The value of the cryptocurrency market is currently estimated at over $ 1 trillion. Much of these assets lie idle on stock exchanges. This poses some risk due to repeated hacking attacks. The rest of the funds are in secure private wallets. Multiplying these savings is troublesome and requires technical knowledge. The promising STREAKK project, which solves both of these problems, offers cryptocurrency staking and additional business opportunities.
As you may already know, the financial world is moving more and more towards digital currencies. It is estimated that currently as many as 90% of banks use blockchain technology in their systems. Everything indicates that the amount of assets stored in cryptocurrencies will continue to increase in the long term. In the case of storing money in the banking system, we have the opportunity to profit from deposits. Is there a similar way to multiply your savings with cryptocurrencies? Of course! This mechanism is cryptocurrency staking.
Table of content
What is Crypto Staking?
To understand the idea of the Streakk project, I will first introduce you to crypto staking and present the problems associated with it.
Crypto staking – what is it about?
Simply put, cryptostaking involves storing cryptocurrencies on a specific wallet in order to keep the blockchain network safe and receive some kind of reward for doing so. While Bitcoin is mined on the basis of the so-called Proof-of-Work (miners’ computers do expensive calculations to mine a block), many newer cryptocurrencies already run in the more energy-efficient Proof-of-Stake model. It consists in the fact that market participants can block their coins for a certain period of time, and in return the protocol randomly assigns them the opportunity to approve the block, for which the owner is rewarded with a certain amount of coins.
From the perspective of the owner of funds, staking crypto can be easily compared with the temporary blocking of assets on a bank deposit in anticipation of a certain return on such an investment. But where do the staking prizes come from?
If you have ever made any cryptocurrency transaction, you have certainly noticed that you have to pay a certain transaction fee for the transaction. Who does this fee go to? For people and institutions that ensure the security of transactions by blocking their funds with the help of staking. These entities are called validators.
Crypto staking – problems
In practice, the staking income is the greater and more stable, the more coins the validator has in its portfolio. Most protocols even have a certain minimum amount of coins that you need to have in order to become a validator. It is usually so high that the average user can only dream of earning income directly from staking on the network.
There are crypto staking companies that allow private customers to contribute to their pool. This allows users to profit indirectly from staking. A few examples of such institutions are Allodes, Stakin, or Stakely.
Crypto staking is also available indirectly through some of the exchanges, led by Binance. In this case, it is technically much easier. However, keeping large amounts of money on any exchange involves some risk. There is a famous saying “Your keys – your crypto”. As long as the funds are kept on the stock exchange, the stock exchange is their real owner.
The entire investment process is therefore based on trust in the exchange institution. Additionally, when staking on the stock exchange, we are usually forced to temporarily block these funds. In the case of a sudden desire to resell such a cryptocurrency (e.g. after an increase in price), we have to wait up to 24 hours for a refund and say goodbye to interest.
Therefore, staking cryptocurrencies on your own can be quite troublesome. It requires good knowledge of issues related to blockchain technology, handling multiple wallets and transactions between them, or the selection of appropriate validators and their verification.
Let’s check what the Streakk company offers us in this matter.
Staking crypto with Streakk
In short, thanks to Streakk, we can easily derive rewards from crypto staking, while they are still on our wallet, to which we have private keys.
Streakk – briefly about the company
The concept of the Streakk company was created in 2019. In 2021, the terms of cooperation with many validators were negotiated and the first tests were started. In 2022, the website and Whitepaper were created and the first version of the portfolio was completed. The official start of the project took place in July 2022, and the full functionality of staking with the mobile application was launched on 10/10/2022.
The company has offices in Singapore (where the main developers work) and Dubai (headquarters).
The face and CEO of the project is the remarkably open-minded 52-year-old entrepreneur Suki Chen. He has a lot of experience in both the blockchain industry and classic business. He has already served as an advisor on several other cryptocurrency projects. Apparently, it also cooperates with the governments of several Asian countries (including Singapore, Thailand, Philippines, Indonesia) in implementing blockchain technology.
Streakk Wallet – staking crypto on your own wallet
Streakk’s core product is a secure cryptocurrency wallet that connects to multiple validators to automatically obtain specific staking rewards. The user has access to the coins all the time and they are not blocked. At the same time, the security of funds is ensured, because the user always has the private keys to the wallet. With Streakk, you will be able to earn cryptocurrencies without any additional investment and without giving them to anyone else.
Streakk Wallet – available cryptocurrencies
At the moment, there are 8 cryptocurrencies available for staking. By the end of 2022, there should be 20 of them. The annual interest rate is predetermined and for the first 8 coins it looks like this:
Perhaps you are surprised that among the cryptocurrencies available for staking is Bitcoin, which after all does not work in the Proof-of-Stake protocol. Well, in this case it is the so-called Marketing staking, meaning Streakk pays BTC interest out of its staking profits from other cryptocurrencies. You must be aware that staking cryptocurrencies in the case of large companies brings up to 40% of profits per year. Part of these profits will be paid to users and the rest will be the company’s profit.
