AMA Transcription with Maja Synowiec — CLO of Student Coin (STC)
We would like you to meet Maya Synowiec — the CLO of Student Coin. In this AMA session, she is going to tell us about the future of the project and what is coming in 2022. As usual, it’s hosted by our CRO — Jacob Kozakiewicz, who will be asking questions. We haven’t forgotten the questions from the community, which are going to be answered afterwards!
[Jacob Kozakiewicz] Welcome everyone to today’s AMA with the CLO Maya Synowiec. This is probably the last AMA on our channel this year, so, please, use it to ask some fantastic questions.
Hello, Maya, how are you today, a few days before the publication of the STC Terminal?
[Maya Synowiec] Hello, it’s great to have this AMA session today. I am glad to answer all the questions coming from our wonderful community 😌
[Jacob Kozakiewicz] A reminder of the rules that apply during our AMAs. In Part 1, this group will be muted. Maya’s here to answer the questions collected in the community.
Then in Part 2, we will unmute the group for a few minutes and you’ll be able to post your questions directly to Maya. Let’s get started.
[Maya Synowiec] Let’s go!
[Jacob Kozakiewicz] 1. Can you describe for us the current legal situation, the legal framework, and in which jurisdictions the STC operates?
[Maya Synowiec] Thanks for the question.
We are currently focused on building the international company structure. We already have registered companies in Estonia, Singapore, Poland, and Malta. Now, we are establishing another one in Dubai. This is important information as we need a company there to implement one of our biggest products in the coming year. The operational activity related to employment, accountancy is run under the Polish partnership.
[Jacob Kozakiewicz] 2. What does the legal department at STC look like, how many law firms do you work with and what are the short- and long-term goals for the department?
[Maya Synowiec] Our legal team consists of 3 full-time in-house lawyers who coordinate all legal issues related to the project. We deal with internal legal matters and oversee the law firms we cooperate with. We work with 5 law firms permanently and have seven more when required. Our short-term goal is to build a legal structure around the products we are making right now, and the long-term goal is to develop our own law firm specializing in blockchain technology and practical crypto aspects.
[Jacob Kozakiewicz] Excellent! Now some questions about the Terminal.
3. Is the version of the Terminal that will be presented on Tuesday final, or will you make any changes?
What is STC Terminal? How to Create An ERC20 Token in 10 minutes?
The goal of STC Terminal is to allow a wide range of users to create a token of their desire and purpose.
[Maya Synowiec] The version that will be published on Tuesday is not a final one. It will be updated and improved. We have many plans related to the Terminal.
[Jacob Kozakiewicz] Thanks for this answer! 4. Who will cover the token creation fee, and how much will it be?
[Maya Synowiec] An issuer will pay the fees. In the beginning, it will be a standard Ethereum fee (100–500 dollars depending on the market). We aim to lower the fees to a standard transaction fee level.
We will also have a Test Net with almost zero fees.
[Jacob Kozakiewicz] 5. Will tokens created on the STC Terminal be immediately connectable to STC Ecosystem and, e.g., conduct an ICO?
[Maya Synowiec] Token creation on STC Terminal is an essential feature. Every token issuer will be able to apply for being connected to the STC ecosystem and run ICO. However, running ICO is bound by legal requirements and costs such as choosing the jurisdiction that suits the most, company establishment, and many more. This is a big undertaking, but we work hard to make it easy.
[Jacob Kozakiewicz] Great! This will be the last question, after which the chat will open for a few minutes.
6. What are your thoughts on the current legal situation around cryptocurrencies, do regulations keep up with innovative ideas, or are they hindrances?
[Maya Synowiec] Legal frameworks will never keep up with the pace of development of the area they regulate because the law is meant to regulate what already exists. What’s more, the introduction of legislation is time-consuming. It will always diverge worldwide, and that’s a challenge because blockchain technology and cryptocurrencies are transnational. However, I think that many countries perceive a friendly approach towards crypto as a chance to increase in power.
