO builder dApps that allow organizations to create and manage their customized DAOs seamlessly, DAO participation dApps that expand the ability and incentives for members to participate in DAOs in a frictionless way across platforms, and DAO reputation dApps that score credibility and reputation based on past activity like voting. STP also aims to provide DAO market data tools that offer DAO-related data to all types of users in an actionable and analytical way.

What is the history of STP?

The history of STP is rooted in its mission to build and scale an identity layer for Autonomous Worlds. Recognizing the limitations of layer 1 blockchains like Ethereum, particularly in terms of high gas costs and slow transaction speeds, STP developed a solution with the intention of making DAOs more accessible and efficient. The Verse Network was launched in Q4 of 2021, a full suite of native tools and infrastructures designed to facilitate efficient decentralized decision-making. STP's native token, STPT, is utilized as the governance token for Verse Network and its broader DAO ecosystem.