In the aftermath of a liquidity crisis that led to the departure of former CEO Oleg, cryptocurrency exchange StakeCube is making strides to regain stability and rebuild trust among its users. The platform has announced the launch of a Debt Tokens Market, an innovative solution designed to expedite repayments to users by converting held balances into SCP tokens.
Beginning with the sdDOGE/DOGE trading pair, StakeCube’s new Debt Tokens Market will allow users to trade debt tokens for coins like BTC, DASH, DOGE, and LTC, which have held balances on the platform. Accessible via the Debt group on StakeCube’s exchange (https://stakecube.net/app/exchange/sddoge_doge), the market will enable users to trade their debt tokens at a discounted price, allowing them to access their funds more rapidly.
While the debt token market was initially considered as a zero-fee offering, StakeCube has opted to implement fees for debt token trading to accelerate the market’s launch and allocate development resources more effectively. To mitigate concerns over fee implementation, the platform has committed to burning all fees collected from debt token transactions, ensuring they are never sold on the market again.
To further assist users in managing their debt balances, StakeCube is developing a feature that will enable the conversion of small, unsellable debt token amounts into real coins. The company promises to keep users informed of this development and any future updates related to debt tokens and repayments.
StakeCube’s introduction of the Debt Tokens Market signifies the platform’s dedication to repaying users and maintaining its operations despite ongoing financial challenges. To date, StakeCube has managed to reduce its monthly costs by 34% since January and aims to cut an additional 5-7% within the next two months.
In addition to the Debt Tokens Market, StakeCube has been working on various other strategies to regain stability. These include changing wallet.dat for coins, migrating masternodes and wallets to reduce costs, maintaining masternodes, upgrading wallets, researching new wallets to add, exploring new income sources, and seeking potential partnerships and collaborations.
The platform has also paused or removed several trading pairs from the exchange in cooperation with the respective projects, while adding MYUS and SHARE to NodeCube and inviting users to host their nodes.
As StakeCube moves forward with the SCP token conversion and the reopening of the exchange for trading, the community remains optimistic about the platform’s ability to regain trust and stability. The introduction of the Debt Tokens Market and the ongoing dedication to repaying users and maintaining operations underscore StakeCube’s commitment to overcoming the financial hurdles and emerging as a stronger, more resilient platform.