Streakk Wallet – security
After downloading the wallet (it was made available in the Apple Store on 2/08/2022 and in Google Play on 4/08/2022) you will have to save your seed consisting of 12 words in a safe place. These words are your private key, which you cannot share with anyone. In the event of loss of access to the wallet (removal of the application, loss of the phone, etc.), it will allow you to restore access to your cryptocurrencies. It will be possible to do this even using a different wallet, provided that it is compatible with Binance Smart Chain (this is the blockchain that the Streakk wallet uses). Using the application does not require any special technical knowledge. You can see the look and functionality of the portfolio in this video, where the staking instructions in German are presented. After registration, you will receive a full manual in English from me.
The Streakk wallet is fully decentralized. You have the private keys and Streakk has no way of claiming those funds. Their only task is to allocate the portfolio to one of the validators Streakk works with in order to receive the highest possible staking remuneration. The selection of validators is automatic and depends on where you can get the highest return at the moment.
When starting to use the application, you can also enter your seed from an existing wallet, eg MetaMask. The Streakk application will then allow you to receive rewards from staking these funds. Security is fully preserved here, as the Streakk application does not collect any data, as confirmed by information from the Apple store.
Streakk Wallet – no funds are blocked
By keeping funds in your Streakk wallet, you have access to them at all times. The funds are not blocked in any way and you can withdraw them at any time. However, the prizes will be paid out on a weekly basis. Streakk will only pay out rewards for those cryptocurrencies that are in your wallet at all times from 0:01 UTC on Monday to 23:59 UTC on Sunday each week. Payment of prizes will be made every Wednesday based on the situation of the previous week.
Streakk Wallet – how does it work?
The Streakk company cooperates with over a dozen partners and validators to whom funds from Streakk Wallet may be delegated. These companies have a technical infrastructure capable of directly participating in staking and receiving remuneration for their work.
Partners confirm transactions in blockchains, for which they receive remuneration. Part of the salary is returned to Streakk, and a predetermined percentage goes back to the client’s wallet. Thanks to the dynamic selection of validators, the profits from staking should be maximized and more stable. If one of the validators has problems, the funds will be transferred to another validator.
An additional product of Streakk is also to be its own blockchain. At the moment, its start is planned for the third quarter of 2024. It will have much better parameters than the most famous currently functioning blockchains. The company’s plan assumes that the governments of countries introducing their digital currencies will be able to use blockchain.
Blockchain is to be characterized by low energy consumption, low fees as well as high throughput and speed.
The STKK token is also associated with the Streakk project. So far, it is only listed on one stock exchange – Lbank. The token was placed there on 6/16/2022 with a starting price of $0.10 which shot up almost immediately. Currently, its price is around $350. This proves that the project began to enjoy considerable interest from the very beginning. You can read more about the token itself in the following chapters.
Streakk – how to earn more?
By using the Streakk wallet, we can therefore store our cryptocurrencies in a safe way without any investment, and additionally easily generate rewards of 7% to 20% per year. However, it is possible to increase the staking interest rate by purchasing the so-called Node. It also comes with a few additional benefits.
Each user has the right to buy a “VIP account” in the program by purchasing any number of nodes (Streakk Node).
Streakk Node – increasing the staking interest rate
Depending on the price of the node, it increases the staking interest rate on our Streakk wallet for all cryptocurrencies for 7 consecutive years:
- Shared Node – from $100 – gives an additional 2% to staking interest
- Dedicated Node – from $5,000 – gives an additional 5% to staking interest
- Dedicated Node Pro – from $25,000 – gives an additional 8% to staking interest
After purchasing a Node, you can therefore get an even higher staking interest rate for your cryptocurrencies. In the case of BTC, you can get a maximum of 15% per year, with ETH it is already 18% per year, etc.
Streakk Node – other benefits
In addition to increasing the staking interest rate when buying a Node, we get 3 additional benefits:
- After you purchase a Node, you will receive STKK coins equal to the amount you spent on the purchase, and they are frozen for a period of 100 weeks. To calculate the amount of STKK coins received, its average price from the last 48 hours is taken into account. For example, when you buy a Node with a value of $1000 and a STKK price of $100, you will also receive 10 STKK coins, which you will be able to withdraw / sell / stake in less than two years.
- For 100 weeks from the moment you buy a Node, you will receive 2% of the Node’s value per week. So if you spend $1,000 buying a Node, you’ll be getting $20 a week for less than two years. I have not yet obtained confirmation whether we will receive these rewards in the STKK token or in the USDT. Withdrawal of funds is possible in the STKK token from the amount of $ 50, and its cost is $ 10.
