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ANNOUNCEMENT

09/04/2024


Dear Student Coin Community,

‍

After a detailed analysis and careful consideration of our situation, resources,
and opportunities, we have reached the hard decision to discontinue the Student
Coin project and use all of the remaining resources to repurchase all $STC
Tokens. This decision, although difficult, is made with the highest
responsibility towards our community.

‍

We have resolved to initiate the process of closing the Student Coin and redeem
all $STC Tokens. Our priority is a transparent and fair repurchase strategy for
all token holders. The $STC Token Redemption plan will be calculated on an
individual basis, taking into account the varied ways tokens were acquired, such
as purchase prices, airdrops, and bonuses, to ensure fairness and equality.

‍

$STC Token Redemption will be conducted at a Price Above Market Value: In
recognition of your support, the repurchase price will be significantly higher
than the current market rate.

Funds Allocation for Token Redemption: We are dedicating all of our current
funds, which were intended for project development, to the token redemption
process. This constitutes 91.5% of our project's total historical funding,
ensuring a fair and complete redemption for all token holders.

Immediate Token Burn: All tokens currently held by the Student Coin treasury
will be immediately burned, with no redemption value. This action exceeds our
initial promise and improves the value proposition for our community.

‍

We are profoundly thankful for your support during this journey and are
committed to ensuring a seamless transition during this period. We encourage you
to review the detailed information about our history, reasons, and the
procedures that will be helpful during the entire process.

‍

Thank you for your trust and support.

‍

Kind regards,

The Student Coin Team

‍

‍

‍




REDEEM:

KuCoin →Uniswap →
Go to Wallet →


$STC TOKEN REDEMPTION ANNOUNCEMENT

‍


INTRODUCTION

In an important decision marking the culmination of our journey, the Student
Coin Team has resolved to conclude the project, initiating a comprehensive $STC
Token Redemption process. This decision reflects our commitment to integrity and
the best interests of our community, ensuring a structured and equitable closure
that will allow all the $STC Token holders to redeem or sell their tokens for
USDC at a fair price.

‍

The journey of Student Coin since its inception has been remarkable,
characterized by innovation, community engagement, and the pursuit of
democratizing financial education through blockchain technology. Despite our
successes and the creation of valuable educational resources and platforms like
STC University and Coinpaper, the evolving challenges and market dynamics have
led us to this difficult but necessary decision. The redemption and sale process
is designed to honor the trust and investment our community has placed in us,
providing a transparent pathway for all the token holders.

‍

Throughout this transition, our focus remains steadfast on ensuring fairness for
all the groups of holders and honoring the commitment of every community member.
With an above market price redemption range between $0.006 and $0.0137, we are
committed to making the process as seamless as possible, providing detailed
guidance and robust support at each step. The redemption price will vary based
on each token's history, offering higher values for tokens purchased via STC
Wallet or received through active engagement in the Premium Holder Program,
while assigning lower values to tokens acquired on the open market or received
as complimentary bonuses and airdrops. As we approach this final chapter, our
gratitude towards our supportive community is boundless, and we eagerly
anticipate the enduring impact of Student Coin's legacy on future blockchain
innovations.

‍

‍


1. STUDENT COIN HISTORY AND ITS SUMMARY

‍

Student Coin was initiated by a group of undergraduate students at Kozminski
University in Warsaw, Poland, in 2019. Initially named "ALK Token," its primary
utility was to explore blockchain capabilities, including sending, receiving,
and converting tokens. The successful outcome of this experiment encouraged us
to pursue our vision of imparting blockchain knowledge through practical
application, leading to airdrops of the token to students at Kozminski
University and other Polish universities. The overwhelming support prompted us
to list the token on the Waves Exchange and launch international airdrops. By
the end of 2020, we will have reached more than 15,000 students from more than
500 universities around the world, enabling anyone with a valid student ID to
claim free student coins.

In the project's early stages, we aimed to add substantial value to the $STC
Token. We established the STC Academy (called initially the STC Educational
Panel), a comprehensive online resource covering blockchain, cryptocurrencies,
and personal crypto security. Encouraged by the growing enthusiasm within our
community, we sought funding to develop more sophisticated project elements,
such as a wallet, exchange, and terminal, enabling students to create their
tokens. A pre-launchpad at the end of 2020, pricing the token at USD 0.0025,
significantly accelerated our development, allowing us to enlarge our team and
secure listings on Uniswap and the first centralized exchange.

February 2021 marked the beginning of the STC Launchpad, which expanded our
community from 20,000 to over 200,000 users and facilitated the sale of $STC
Tokens at remarkable valuations. We were immensely grateful to the
cryptocurrency community for this opportunity, which enabled us to expand our
business and technical teams and introduce additional projects under the Student
Coin banner. The $STC Token was also listed on over ten exchanges, including
major platforms like KuCoin, Bittrex, and Bithumb Global.

