Starbase is a user-centric global crowdfunding and token payment platform which connects people who want to develop challenging projects like startup companies or other kinds of innovative ideas with people like investors, engineers, designers, or marketers who want to support these projects all over the world.
Currently, existing solutions for crowdfunding like sharing or selling stocks and stock options are slow, geographically limited, and come at high costs.
Sharing stock options, for example, involves big transaction costs: legal and financial expert fees and a huge amount of work hours wasted on bureaucracy to name a few. That makes it very hard for entrepreneurs to share long-term incentives with their employees, specially for startups and other small enterprises.
Besides, existing funding schemes like Seed Money or Series A funding for startups are high-risk and high-cost for investors.
If you like challenges but don’t have much initial cash, and can’t give long-term incentive shares to your supporters, it’s difficult for you to successfully fund your big idea and to find good team members to help you on your project.
By using Starbase, innovative people can launch their ideas by sharing long-term incentives with collaborators. This is much faster, reaches a global scale, comes at a low transaction cost, and investors can individually commit a small amount of money.
There are already more than 650 blockchain tokens in the world, with a 25 billion usd market cap. We make it easy for you to create a new token, so join them and get funded.
Starbase has 3 innovative features and STAR token ecosystem mechanism as described below.
1. STAR Account
The Starbase Platform provides multi-signature accounts for every user. So users can hold their BTC, ETH and ERC20 type tokens(Ethereum standard type tokens) by themselves, not depending on Starbase’s platform. These are called “STAR Accounts”.
The STAR Account system makes users able to own their private keys, one key is signed by user, the second key is signed by the Starbase server, and the third key, unknown to Starbase, serves as the user’s backup. This way, users are able to use the multi-signature transactions easily.
This makes it easier and safer for users to send and receive Bitcoin, Ethereum and ERC20 type tokens.
STAR Account system is the basis for most of Starbase platform’s transactions.
2. STAR Reward
Starbase provides a web application for reward deposits and withdraws. Any project can deposit Bitcoin, Ether, and ERC20 type tokens to reward contracts, while token holders can withdraw these rewards in a decentralized way. We mainly develop for Ether and ERC20 type tokens. ERC20 type tokens can be such as DGX, decentralized gold, StabL, which fix their prices on fiat currencies such as USD, EUR, CNY or JPY. and Dai which is fixed after the IMF’s international currency basket: SDR.
And thanks to the STAR Account system, users can deposit and withdraw Bitcoin, Ether and ERC 20 type tokens on the Starbase platform being certain that they own their private keys.
3. STAR Protection
Starbase platform provides token investor protection from a technical and operational perspective.
From the operational point of view, in order to prevent scams or the emission of fraudulent tokens, Starbase company works with rating and due diligence partners around the world.
Any project can issue tokens using Starbase platform, but without due diligence by Starbase or our partner companies, they can not sell their tokens on the Starbase platform.
From the technological point of view, Starbase provides an escrow system for innovative projects. Project owners can choose whether to the escrow system or not. Using this will likely increase the chances of a successful fundraise.
The escrow system also protects investors. Not only in the ICO or crypto token funding world, but also in traditional reward-based crowdfunding platforms like Kickstarter or Indiegogo, there are projects that may fail and the money is not returned to investors.
When escrow partners release the funds only if the promise is fulfilled to fundraisers, there’s virtually no risk involved.
Starbase will also provide a “Put Option smart contract”. Put option smart contracts can be used for innovative projects that sell tokens on the Starbase platform.
The contract has an Ether security deposit provided by the project’s team, and if a token purchaser wants to get a refund from the project, he can deposit the token and withdraw Ether from the contract. This put option contract can be combined with the escrow contract.
The Starbase platform uses STAR tokens as a rewardable, consumable token in the Starbase ecosystem for people with investor like minds who want to support global innovations.
With STAR, holders can support global innovative skyrocket projects and get revenue as ETH or as ERC20 type tokens from these projects.
The are 3 types of revenue:
- When innovative teams issue tokens, STAR holders can get the project’s tokens as ERC 20 type token from the token issuance transaction
- When innovative teams sell tokens on the Starbase platform, STAR holders can get Ether from the token sales transaction
- When innovative teams pay tokens(BTC, ETH, Tokens) through Starbase platform as reward or work payments, STAR holders can get the token payment fee
All fees go to STAR holders, and the fee payments are executed by deposit & withdraw type smart contracts on the Ethereum blockchain.
Starbase crowdsale plan to start between May~July 2017, and now accepting some early purchases.
The Starbase platform official launch is in Q4, 2017. For more details you can check the whitepaper on Starbase’s website.
Alpha Starbase: https://alpha.starbase.co/
Bounty campaign website: https://bounty.starbase.co/
STAR Early Purchase website: https://earlypurchase.
Crowdsale website: After STAR Early purchase reached to the goal, we’ll release around July, 2017.