What is a strike? Strike is a Blockchain protocol that provides credit and liquidity to the decentralized finance (DeFi) space. In this article, you can find answers to questions that investors often wonder, such as what Strike is, what it offers, what is STRK, what it does, how to buy it. cryptocoin.comWe researched for you.
What is a strike?
Strike runs on the Ethereum network and describes itself as a cryptocurrency lending protocol in the DeFi space. Accordingly, users can deposit their assets in any of the various crypto markets supported by the platform. These cryptocurrencies can be used by users who need a loan. However, borrowers have to pay the interest rates set by the protocol’s administration. Users who invest their crypto money in the markets can earn interest income in this way.
What does Strike offer?
When users deposit cryptocurrencies on a Strike market, they receive sTokens in return. These sTokens represent the share of individual users in the pool. They can also be spent on redeeming the amount of cryptocurrency initially deposited in the pool at any time. For example, users receive a sETH token when depositing ETH into a pool. The assets on which these sTokens are based increase in value over time, allowing users to use more of the underlying asset they originally deposited.
On the other hand, borrowers can get a variety of secured loans by depositing collateral into any Strike pool. The maximum loan-to-value (LTV) ratio varies depending on the collateral asset. However, the current range is between 50% and 80%. The Strike project, which operates in a completely decentralized way, also has its own governance token called STRK.
What is STRK? What does it do?
STRK is the governance token created with the ERC-20 smart contract of the Strike protocol. There is no executive team in the Strike project. In other words, all admin operations are performed by the community. Due to the lack of a team, STRK’s token distribution becomes highly community driven. Strike’s community management sets it apart from other similar protocols.
STRK owners can propose changes to the protocol without any involvement of the Strike team. They can also discuss and vote on whether changes suggested by others should be implemented. This includes choosing which cryptocurrencies to add support for, adjusting collateral factors, and changes in the way STRK tokens are distributed.
What is the Strike (STRK) price?
STRK coin reached its all-time high on September 6, 2021. At that time, the price of a STRK was around $70.9. However, the coin failed to make a new ATH during the bull season of November 2021. On top of that, the 2022 bear market emerged and the price continued its downward movement. According to the available data, STRK is trading at a unit price of $18.41. Additionally, 51% of Strike’s maximum supply of 6.54 million, which is ranked 331st in the market according to CoinMarketCap, is currently in circulation.
What is a strike? How to get STRK?
Despite the features it offers, Strike is among the cryptocurrencies that are not very accessible. Accordingly, the token is not currently listed on industry-proven exchanges such as Binance and Coinbase. However, there are still some popular exchanges where you can buy STRK. These; OKX, KuCoin, DigiFinex, Upbit and LATOKEN. If you want to buy STRK, you must become a member of one of these exchanges and verify your account. You must then deposit funds into your wallet and place a buy order for STRK.