[Wojciech Podobas| Student Coin CEO] Please note that Maya is responsible for the legal framework. There will be expanded marketing of STC Terminal with videos and ads regarding the marketing. Also, there will be an excellent explainer.
[STC Community Member] Anyway, plans for a new listing now that we have some starting up products??
[Maya Synowiec] We are still under the company audit led by one of the top 3 exchanges. However, listings are not our priority for now.
[STC Community Member] What about marketing?
[Maya Synowiec] We have signed agreements with a few top ad networks. You can ask Daniel Bihun — our CMO — about marketing issues.
[STC Community Member] Now, it is no secret that projects without any basis (meme coins) thanks to marketing/influencers have managed to place themselves in the TOP 100 of the CMC, remaining for a long time. This is proof that marketing and becoming ECO will be essential to position ourselves high in the market. What plans do you have in this regard? Thank you!!!
[Maya Synowiec] I will share this question with Daniel, and he may answer in the Live Q&A group.
[STC Community Member] Once the terminal has been launched, can I transfer my tokens from my trust wallet to my STC wallet here?
[Maya Synowiec] The transfer will be available after the STC Wallet update (Q1 2021).
[STC Community Member] Hello, Maya! Thanks for doing this! I’ve heard the Ethereum network will get updated at the beginning of 2022, and the fees will be reduced significantly. Will this reduce the price to create a new token using the STC Terminal?
[Maya Synowiec] With Ethereum 2.0, the fees will be reduced.
[STC Community Member] Are the plans to add the STC ecosystem to layer 2 scaling solution polygon, so we don’t have to pay as high gas fees per transaction?
[Maya Synowiec] It depends on the development of the blockchains, but layer 2 may be a solution.
[STC Community Member] When will the listing of the top 10 exchanges come?
[Maya Synowiec] It’s hard to estimate how long the audit will take, but we will update you once we get any information.
[STC Community Member] Are you aware of what is happening with Craig Wright in the Florida Court just finished and the one that comes in Norway COPA at the end of January?
[Maya Synowiec] The situation around Craig is complicated. We need to remember that it’s not proven that Wright is Satoshi Nakamoto. This case is crucial as it will stare at a precedent in the modern world where blockchain technology and cryptocurrencies are becoming more and more important. The entire process of examining two-layer evidence must be changed to fit the new challenges. Now, everybody is watching to see if he is Satoshi.
[STC Community Member] I wonder how all of this will work out for US citizens… I read some mention of KYC the other day, and I’m not sure how that will impact US citizens.
[STC Community Member] Hello, good morning. When users want to create a token, do they have to buy STC beforehand? If so, how much STC should I buy to do so? And if not, how would the creation of tokens in the STC Terminal positively affect Student Coin’s market capitalization?
[Maya Synowiec] Token creation will be allowed to users who hold STC for half a year. There is no required amount to create a token; however, a user will need to have amounts for additional features, but we are still thinking about the details of such a solution.
[STC Community Member] Will a roadmap for 2022 be released before the end of the year?
[Maya Synowiec] We are working on the website update and finishing it. The roadmap will be published at the same moment.
[STC Community Member] My last question is a very important one: will the token created on STC terminal be able to get listed on Coingecko? The reason why STC got delisted from Coingecko during her ICO and all efforts to get it back on track has proven abortive. I hope it won’t be a setback, although we, of course, have CMC as a backup.
[Maya Synowiec] The tokens created on the STC Terminal will have a chance to get listed on Coingecko. We are still taking action to make STC listed there again.
[Jacob Kozakiewicz] Thank you, Maya, for today’s AMA and your time. We were delighted to learn the details of the legal aspects of how our project works. Transcripts of today’s meeting will soon appear on channels of different languages. We encourage all investors to follow the channels on our SM because this week, for sure, a lot is going to happen.
[Maya Synowiec] If you are interested in my opinion about the situations influencing the legal crypto issues, such as Craig Wright, I can answer your questions on the Q&A live chat.
Thank you so much for this AMA session. I hope you liked it 😊
[Wojciech Podobas| Student Coin CEO] Great AMA and questions 🙂