By the end of 2021, we had launched an upgraded version of the STC Wallet,
introduced the STC Terminal for custom token creation, and established
Coinpaper, a crypto news portal. In 2022, we co-developed the DeFi derivative
exchange Logium, enhanced the STC Educational Panel to the STC Academy, and
updated the STC Wallet. We also revised some initial strategies, such as
university-based tokens and startup crowdfunding support, as we faced obstacles
we did not foresee in advance. A rapidly changing environment caused some of
these circumstances, and others originated from lack of practical experience
about the various elements of the initiatives we intended to undertake.

In 2023, we launched STC University, an advanced version of the STC Academy
offering comprehensive blockchain education and produced numerous educational
videos about cryptocurrencies. Coinpaper experienced significant growth, with an
active user increase rate of nearly 19,75% each month.

Throughout the project, our legal and finance teams worked diligently behind the
scenes to protect the project's funds from major collapses in the crypto world
such as Luna, UST, FTX, Genesis or Celsius and navigate through bear markets and
legal uncertainties.

As of April 2024, we can summarize our significant achievements and candidly
address the goals we did not meet, explaining these shortfalls.

‍

‍Achievements:

 * Engaged a community of over 300,000 users
 * Listed the token on more than 10 exchanges, including KuCoin, HitBTC, and
   Bittrex
 * Generated over 300 million impressions in our campaigns
 * Collaborated with more than 20 partners in education, software, and legal
   fields, such as SSRN, multiple academic clubs and software-houses
 * Directly employed over 80 individuals throughout the project's lifespan
 * Produced over 2,000 pages of educational material on digital currencies
 * Recorded more than 50 hours of educational content on digital currencies
 * Educated over 210,000 individuals through STC University and STC Academy
 * Reached over 15,000 students globally
 * Backed $STC Token through partner-based token acquisitions and the Premium
   Holder Program
 * Developed the STC Wallet and STC Converter applications
 * Launched the STC Terminal for creating diverse tokens
 * Introduced mobile versions of the STC Wallet on the AppStore and Google Play
   with over 80,000 downloads
 * Established Coinpaper.com, a rapidly growing crypto news portal
 * Reached 60,000 monthly active users at Coinpaper
 * Participated in multiple conferences worldwide
 * Co-created a Decentralized Exchange for derivatives
 * Launched two popular newsletters via Coinpaper and STC University with over
   30,000 subscribers
 * Allocated project’s cash equivalents in the responsible way to deliver over
   the market interests with minimal risk that significantly minimized the total
   costs
 * Safeguarded the project's finances through STC Research and Finance unit
   during various crypto bankruptcies
 * Successful managed of project’s finances during the USD and Anchor Protocol
   collapse
 * Secured the total funding during the Celsius, FTX, and Genesis collapses
 * Minimized project business service costs through proper process management
   and building internal know-how
 * Performed ongoing monitoring of the market and legal and financial
   environment, so that legal strategies were implemented and the corporate
   structure was modeled before real problems in these sectors occurred 
 * Performed ongoing tax optimization that has reduced project costs to the
   minimum legally possible


Having outlined our achievements, it's essential to reflect on the challenges
that hindered further development.

‍

‍Unrealized Goals:

 * Widespread Promotion of STC Terminal: We aimed for a large-scale promotion of
   the STC Terminal. However, this was not possible due to fewer people than
   expected wanting to create and use their own personal tokens. 
 * Launch of University-Based Tokens: Our goal to launch official
   university-based tokens faced challenges. Despite multiple discussions,
   universities were hesitant due to their difficulty in integrating
   cryptocurrencies into their daily operations. 
 * Startup Launchpads with Partner Projects: We intended to launch multiple
   startup launchpads in collaboration with partner projects. This goal was
   hindered by the low quality of projects that approached us for launch on the
   STC Terminal and STC Wallet. 
 * Development of STC Wallet and Logium: We aimed to fully develop the STC
   Wallet and Logium into popular cryptocurrency exchanges. This was not
   achievable within our maximal commitment to operate entirely within certain
   legal and regulatory frameworks. 
 * Token Pricing Levels of 2021: We hoped to reach the token pricing levels seen
   in 2021. However, this was not possible as we focused on building the
   project's value fundamentally rather than concentrating on marketing
   expenditures.

‍

A significant hurdle was encountered with the STC Terminal. We envisioned a
world where individuals, organizations, and startups would each have their
utility tokens, similar to how $STC Tokens were aimed to function within our
community. This vision would allow for greater engagement and decision-making
among community members. However, our outreach to various universities,
including prestigious institutions, revealed widespread opposition to issuing
digital assets due to legal uncertainties. Additionally, our efforts to promote
the STC Terminal as a platform for token-based startups did not attract
candidates who met our criteria for sustainable, value-driven projects. These
circumstances undermined the relevance of the STC Terminal, calling into
question the assumption of a world where everything is tokenized. We also took
steps to develop the operation of the Terminal using other principles.
Ultimately, we concluded that we must focus on other projects within Student
Coin.

