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There’s no doubt that decentralized autonomous organizations (DAOs) can enhance innovation, transparency, security and cost-efficiency in the crypto space. However, their very existence on Layer 1 blockchains inherently limits their scalability and increases their centralization, expense and inefficiency — the very challenges they’re seeking to address. Additionally, in their current state, DAOs are hardly adaptable to different sectors.
STP Network aims to correct the existing fragmented DAO tooling structure in order to create a holistic DAO ecosystem that leverages Layer 2 solutions to resolve these issues.
Key Takeaways:
STP Network provides a full suite of native tools and infrastructure to provide a holistic DAO ecosystem across chains, solving the current limitations of inefficiency, limited scalability and high transaction cost.
Its all-in-one dashboard, Clique, enables users to access all of the DAO tools and manage all of their DAO activities in one interface.
STP’s native token, STPT, is used to pay for transactions on the platform and provide liquidity, and can be staked to earn rewards.
The Standard Tokenization Protocol (STP) Network is a full suite of no-code tools and infrastructures that simplifies the establishment and administration of DAOs across various blockchains, including Ethereum, Polygon, BNB Chain and Klaytn.
STP was initially launched as Verse Network on the Meter SDK, an EVM-compatible platform, in 2021 to provide a high-performance Layer 2 solution to streamline DAO and DApp building, and to promote decentralized decision-making, cross-chain connectivity, efficiency and scalability.
The STP Network launched its BNB Chain Application Sidechain (BAS) in 2022. Powered by the Ankr BAS framework, the chain offers users high throughput and low gas fees for seamless DAO creation and management. BAS guarantees scalability, stability, security and better ecosystem integrations.
As stated, DAOs facilitate decentralized decision-making and foster coordination across sectors such as gaming, art and governance. STP’s team sees more potential in DAOs apart from their collective values and goal-sharing.
DAOs allow individuals to interact in shared realities. In the same vein, STP's Autonomous Worlds (AWs) empower individuals to freely manifest and share their imaginative realities.
Blockchain and web3 have helped to redefine how developers can unleash their creativity in gaming. Yet, metaverses and web3 games remain confined to their own realms, with little to no possibility of making their worlds a shared reality. AW takes the web3 revolution a step further, allowing anyone to participate in the continuation of an existing world on-chain in real time.
STP aims to facilitate the shift of DAOs into Autonomous Worlds by creating an ecosystem that includes native tools and infrastructures as the base for on-chain games, worlds and communities. Currently, the STP Network has over 440 DAOs. Some of the notable names on the network include:
STP DAO — a comprehensive set of tool kits to support decentralized decision-making
Mighty Magic — an on-chain game ecosystem aspiring to bring magic back to gaming
Paladins DAO — an Esports team looking to enhance ownership and incentivization
ChatGPT DAO — a web3 space for AI and ChatGPT enthusiasts
Clique is STP’s one-in-all DAO platform for users to access multiple DAO activities via a single dashboard. With Clique, users can easily create and manage DAOs and even build tokens for them. Features such as SDK and DAO rewards allow users to create a fast and easy voting and cross-chain governance system, and to grow their community through incentives and rewards.
The STP team believes that multi-chain interoperability is the future. Toward this inevitable reality, the team has partnered with ZetaChain, a protocol-agnostic blockchain, to provide omnichain interoperability on Clique. Users can now create omnichain DAOs and leverage STP’s smart contract capabilities in order to participate in community voting and governance without having to bridge their assets to one chain.
As STP’s comprehensive dashboard, Clique allows users to find DAO tooling, manage their activities, sync information and receive multiple DAO updates all in one interface. This eliminates tooling fragmentation for an overall better user experience.
The STP team has progressively improved Clique to achieve an optimized ecosystem for DAOs. In response to user feedback and the need to enhance web3 efficiency, they’ve recently launched Clique V3, which includes new features, such as a web3 Workspace and DApp Store.
Let’s look at some of Clique’s key features.
