Strike is different than most money markets (such as Compound) because of their decentralization.
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What Is Strike (STRK)?
Strike is a decentralized money market that enables users to borrow and supply digital assets to the protocol within a non-custodial environment directly within the Ethereum blockchain. This means that users, at all times, have control of their digital assets and are bound by the protocol’s parameters directly on-chain. The protocol is autonomous and algorithmic with its parameters being controlled by governance proposals and yield curves.
The main functionality of Strike is to enable users to supply collateral to either earn as a supplier or to use as collateral to borrow other digital assets from the protocol.
How Does Strike Work?
The Strike Protocol is governed and rewarded by its native cryptocurrency called Strike Tokens (STRK). Strike Tokens are built and deployed on the Ethereum blockchain and are ERC-20 based assets. STRK enables users to create proposals, vote on proposals, and participate in liquidity mining incentives on the platform. Strike Tokens were made available through distribution to holders and users. This means there will be no team supply, the protocol will be decentralized, and the users will mine the remaining supply until the max supply is reached.
The History Of Strike
Strike is a decentralized finance platform. There are no teams or founders and the protocol is to be operated by the community and be fully decentralized.
The main network launch and token swap availability happened in March 2021.
Is Strike (STRK) A Good Investment?
Some crypto projects fail for various reasons, but one in common is the team going rogue and abandoning the project. The good thing about Strike is it’s completely decentralized so there is less risk of that happening.
As you can see on the graph below, the network launched in March 2021 with a price value $71 but it hasn’t stopped going on a downtrend and it’s currently sitting below $20. But then again, the crypto market experienced a crash shortly after so STRK hasn’t had time to experience a bull run.
Strike is still at its infancy but it is definitely a project you want to keep an eye on, as it could reach another all-time high in the future.
To stay up to date with the current STRK price data, click here.
Should You Buy Strike (STRK)?
If you have done research on the team, vision, whitepaper and you are satisfied with what Strike has accomplished so far, then potentially it could be a great investment for the long term. Perhaps invest small, and wait for market direction before buying more.
Cryptocurrencies can be risky, so invest wisely and be careful with your hard earned money. As a rule of thumb, never invest money you can’t afford to lose.
The Strike Whitepaper
Strike released a whitepaper that describes the solutions that it is trying to solve, as well as proposed adoption dates for it.
If you want to read the Strike whitepaper click on the button below.
How Many Strike (STRK) Coins Are There in Circulation?
The current circulating supply of STRK is 3.3 million coins, and the max supply is 6.5 million coins.
How Can You Buy Strike (STRK)?
It’s actually quite easy to buy STRK coins. All you need to do is follow these four basic steps:
- Create an account on a cryptocurrency exchange that lists STRK. Below we share some of these exchanges.
- Complete the identity verification process. Some exchanges require a scan of an identity document such as a passport or driver’s license.
- Transfer money from your bank account to the crypto exchange. The exchange may accept other payment methods, but bank account transfers typically have the lowest fees.
- Once the money is available in your account with the exchange, select the “buy” option to purchase STRK.
Where Can You Buy Strike (STRK)?
If you would like to purchase some STRK coins, below are a handful of cryptocurrency exchanges which list them.