Our goal to establish STC Wallet as a comprehensive exchange faced similar
obstacles. Initially, we aimed to create an STC Exchange supporting
crypto-to-crypto and crypto-to-fiat transactions. However, a thorough legal
analysis and observation of risks, compounded by the collapse of other exchanges
like FTX, led us to reconsider the plan. We opted for a partnership to create a
non-centralized exchange, Logium, which did not progress satisfactorily despite
its innovative approach. We have performed our role within the framework of this
partnership and have decided not to expand it, as the entire project did not
progress satisfactorily. Consequently, we decided to maintain STC Convert as a
functional exchange feature within the STC Wallet instead of launching it as a
separate entity.

Lastly, our objective was not achieved to restore the $STC Token's value to its
2021 highs. This shortfall was due to our inability to scale the project as
anticipated and a significant overvaluation in 2021. Despite our efforts to
support the token through market operations, liquidity provision, and marketing,
the bearish market sentiment proved too strong, resulting in unsatisfactory
performance.

Facing these challenges has led us to reassess our approach and premises. We've
concluded that creating fundamental value for the $STC Token on our desired
scale is nearly unattainable, leaving us three paths: continue as is with little
hope for improvement, pivot to a new token with fresh speculative value, or
initiate a comprehensive token redemption. As we do not want to build a
speculative token that will spend all of its money on marketing to increase the
price, or become a meme coin, we believe the most ethical choice is to proceed
with redeeming the $STC Tokens, acknowledging the inability of satisfying our
community under current conditions.We aimed to provide a comprehensive
understanding of the project's journey better to explain the genesis of the STC
Token Redemption decision.

‍


2. THE GENESIS OF THE $STC TOKEN REDEMPTION DECISION

‍

The decision to close the Student Coin project was influenced by multiple
factors and needed to be considered at multiple levels. The primary reasons
include challenges with capital allocation to build the token value
fundamentally, legal uncertainty, and significant pressure on the team.

Firstly, the pricing of the $STC Token reached an enormously high pricing of
$0.06599 per token at its All Time High and sustained over $0.02$ during two
months in 2021. The all-time high that occurred after the STC Launchpad
completion meant that token increased over 13 000% from its initial listing in
2019. While this could be seen as a success, it set a very high expectation for
the project to outperform and continually deliver substantial value to the
community. Despite our best efforts, we realized that achieving such significant
value again through creating token utilities in our existing fundamental
initiatives, including the STC University, STC Academy, Coinpaper, STC Wallet,
and STC Terminal, is not feasible. We've observed that increased spending on our
project's development doesn't significantly impact the token price as expected,
indicating that the price is more influenced by unsustainable marketing dynamics
than by its utility and fundamental factors. This realization led us to conclude
that the current allocation of the project's funds was not optimal for the $STC
Token holders, prompting us to rethink the project's future and what we should
do with the remaining funding.

Secondly, our commitment to the principles of decentralization and freedom and
the opportunities that the cryptocurrency world has provided for both our
project and personal development remains strong. We continue to believe that
blockchain technology, in particular, is a great achievement of modern science
and that it will be implemented in many areas of the changing world, not just in
the world of decentralized finance. However, the cryptocurrency landscape has
shifted considerably in recent years, with a growing focus on price speculation
rather than the foundational building of projects. This shift has placed Student
Coin at a significant disadvantage, compounded by our very rigorous adherence to
legal standards in an increasingly complex and uncertain regulatory environment.
High-profile cases like FTX, Genesis, Celsius, and Luna, where leaders have
faced legal consequences, highlight the unpredictable nature of the sector. 

The challenges mentioned have hindered our ability to establish and pursue
long-term objectives due to ongoing legal uncertainties. This environment
restricts us to short-term planning, limiting the development of initiatives
like transforming STC Wallet into a full exchange or expanding STC Terminal for
partner startup crowdfunding, due to potential unforeseen legal repercussions.
The current landscape shows no signs of stabilizing to allow for forward-looking
project planning. This ongoing legal uncertainty and the associated risks have
significantly impeded our project's development, serving as another critical
factor in our decision to close the project.

Finally, the gap between our community's expectations and our project's
potential, alongside the relentless cryptocurrency market uncertainty and risk,
has placed big pressure on our team. Initiated during our college years, Student
Coin was born from a vision that has since evolved. While we are deeply grateful
for the support and lessons learned from the STC community, we have realized
that the cryptocurrency space and Student Coin, by extension, is no longer the
right environment for our future growth and realization of the initial goals of
the STC Wallet or STC Terminal. Consequently, we have made the difficult
decision to give the opportunity to our whole community to redeem and sell the
$STC Tokens above the current market price to us for all of the remaining
project’s funding instead of continuing to use the funds into project’s
development. With the redeeming action, we want to give back to each member of
our community full decision-making power in terms of whether they want to
continue participating in the cryptocurrency market or whether they prefer to
take a different path.

