Applications and Use Cases

Stratis Finalizes Shift to STRAX Token

October 29, 2021

Blockchain platform provider Stratis recently announced it completed its token conversion initiative, which replaced STRAT tokens with the new STRAX token after investors voted to revise the platform’s structure.

According to a recent article from NewsBTC, 93% (93 million) of the circulating supply of STRAT tokens have been converted 1:1 to STRAX, with 6.6 million STRAT tokens being eliminated after the swap was finished. Token holders who failed to convert their tokens ultimately lost their ownership, but had over a year to complete this task after Stratis investors voted for this strategy back in October of 2020.

Stratis investors decided to move forward with the STRAX token as part of a greater plan to redesign the Stratis platform, as well as to incorporate new features including increased block rewards,SegWit activation, decreased block time, dynamic memberships, and cold staking.

This announcement could mark the turning point for Stratis as a major player in the highly competitive blockchain space, with business investments expected to hit $16 billion by 2023. Outside of STRAX tokens, Stratis has revealed  plans to launch its own NFT marketplace. Not only that, the company intends to integrate NFT capabilities into upcoming blockchain-centric gaming projects, including Trivia Legend and Dawn of Ships. The rapid and diverse expansion of Stratis’ business activity could be a key indicator of potential success in the coming months and years.

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Edited by Maurice Nagle



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