STP provides an end-to-end platform with all the tools developers need to create DAOs. Its team has also set up a framework that allows team managers to assign roles to members, post jobs and accept applications from a pool of web3 builders.
Task managers can use templates to create tasks attached to a passed proposal, or modify details like deadlines for existing tasks. DAO management admins can also create custom dashboards that can turn into to-do lists, and utilize the calendar to alert the community to upcoming events and deadlines.
Clique supports decentralized cross-chain governance for DAOs on Ethereum without the need to issue tokens. Reduced fees on Layer 2 chains, such as Polygon and STP Network's own sidechain, allow projects to implement affordable governance activities like proposal creation and voting systems.
STP lets you utilize a governance contract to create a proposal. Other users can vote using their unique signature. Their voting power depends on the snapshot of their token holdings. A data bridge then synchronizes the data and communicates the results between the DAO’s chain of origin, Ethereum, and Polygon or the BAS chain.
The native token of the STP Network, STPT is an ERC-20 utility and governance token used to manage other tokens on the platform.
The STPT DAO token is used to:
pay for transactions on the ecosystem, including gas fees
stake to earn rewards for participating in governance activity, including proposing, voting, and electing validators
STPT’s fixed total supply is 1,942,420,283 tokens, all in circulation, with allocation as follows:
As of Oct 26, 2023, the price of STPT is $0.07, which is 74.51% lower than its all-time high of $0.27 on Oct 6, 2021 and over 960% higher than its all-time low of $0.0065 on Oct 1, 2019.
Pricing experts are pretty bullish on STPT’s future price. According to PricePrediction’s forecast, the token is expected to rise to $0.13 by 2025 and increase to $0.82 by 2030. Another price prediction portal, DigitalCoinPrice, anticipates that STPT’s price will hit $0.25 in 2025 and rise to $0.72 by 2030.
STP is determined to streamline the creation and management of DAOs. One of the first giant steps STP has already taken is to strive for progress by exploring the use of AI in DAOs. While DAOs, by design, are already incorporating AI through smart contract technology, the team believes there’s greater potential for efficiency and enhanced governance capabilities.
Privacy is one of the biggest concerns in the crypto space and the world. Yet, in their current state, DAOs work with public records as their unique way of promoting transparency and fairness. Combining DAOs with zero-knowledge proofs to boost user security and privacy is another significant step that STP Network is leveraging to make it the developer base in the web3 community.
Lastly, the STP Network has set forth an ambitious agenda, positioning itself as a project of great promise. It’s creating an identity framework for users and builders looking to expand on-chain realities in Autonomous Worlds (AWs) and as an extension of one’s values, decisions and experiences into a virtual embodiment with on-chain assets and NFTs.
STP is ardent in empowering users to fully interact with the AW, protect their autonomy and enhance their asset ownership capabilities. It's a good investment for individuals who believe in an AW identity that embraces continuity, voting power for NFTs in DAOs and other numerous web3 possibilities.
However, this information isn’t financial advice. Cryptocurrency investments come with a high degree of risk. It’s prudent to do your own research before investing in the STP project.
Would you like to buy STPT? Bybit makes it easy to buy STPT as a USDT Perpetual contract. Simply sign up on Bybit to create an account, find the Perpetual contract (STPTUSDT) and open an order. That’s it — and you're a part of one of the best AW projects.
STP Network has established its presence in DAO and DApp building by creating an ecosystem of tools and infrastructure that cuts across sectors. Creating an inclusive DAO ecosystem and utilizing its abilities to promote individual expression allows users to become active contributors to blockchain realities.
By leveraging their expertise in DAO tooling, embracing technologies like AI and building valuable partnerships with major network and industry experts, STP is set to become the groundbreaker for successfully evolving DAOs into Autonomous Worlds.
One thing is certain: Solving the limitations facing DAOs on Layer 1 blockchains will increase STP’s adoption and, consequently, the possibilities it opens into AWs. The larger community can only wait to see whether this paradigm shift in the digital realm will materialize — and what opportunities it will create for the future.
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