‍Some of you may have harbored hopes for Student Coin to join the top 20
cryptocurrency projects or for the token to revisit its all-time high.
Unfortunately, we believe these outcomes are no longer attainable. We extend our
sincerest apologies to our entire community. As a final act, we are committed to
conducting the $STC Token Redemption and sale in the most professional manner
possible, focusing on rewarding our most loyal supporters and all community
members. Thank you for your understanding.

As we have explained the main reasons behind our decision and the project's
story, we would like to provide a comprehensive overview of the $STC Token
Redemption process and sale. This will encompass community structure,
assumptions, and the procedure for the $STC Token Redemption.

‍

‍


$STC TOKEN REDEMPTION FUNDING AND BACKGROUND

‍

The $STC Token Redemption will be a very complex process due to the long history
of the project and the complex community structure. Designing this process
presented numerous challenges, leading us to establish certain principles to
ensure a fair distribution of redemption value.

Key challenges included determining a fair redemption price, deciding between a
uniform price or an individual approach based on specific circumstances,
categorizing user groups for redemption, and structuring the redemption process.

‍We also would like to remind, that as a private entity, Student Coin is not
obligated to redeem or buy all existing $STC Tokens, given that $STC is a
utility token, and not a security tied to company shares or direct business
outcomes. The distribution of the total funding is solely at the decision of the
Student Coin team.

It should be noted that Student Coin is not obliged by any commonly applicable
law to carry out a token redeeming operation. It is not an operation in the
nature of a legal action under the law of financial markets or financial
operations in the unregulated markets of the respective countries. Any action
taken in a redeeming action is in the nature of a legal transaction between the
Student Coin as a project and the community member concerned carried out under
freedom of contract.

‍Nevertheless, we believe that redeeming the tokens is a moral imperative and
the right way to reciprocate the community's involvement and faith, whether
through token purchase or contribution to the project.

‍


‍TOTAL FUNDING, EXPENDITURES, AND REVENUES

‍Assessing a just redemption value was also challenging due to the complicated
history of the project's funding. Our total funding derived from diverse sources
like: $STC Token open market sales in the whole project history, pre-Launchpad
in 2020, STC Launchpad in 2021, OTC deals, and partnerships, plus all revenues
from operational activities. At the other side, the crucial expenditures
included marketing (-9%), exchange listings (-4%), market liquidity provisions
pre-2023 (-4%), software expenses (-3%), team expenses (-4%), and other costs,
totaling -25.8% of our total funding. However, interest from USDC allocations,
project revenues, and treasury management post-2023 reduced the above mentioned
costs to only -8.5% from our total funding. Consequently, we're able to allocate
91.5% of our total funding towards $STC Token Redemption and open market buy
liquidity, reflecting our commitment to providing equitable value back to our
token holders.

‍


‍TOKEN REDEMPTION PRICE RANGE

After careful consideration, we've decided to set the redemption price range
between $0.006 and $0.0137 per token, depending on purchase history and account
activity.We debated whether to use a single redemption price for all or to
adjust prices on an individual basis. Our conclusion was to maintain a
relatively consistent price across groups but to particularly reward our
long-term holders, Premium Holder Program participants, and those who purchased
tokens directly with STC Wallet.

‍



4. $STC TOKEN HOLDERS COMMUNITY STRUCTURE AND HISTORY

‍

To facilitate a fair redemption, we've identified thirteen distinct groups of
$STC token holders, considering their activity history, initial price levels,
and considerations for determining their respective redemption values. This
approach ensures a tailored and equitable process for all involved.


‍STC LAUNCHPAD PARTICIPANTS

‍Our primary focus is on STC Launchpad participants from 2021, especially those
participating in the Premium Holder Program and active members of our Telegram
Chat. It's noteworthy that Launchpad participants bought $STC Tokens at prices
ranging from $0.005 to $0.0221, with various bonuses potentially reducing their
effective purchase price by up to 50%. During the purchase with STC Wallet, STC
Launchpad participants could experience the following bonuses:

 * 30% STC referral bonus (including self-referrals)
 * 20% ETH referral bonus (including self-referrals)
 * Up to 10% referee bonus
 * Up to 10% purchase bonus (related to the method of payment)

The bonuses were used by over 93% of STC Launchpad users. Consequently, the
bonus-adjusted price range for these participants is estimated at $0.0033 to
$0.0147, with a weighted average purchase price estimated at $0.0118 per STC.
Tokens acquired during the STC Launchpad will be redeemed from $0.006 to
$0.0137, with the specific amount determined by the real bonus-adjusted purchase
price.


PREMIUM HOLDER PROGRAM PARTICIPANTS

‍We've chosen to especially recognize Premium Holder Program (PHP) participants
for their significant contribution by locking their $STC Tokens, which provided
essential liquidity for operations and token conversion at STC Wallet.
Recognizing their commitment, the users received up to 16,65% additional tokens
over three years of the program, PHP tokens will be redeemed at a premium rate
of $0.01 each.


