Strike

What is Strike Finance?

Strike Finance is a decentralized money market operating on the Ethereum blockchain, providing users with the ability to borrow and supply collateral without the need for central authority or control. This decentralized finance (DeFi) platform boasts attractive Annual Percentage Yield (APY) rates across various token markets, including wstETH.

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Recent Video Interview

Main points of the interview:

• Strike aims to democratize finance globally through Bitcoin and Lightning Network technology.
• It facilitates instant, low-cost cross-border payments, bypassing traditional banking channels.
• Strike has expanded its services across multiple continents, including Europe, North America, and parts of Asia.
• The platform integrates with popular payment networks.

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sTokens: Gateway to Strike Protocol

Integral to the Strike Protocol are sTokens, represented through an EIP-20 compliant contract. Minting sTokens empowers users in two key ways: they earn interest through the sToken's exchange rate, appreciating relative to the underlying asset, and gain the flexibility to use sTokens as collateral. The primary vehicle for interacting with the Strike Protocol, sTokens play a pivotal role in operations like minting, redeeming, borrowing, repaying, liquidating, or transferring.

Two sToken Variants

Currently, there are two types of sTokens: SErc20 and SEther. While both adhere to the EIP-20 interface, SErc20 encapsulates an underlying ERC-20 asset, whereas SEther directly represents Ether. This results in slightly different interfaces for core functions that involve transferring assets into the protocol.

Earning Interest through sTokens

Interest accumulation with sTokens is based on the Supply interest rate (APR) unique to each market. Rather than being distributed, interest is earned simply by holding sTokens. The mechanism involves the exchange rate of sTokens increasing over time, making each sToken convertible into a growing amount of its underlying asset, even with a constant quantity of sTokens in one's wallet.

The Role of Comptroller

The Comptroller serves as the risk management layer within the Strike Protocol, determining users' required collateral and overseeing potential liquidation. Every sToken interaction prompts the Comptroller to either approve or deny the transaction. Mapping user balances to prices via the Price Oracle and factoring in risk weights (Collateral Factors), the Comptroller's decisions are influenced by explicit asset risk scoring through functions like Enter Markets and Exit Market.

Comptroller Architecture: Implemented as an upgradeable proxy, the Comptroller's logic is facilitated by the Unitroller, which sets storage values. Comptroller functions are accessed using the Comptroller ABI on the Unitroller address.

Governance with STRK Token

The governance and upgrading of the Strike protocol are entrusted to STRK token-holders, facilitated by the STRK token, the Governor Alpha, and Timelock. Addresses with over 65,000 STRK delegated can propose governance actions, which are executed through a voting process. Proposals, ranging from adjusting interest rate models to adding support for new assets, require a majority vote with a minimum of 130,000 votes during a 3-day period. Once approved, proposals are queued in the Timelock and implemented after a 2-day waiting period.

STRK is an ERC-20 token that allows owners to delegate voting rights. Changes in the owner's token balance automatically adjust the voting rights of the delegate.

Strike.js

Additionally, Strike.js, a JavaScript SDK for Ethereum and the Strike Protocol, built around Ethers.js, is currently in open beta. Users can report bugs and make feature requests via the GitHub repository or the Development channel of the Strike Discord. This comprehensive ecosystem underscores Strike Finance's commitment to decentralized finance and community-driven governance.

Strike Team Background and Partners

Strike operates as a decentralized finance platform, devoid of team or founder supplies. The protocol's operations are vested in the community, embodying a commitment to complete decentralization.

Strike partners with many famous names and platforms in the crypto industry: Immunefi, Certik, Coinbase Wallet, Band Protocol, Hyve, Mexc, Halborn, and Bitget.

Project Development

Strike Finance is unveiling a thoughtfully designed private sale structure for its STRK tokens, aligning with project goals and community interests. The total investment size is capped at $1 million USD, with a minimum commitment of $1k USD and a discount of up to 25% on the prevailing market rate. The private round spans a two-week timeline, with the STRK token currently trading on platforms like Upbit, Kucoin, MEXC, and Uniswap.

Bonus structures and incentives further enhance community commitment. Participants gain immediate governance rights, early access to innovations, and bonus STRK token airdrops for holding tokens. The private sale is positioned not only as a funding mechanism but also as a testament to Strike Finance's commitment to community involvement and sustainable growth.

Strike Finance dedicates over $1 million worth of STRK to private partners and reserves an equal amount for the vibrant community, empowering them to actively participate and benefit amidst anticipated market upswings. This strategic allocation reinforces the importance of partnerships and community engagement in Strike Finance's growth strategy. The platform invites interested participants to register for the Elite Group, offering exclusive access and opportunities in the presale event.

Strike Price Analysis

As of December 25 2024 Strike has a marketcap of $46M. This is {{percentagefromath}} from its all time high of $78.95. In terms of its tokenomics, there's a total supply of 6.5M with 83% currently outstanding. Keep in mind Strike has a fully diluted value of $56M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.