Blockchain technology has penetrated many areas of life, including sports. In 2022, there was an increase in the popularity of fan tokens. The trend led to the emergence of specialized exchanges. For example, STEM offers fans a new approach to sports betting. On the trading platform, each club corresponds to a specific token. Fans can invest in the assets of their favorite teams and profit from their victories. The review will tell you how the platform works.
Features of the sports token exchange
STEM is a platform for trading unique virtual assets. The exchange provides users with the opportunity to buy and sell tokens of sports teams. The price of such digital currencies is determined by the rating and statistics of the club. Asset owners will receive a profit if the soccer team achieves good results. Bad match outcomes, on the contrary, will lead to a decrease in value. Users track the club’s data on the exchange’s website and make decisions based on up-to-date information.
It is worth clarifying that these are not fan tokens like BAR or PSG. In fact, fans place bets on the development of the club.
STEM combines a cryptocurrency exchange and a bookmaker. For example, a user is going to buy a Manchester United token and expects the club to win the upcoming match. If the team wins, the club’s rating and statistics will improve. This will increase the price of the asset. The holder can sell the token and lock in a profit or leave it on the account with the prospect of growth.
Unlike conventional bets on betting platforms, the user does not risk losing all the money due to the failure of the team. The drop in the value of the asset is temporary. The client can keep tokens on the balance until the next winning match, when the quotes will grow. Other features of the STEM platform:
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- The platform provides information about clubs – calendar of upcoming games, news, analytics.
- A large number of assets are available to fans.
- There is a section with informational materials that will help investors understand the principle of operation of the trading platform.
- Users do not need to undergo identity verification.
- You can trade on the official website and in the mobile application.
- Farming of native cryptocurrency STEMX and stablecoin BUSD is provided.
How to trade on the platform
To start working on the exchange, you need to create an account. After registration, access to the full functionality of the platform will open. Users will be able to replenish the account, buy assets. Before trading, it is recommended to study the information about commissions.
Registration
Authorized investors can trade tokens, participate in the referral program and use other functions of the site. Instructions on how to register an account:
- Open the official website of the STEM platform.
- Click on the “Authorization” button in the vertical menu on the left.
- Switch to the “Registration” tab.
- Enter personal data (name, e-mail address), come up with a strong password.
- Click on the item “Register”.
- Check the mailbox. A letter with a link to activate your personal account will be sent.
- Re-authorize.
Clients of the exchange do not need to undergo identity verification. Access to financial transactions and other functions of the platform will open immediately after registering an account.
Overview of the personal cabinet
Authorization on the website of the platform is carried out by entering a login and password. After logging into the account, investors can change the localization. The interface is translated into 4 languages – English, Spanish, Ukrainian, Russian.
There is a vertical menu on the left side of the screen. The following sections are presented:
- DAO. Information about collective project management.
- “Market”. In this section, soccer fans can track club statistics, learn about upcoming events and recent changes, see the list of tokens.
- “Cabinet”. The page displays the total asset balance and account status.
- “Account”. In the section you can make a deposit, see the history of transactions and orders.
- “News”. The page publishes current sports events, analytics, forecasts, information about transfers.
- “Calendar”. Tab with upcoming matches and tournaments.
- “Help”. Here you can find contacts of support operators and answers to frequently asked questions of users.
- “Settings”. In this section you can change your e-mail address, password, add a profile photo and enable two-factor authentication.
- “Knowledge Base”. A page with educational and informational articles.
- “Farming.” In the tab, investors can contribute coins to the liquidity pool and receive accruals from 16.45% to 24.84%.
Buying and selling tokens
Assets are traded with SXUSD, the exchange’s internal stablecoin. It works only on the STEM platform. The coin cannot be funded from external wallets. Investors can send a native token STEMX, USDT, BUSD to the address of the platform or deposit money from bank cards and electronic payment systems.
In the “Market” section, investors can find assets for purchase. The most popular tokens and the rating of growth leaders for the last 2 weeks are presented there. The news page will also help to make a decision.