‍ON-CHAIN TOKEN HOLDERS

‍Throughout the project's five-year history, numerous users bought $STC Tokens
on various centralized and decentralized exchanges. These tokens were acquired
at prices ranging from $0.0005 in 2019/2020 by slightly over $0.06 in 2021 back
to $0.003 in 2022 and 2023. Due to active trading at over 15 platforms, it's
challenging to track individual unrealized gains or losses nor identify the
actual holders behind on-chain wallets. To address this, we're facilitating
token sale availability by introducing open market liquidity, enabling all
on-chain holders to exchange their tokens at $0.006 each by just filling our buy
orders.


‍STUDENTS, PARTNERS, TEAM MEMBERS AND OTHER

‍Several groups are holding $STC Tokens, including those who acquired them
through OTC deals, partners as part of agreements, and team and advisory board
members as a recognition of their support. Considering their unique
contributions and acquisition methods, we plan to individually redeem the tokens
for these groups within a general range of $0.003 to $0.006 per token.


‍STUDENT COIN RESERVES AND PROJECT’S TOKENS

‍It's crucial to note that Student Coin and its sub-projects like Coinpaper and
STC University currently hold around 5 100 000 000 (5.1 billion) of $STC Tokens.
The tokens were kept by the project to boost future development, funding and
partnerships. We've resolved to burn these unused reserves and all tokens
acquired from open market operations, ensuring they're excluded from the
redemption process. This action allows us to redirect Student Coin's project
funding back to our token holders, enhancing the value returned to the
community.

‍

The following table summarizes our current community structure of the $STC Token
holders:

‍



‍


SUMMARY OF THE ASSUMPTIONS FOR THE REDEMPTION PROCESS

‍This redemption decision was complex due to the diverse origins of our token
holders, from airdrop recipients to those who bought tokens at various market
prices over the five years of our project. We have done our best to satisfy all
holders, but we must prioritize particular groups.

To manage this, we've developed specific assumptions for the redemption process:

 * Different treatment for each group or holder based on their purchase price
 * Preferential redemption rates for STC Launchpad participants
 * The high rewards for tokens acquired through the Premium Holder Program
 * STC Wallet users will be given priority
 * At STC Wallet the "Aggregated Redemption Price" for all tokens will be
   calculated based on each user's history and activity level
 * The redemption process will occur simultaneously across STC Wallet and
   open-market sale at KuCoin, Uniswap, OTC deals, and other exchanges
 * The unused funds from STC Wallet will be redirected for open-market liquidity
   after the end of the redemption process at STC Wallet
 * The 5.1 billion $STC Tokens currently held by Student Coin, will not be
   redeemed but instead will be immediately burned

‍

The graph illustrates the $STC Token price history across various holder groups
and their acquisition periods. Given the vast price range from $0.0005 to
$0.06599, equating to a difference of over 13,000%, a logarithmic scale is
employed to make the early pricing data (2019/2020) visible.



‍


5. TOKEN REDEMPTION PRICING

‍

With the $STC Token holder community structure defined, it's essential to
understand the pricing mechanism for the $STC Token Redemption and Sale. Given
that some users may fall into multiple categories, the following table clarifies
the redemption pricing for each token type based on its holding and acquisition
criteria:




For STC Wallet holders, the "Aggregate Redemption Price" for all of their tokens
will be automatically determined after logging into the app, providing a
breakdown of holdings across different token categories to clarify and simplify
the redemption process.

‍
The $STC Token Redemption process is designed with fairness and equity at its
core, reflecting our token holders' diverse experiences and contributions. The
redemption pricing has been thoughtfully structured to acknowledge the varying
levels of purchase and involvement within the STC community.

‍
The tailored process aims to balance the diverse experiences of our token
holders, rewarding early and active participants while providing a fair and
equitable process for all involved. We strive to ensure that the $STC Token
Redemption reflects our values of fairness and community, and that we are
grateful for the support that has made the Student Coin project possible.

‍
Having detailed the pricing, we will next outline the specific steps for the
redemption process, including redemption methods, timeline, and additional
relevant information.




6. TIMELINE AND DEADLINES FOR THE REDEMPTION


Specific redemption methods are time-limited due to security reasons and to
maintain support and technical teams. The $STC Token Redemption & Sale process
starts at 9th of April 4:00 PM (UTC) with different stages that will end during
the next five years.

‍
For STC Wallet Users:

 * June 9, 2024 (2 months from the announcement): Deadline for redeeming tokens
   within the STC Wallet.
 * October 9, 2024 (6 months from the announcement): Deadline for redeeming
   tokens via Redemption Request.

‍

For Users Holding STC Outside the STC Wallet (e.g. Metamask, Coinbase Wallet,
KuCoin):

 * October 9, 2024 (6 months from the announcement): Deadline for selling tokens
   at any centralized exchange such as KuCoin.
 * April 9, 2029 (5 years from the announcement): Deadline for selling tokens at
   Uniswap V3.

