StarsX is the ideal Gaming Platform that can be considered a DEX for NTFs, for those who want to win big by applying their expertise and understanding of the sport. StarsX uses Fractionable NFT’s and with the combination of ERC-721 and Bancor Smart Tokens price of various tokens can be monitored and transacted automatically.
We intend to deliver a platform where sports fans can gather and communicate on a global scale by using real-life data and statistics to drive a market in which users can fund their player accounts and using any of the supported payment methods. We have designed this platform as simple as possible for a global audience, from registration all the way through to use.
In general, the whole creation of StarsX is designed to provide users with rewards to engage and get involved by using our wide range of options for play and interaction and trade their tokens. We hope that StarsX will become an influencing model in the blockchain market.
How it works
To begin, real-world data and statistics are tokenized using the Fractional NFT technique, providing consumers with something to trade. These are known as “Smart Tokens.”
A bonding curve is used to govern the tokens, which automatically establishes and modifies the price of each share token based on supply and demand.
When a person buys a Smart Token, their money is added to the token’s reserve balance, and new Smart Tokens are given to the buyer. This means that the token’s reserve balance will rise, as will the token’s supply, and hence its price. When a user liquidates a Smart Token, their username is removed from the supply chain, the reserve tokens are returned to the seller, and the total token price falls. It’s all about supply and demand in the end.
Stable coin comes in as the common reserve token that is meant to ensure that the price fluctuation of the reserve has no effect on the entire price of smart tokens.
To fully understand the application you need to know that NFT is the non-fungible token which is how it works in the world of online sports. It represents the real-life performance of all our favorite athletes and sporting teams around the world.
By knowing that, users can invest real-life success of their top players and own tokens which represent their performance. So StarsX operates through Fractionable NFT’s , that allow these performance tokens to be broken up into fractions. Note that if every NFT represented one player, it would quickly become impossible for everyday users to own them.
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