The trading process on the STEM platform is similar to operations on a regular cryptocurrency exchange. To buy an asset, you need to:
- Go to the “Market” section.
- Scroll down the page.
- Enter the name of the club in the search bar.
- Click on the “Open trades” button.
- The page with the chart, order book, team statistics, price forecast will be displayed. In the trading panel on the right side of the screen you should set the order type (limit or market), specify the number of tokens.
- Click on the item “Buy”.
When the order is executed, a notification will appear on the screen. Information about open, completed and canceled trades is displayed at the bottom of the page.
Available tokens
Popular and lesser-known teams are represented on the platform. As of October 2023, a total of 37 assets are available. In the table are some of them.
| Ticker | Club name | Price |
|---|---|---|
It should be noted that the developers regularly add new clubs to the site. You can follow the updates in the social networks of the project.
Commissions
The platform charges fees for its services. The calculation and writing off of the commission for the use of orders is performed in the currency SXUSD.
| Operation | Commission |
|---|---|
Affiliate Program
The trading platform offers a referral system. Any registered user has the right to participate in the program. There are no limits on the number of invited clients on the platform. Active participants can attract referrals and get rewarded for each of their account replenishment. The exact percentage is not specified.
The link for invitations is located in the personal cabinet in the “Settings” section. The received bonuses can be used for trading on the site or withdrawn to a non-custodial wallet.
Mobile application
The developers created a program for smartphones on the Android operating system. In the mobile application, the full functionality of the platform is available. Users can create an account, replenish the account, buy and sell assets. The download link can be found on the official STEM website or in the Google Play store.
The iOS app is in development. iPhone owners can use STEM in the mobile browser. The interface is fully adapted to the smartphone and offers all the features available on the website.
Support Service
If an investor has any questions, they can find answers in the Knowledge Base section. The tab contains articles that explain the work of the exchange and contain detailed instructions. If the user fails to solve the problem on his own, he should contact the support staff. There are 3 ways of communication:
- Chat on the site. In the right part of the screen there is a window where you need to enter a question or describe the problem.
- Social networks. The platform has accounts in Telegram, X (former Twitter), Vkontakte and other services. You can also write to the numbers in WhatsApp and Viber.
- Email. If there is a serious problem or there is a suggestion, you should write to email.
All contacts can be found in the “Help” section. The average response time of the support staff is 1 hour.
STEMX cryptocurrency
The native token of the platform is released in 2021. The cryptocurrency runs on the BNB Smart Chain blockchain and is traded on 2 exchanges – Uniswap and WhiteBIT. The coin has been audited by CertiK.
The token is scheduled to launch on the TRON and Waves blockchains.
STEMX is part of the ecosystem and the main means of payment of the platform. The asset plays an important role in the following transactions:
- Buying tokens of sports teams and NFT.
- Payment of trading commissions on the platform.
- Farming with yields of up to 24.84% per annum.
STEMX has a total supply of 100 million coins. The distribution is shown in the table.
| Assignment | Number of coins |
|---|---|
The platform has a second token – STEM DAO. It is the equivalent of project shares. It gives holders the right to participate in managing the further development of the platform.
A total of 100 thousand shares are available. The cost of one share is $17.95. Holders also receive dividends based on the income of the exchange.
Advantages and disadvantages
The platform is actively developing, new features and teams are regularly added. Other advantages and disadvantages are listed in the table.
| Pros | Minuses |
|---|---|
Conclusion
STEM is a developing project that attracts the attention of soccer fans with its innovative and unique concept. The exchange offers trading in tokens of sports teams. With the help of the platform, fans can earn on the successes of their favorite clubs. As of October 2023, 37 assets are registered on the platform. Their number is constantly increasing.
The developers have drawn up a roadmap that includes key goals for Q4 2023. The team plans to enter into partnerships with betting projects, implement new functionality, add assets, and register STEMX cryptocurrency on other exchanges. It is expected that the implementation of these goals will attract even more soccer fans interested in investing and trading tokens of their favorite clubs.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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