‍

Should these redemption deadlines be exceeded, tokens held within the STC Wallet
will be automatically burned, while the funds reserved for redemption will be
utilized to enhance $STC Token liquidity and pricing in the open market. A
comprehensive explanation will be provided in the next sections.

‍
The following graphic summarizes the deadlines for $STC Token Redemption and
deadline.




‍


7. FINAL WORDS

‍

On behalf of the entire Student Coin Team, we extend our deepest gratitude for
your unwavering support and active participation throughout our project journey.
Your faith in our vision and engagement in discussions across chats and social
media has been invaluable. The decision to conclude the project and initiate the
token redemption was immensely challenging, but we believe it to be the most
honest and correct course of action.

We acknowledge the disappointment this may bring to those who envisioned STC
ascending the ranks of top cryptocurrencies. It brings us joy to have delivered
substantial value to our early backers. However, we must also recognize that
some members have yet to receive satisfactory returns on their $STC Token
purchases. Our commitment in these final stages is to act fairly, ensuring that
the redemption process is as equitable and beneficial as possible for all
parties involved.

We are profoundly thankful for this shared journey and the collective
achievements we have celebrated together. Looking ahead, we wish you tremendous
success and hope that the USDC you receive will help foster future undertakings
that will meet your expectations and fully satisfy you financially.

‍

With heartfelt appreciation,

The Student Coin Team

‍


REDEEM:

KuCoin →Uniswap →
Go to Wallet →


TOKEN REDEMPTION PROCEDURES



‍

Users who held their tokens in a variety of ways, for example, some in their STC
Wallet and others withdrawn to an external exchange or wallet, will need to
undergo the redemption process in at least two ways: by completing the
redemption process within the STC Wallet for those holdings, and by conducting
an open market sale for any holdings outside the STC Wallet.

‍
Please be aware that from the day of this announcement, depositing and
withdrawing $STC Tokens to and from the STC Wallet will not be possible. The
redemption price has been determined using the current snapshot, and it is not
possible to deposit STC Tokens back into the STC Wallet to redeem any tokens
held on-chain.

‍
The graphic below illustrates the steps each user needs to take to redeem their
$STC Tokens, based on where the tokens are currently held.



‍


REDEMPTION FOR $STC TOKENS HELD IN THE STC WALLET



Redemption through the STC Wallet and Redemption Request is exclusively for
tokens present in the STC Wallet at the time of the announcement. All
redemptions are processed as Ethereum-based ERC20 USDC transfers.

To redeem $STC Tokens successfully, users must provide an ERC20 address that
supports USDC token and to which they have unrestricted access. The
responsibility to ensure address compatibility with USDC tokens lies with the
user, as Student Coin Team cannot verify every address.

Withdrawing funds using a manual Redemption Request will not alter the
"Aggregated Redemption Price" which is displayed in Wallet

‍


REDEEMING TOKENS WITHIN THE STC WALLET

Direct Redemption within the STC Wallet:

 1. Log into the STC Wallet.
 2. Verify your eligibility for redemption and check your Aggregated Redemption
    Price.
 3. Accept the Terms of $STC Token Redemption.
 4. Complete the KYC process.
 5. Provide the ERC20 wallet address where you wish to receive your USDC.
 6. Await the transaction completion.

Please note that users must have access to their ERC20 wallet for at least 6
months following the redemption request, as in some cases, the withdrawal can
take up to 3 months.

‍

‍


REDEEMING $STC TOKENS VIA OPEN MARKET SALE



The $STC Token Redemption via open market sale is available for all token users
who hold the tokens outside the STC Wallet. It's important to note that tokens
within the STC Wallet will follow a different redemption process, whereas tokens
held externally must be sold through open market transactions. It is no longer
possible to transfer the tokens to or from the STC Wallet.

‍

For the open market sale, we advise choosing platforms where Student Coin has
ensured substantial liquidity, set at a consistent price of $0.006 USD per STC.
Recommended trading platforms include:

 * Uniswap V3 for STC to USDC swaps
 * KuCoin for STC to USDT swaps

Additionally, open market sales are possible on other platforms supporting
various currencies like BTC, ETH and USDP. A comprehensive list of available
markets can be found at CoinMarketCap.

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KUCOIN (RECOMMENDED UNTIL 9TH JUNE 2024):

 1. Acknowledge the Terms of $STC Token Redemption. Link
 2. Sign up or log in to the KuCoin exchange at KuCoin.
 3. Follow KuCoin's instructions to deposit your $STC Tokens.
 4. Navigate to the markets section and select the STC/BTC or STC/USDT trading
    pair.
 5. Execute a Sell Limit order at $0.006 for your $STC Tokens.

You can contact KuCoin support at KuCoin Support for any queries regarding the
exchange process.

Due to security reasons, Student Coin highly recommends to swap the received
USDT into an USDC and withdraw them from centralized exchange to hold them
on-chain.

The deadline for STC redemption on KuCoin is October 9, 2024

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UNISWAP V3 TO USDC (AVAILABLE FOR 5 YEARS TILL 9 APRIL 2029):

 1. Review and agree to the Terms of $STC Token Redemption. Link
 2. If not already done, deposit your $STC Tokens into a Metamask wallet. Visit
    Metamask.io for setup instructions if needed.
 3. Navigate to the Uniswap V3 STC/USDC pool at Uniswap Pool.
 4. Click on “Swap” and convert your $STC Tokens to USDC.

Ensure your Metamask wallet is securely set up, and exercise caution when
conducting DeFi transactions.

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OTC REDEMPTION PROCESS:



The OTC Redemption is tailored for our partners, team members, and users holding
large quantities of $STC Tokens (over 20 million) and requires a more
personalized approach:

 1. Initiate contact either through the OTC Redemption form or directly.
 2. Complete the Know Your Customer (KYC)/Know Your Business (KYB) verification
    process.
 3. Undergo Anti-Money Laundering (AML) checks.
 4. Submit documents proving the Source of Funds and Source of Wealth.
 5. Review and sign the Terms of OTC $STC Token Redemption.
 6. Select your preferred payment method (options include USD, EUR, USDC, and
    ETH).
 7. Negotiate and fix the redemption price based on your specific circumstances.
 8. Await the completion of the transfer.

This OTC option is available until 9 October 2024, providing a bespoke
redemption route for significant token holders.

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Please note that the Over-The-Counter (OTC) Redemption price will not exceed the
price of open market redemptions or the Aggregated Redemption Price from STC
Wallet. This process simply offers users an alternative method of receiving
payment.

‍

Remember, regardless of the redemption method chosen, it's essential to comply
with the Terms of $STC Token Redemption to ensure a smooth process. Link

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‍


IMPORTANT NOTES



‍

This section provides additional information pertinent to the redemption
process.

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ETH, SMT, USDP, USDC, and LEAN Holdings in STC Wallet

Many STC Wallet users possess small holdings of other digital currencies besides
the STC. Over 99% of such holdings are valued below average ERC20 transaction
costs, that means users cannot pay the transaction fee to withdraw them from STC
Wallet. To facilitate the redemption process, and given that STC Wallet will be
closing its operations requiring all users to withdraw their tokens, all such
sub-holdings have been automatically converted into STC and later into the USDC
at the rates specified in the table below:

‍


The rate at which these tokens will be converted to USDC will be at least 3%
more than their market value on April 8, 2024. This ensures that the conversion
offers a favorable rate for the holders.

‍

The amount received from all sub-holdings will be visible under the section
“Other STC holdings” after logging into the STC Wallet.

‍

‍


STUDENT COIN'S HOLDINGS BURNING

As previously mentioned, Student Coin will not redeem its own tokens. Tokens
associated with the following addresses will be burned:

0x9C628f8Da82A4f84Dc5 A0407547730271ad482a8 - STC Development Wallet

0x94F601083C4DFeE92e a201714977BAe44B4a31F8 - STC University Wallet

0x1BcDf2667e9bD8f871B C39729E913b43EB2413a0 - STC Liquidity Wallet 

STC Technical Wallets - All project’s wallets at STC Wallet, centralized
exchanges and DeFi - multiple addresses and accounts

The burning of the tokens owned by the project in total will equal
5,134,471,331.42 $STC Tokens that is equal to 51,34% of the total supply.

‍


BURNING OF THE REDEEMED $STC TOKENS

All $STC Tokens will be burned into the “Null 0x0000…dEaD” Ethereum address.
This includes tokens redeemed from all sources and those not redeemed from the
current Student Coin holdings.

Users can track the redemption and sale process by following the addresses
below:

0x000000000000000000000000000000000000dEaD - the burn address at which all of
the redeemed and repurchased $STC Tokens will be locked irreversible

0xB6CFC5315E9D03CA1B9e9d334dB87a7533433851 - the STC Cold Wallet that has over
95% of the STC Wallet users tokens. The redeemed tokens will be sent in batch
transfers directly to the burn address

0x5c32251E7715456B2659a474702215d2892D48E3 - first operational address to pool
the $STC Tokens before sending them into the burn address

0xfb800A0C6146EBA8d82534eef1D607DfCa5C21aA - second operational address to pool
the $STC Tokens before sending them into the “Null”

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STC AS A UTILITY TOKEN

Please be reminded that Student Coin and the $STC Token (contract address
0x15B543e986b8c34074DFc9901136d9355a537e7E) have always been issued as utility
tokens, as clearly outlined in all Terms of Use, our website, and our
communications. The token's utility includes facilitating blockchain education,
participation in STC University courses, utilizing some STC Academy features,
and engaging in DAO Decisions (not associated with the company’s decisions). The
$STC Token has never been tied to any tangible value or intangible value. 

$STC Tokens were not intended by design to be used for payments, nor do they
represent share rights in the sense of commercial law. The basic premise of STC,
which has not changed, was educational (functional) in nature, aiming to educate
about blockchain technology and learn about the potential of usability of
tokens.

‍


ELIGIBILITY FOR REDEMPTION FOR US RESIDENTS

According to Student Coin's Terms of Use, including the pre-launchpad and STC
Launchpad Terms of Use, the purchase of the $STC Token was not available to
residents of the United States. This restriction was enforced both legally and
technically on our website. However, if your residency status has changed or you
have acquired $STC Token from another source not controlled by us, and you
currently reside in the United States, you can redeem and sell $STC Tokens using
all methods except fiat redemption.

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KYC POLICY

All STC Wallet users will be required to undergo a KYC procedure when claiming
USDC for their $STC Tokens. This requirement is due to security and legal
considerations. Student Coin reserves the right to share personal data in the
event of an inquiry from any governmental institution. The KYC Policy is further
explained in the Terms of Redemption. Please also note, that in some cases we
may ask to perform the full Source of Wealth and Source of Funds declarations
filling.

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PERSONAL AND USER DATA IN STC WALLET

All user data in the STC Wallet, such as personal details, email, holding
details, transactions, etc., will be securely stored until October 9, 2024.
After this period, all data will be permanently deleted. Please note that data
storage is managed securely using third-party providers and, after October 9,
2024, will no longer be accessible to us.

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DELISTING FROM CENTRALIZED EXCHANGES

Student Coin will initiate the delisting process from all associated exchanges
at the time of the announcement. The delisting will be completed by October 9,
2024. Each exchange determines the method and requirements for delisting and are
not managed by us. We advise our users to stay informed through communications
from the exchanges where they hold their tokens.

‍


OPEN MARKET LIQUIDITY FOR $STC TOKENS AFTER OCTOBER 9, 2024

Following the successful delisting from all centralized exchanges, the sole
venue for $STC Token Redemption will be the Uniswap V3 liquidity pool. The
liquidity introduced into this pool will be equivalent to the market
capitalization of all remaining STC on the blockchain, ensuring a fair price and
additional time for everyone to swap their tokens over the next 5 years. The
final price post-October 9, 2024, is subject to change.

‍


$STC TOKENS NOT REDEEMED AT STC WALLET

Any $STC Tokens not redeemed by October 9, 2024, will be burned and no longer
available for redemption. Tokens stored outside the STC Wallet that are not
redeemed are beyond our control and will have exit liquidity available on
Uniswap V3 until April 9, 2029. After this 5-year period, the token will also be
delisted from Uniswap V3, and further sale will not be possible.

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USAGE OF UNCLAIMED USDC/ETH FUNDS

USDC funds reserved but not utilized for STC Wallet redemptions by October 9,
2024, will enhance liquidity and pricing on Uniswap V3 for users selling their
tokens post-October 2024 in open market operations. The price at that time may
vary and will be dependent on the operation progress.

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BONUSES FOR ACTIVE TELEGRAM CHAT MEMBERS AND STC MODERATORS

To acknowledge our most active community members and STC Moderators, the 100
most active users throughout Student Coin's history and STC Moderators will
receive a special ETH airdrop proportional to their activity rank. The total
airdrop value will amount to $100,000 worth of Ethereum.

‍


COINPAPER

Coinpaper, as a rapidly growing news website, will continue its operations as
usual. It is self-funding and will maintain its current business model.

‍


STC UNIVERSITY AND STC ACADEMY

STC University and STC Academy will publicize all paid content through
integration with Coinpaper, but won't develop further as separate projects. The
content will stay online and for free indefinitely on a special section of
Coinpaper. Integrating all content into Coinpaper might take 6 to 9 months, so
some parts may be temporarily unavailable until complete synchronization.

‍


STC WALLET

The STC Wallet will cease operations in 2 months, on June 9, 2024. User data
within the wallet will be retained until October 9, 2024, after which all data
and project information available, there will be permanently deleted.

‍


COMMUNITY CHATS AND SOCIAL MEDIA

Student Coin has established multiple social media channels and groups to
discuss its development. These platforms will continue to operate as usual until
June 9, 2024, with moderators available to assist users in the token redemption
process. After that date, support will be provided exclusively through Zendesk,
and the chats will be discontinued. Social media activities will also be
suspended, except for posts reminding users of the redemption deadlines.

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ALL OTHER PLATFORMS AND PROJECTS

All other Student Coin projects and platforms will be closed over the next year,
with operations completely halting by April 9, 2024. All internal data will also
be permanently deleted on that day.

‍


ASSISTANCE DURING THE PROCESS

If you have any questions or require assistance during the process, please do
not hesitate to reach out through our support center here:
https://studentcoin.org/faq

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