- After purchasing Node, we have the opportunity to profit from an attractive affiliate program, which I will describe in more detail in a moment
Streakk – affiliate program
Streakk offers a very simple affiliate program with great potential. It works by registering other people using your own reference link available after logging in. There is no other way to set up an account than to follow someone else’s link. It is therefore possible that when people hear about the existence of such a wallet, they will search for a place from which they can register. The Streakk affiliate program consists of 3 sources of income and a few additional rules:
Streakk affiliate program – sources of remuneration
- Uni-Levels – From the purchase of each Node of the person recommended directly, you get 15% of the amount that they spent on the purchase of Node. From the next 14 levels of recommendation, you can get from 1% to 10% of the generated sales amount. An additional requirement for using a given level of recommendation is having a corresponding number of people directly registered. So if, for example, you invite 3 people to the program, you will receive funds up to 3 levels of recommendation in depth.
- Bonus for rank – After reaching certain amounts of accumulated sales from our entire recommendation tree, you receive one-time bonuses. The sum of the bonuses received will constitute approx. 8% of the total generated amount from our structure. A single leg in our structure may generate up to 40% of the turnover needed to achieve a given level. Each payout will be paid for the next 4 months in equal installments.
The achieved turnover never resets and there is no time limit. So, for example, after generating a turnover of $100,000 across your structure, you will receive a bonus of $4,000 spread over 4 installments of $1000.
- Global lifetime pool – from the moment you generate $25,000 of accumulated sales, you get access to shares in the bonus pool. 10% of the company’s global sales value falls into the entire pool. First, we get access to the level of 2.5% of the pool and share the profit in it with all people who have gained access to this pool. On the next 3 levels, we gradually gain access to another 7.5% stake in the pool and share it with people who have reached these specific levels. The profit in each pool is divided proportionally to the generated sales. This means that the person who generated $60,000 in turnover will get 2x more from the pool than the one who generated $30,000, despite the fact that they have access to the same percentage level.
All salaries from these three sources will be paid in the form of USDT cryptocurrency. The company guarantees that withdrawals ordered by 23:59 UTC every Sunday will reach us on Wednesday at the latest.
Streakk affiliate program – additional rules
Two additional rules apply to all types of remuneration:
- Buyback Wallet – 80% of all our affiliate salaries can be withdrawn immediately and the remaining 20% is frozen for 100 weeks from our perspective. This amount goes to the so-called Buyback Wallet. The funds that go there are used by the company to buy STKK tokens from the market and burn them, which causes a systematic decrease in the number of coins on the market. The burning of tokens will take place every 2nd day of the month, starting on 02/08/2022. After 100 weeks, the company will kind of return the loan it took out and we will be able to withdraw the funds. 20% of all remuneration from the affiliate program goes to Buyback Wallet.
- Limiting the maximum remuneration to four times the contribution – this rule says that the amount of remuneration received can be up to four times the amount you spent on the purchase of Nodes. This means that if you spent $1,000 on buying a Node and our total salary is approaching $4,000, it should be a logical decision to buy another Node to increase your limit.
These rules are aimed at stabilizing the generated turnover in the structure and strengthening the value of the STKK coin.
Remember that Streakk is in a very early stage of development. The wallet was only launched in October 2022, social profiles (Youtube, Facebook, Instagram) are creating the first content, and practically no one has heard of the project yet. So this is a great time to publicize your project, for which you can be generously rewarded.
Streakk – project tokenomy
The aforementioned mechanism of buying and burning STKK coins related to the Buyback Wallet is the main element of the policy of maintaining the STKK token and its Total Supply (total amount on the market) at the appropriate level. 20% of user remuneration is spent on buying STKK from exchanges, and then all purchased coins are burned.
The Whitepaper defines how the STKK coins were distributed when the project was created.
The assumed number of coins was 100 million at the beginning. Half of this was to be used to pay out prizes to users. 15% went to the development team. 5% went to the relatives and friends of the creators of the project, 10% was sold to the public, 10% was to be spent on marketing, and the remaining 10% were funds for the emergencies.
After a large increase in the price of STKK, on July 30, 2022, Suki Chen announced on a public webinar that the number of coins will be reduced tenfold by the end of the third quarter of 2022 (from 100 million to 10 million). A detailed plan for reducing the number of coins was also presented.
Immediately after the announcement of this plan, the price of STKK shot to $250, and on August 2, 2022, 77.5 million coins were actually burned (sent to a wallet with an address “zero” to which no one has access), leaving only 22.5 million in circulation. The entire operation can be checked on the blockchain here. As announced by Total Supply, it has already dropped to 10 million coins. The further burning of coins will continue to be repeated every second day of the month.
All this mechanism, in accordance with the law of supply and demand, should lead to a gradual increase in the value of the STKK coin. New users, after increasing the value of STKK, will still be able to buy Nodes, but they will receive a smaller amount of STKK.
Streakk – my opinion
Streakk – potential
I decided to enter the Streakk project because of the many earning potential and very early stage of development. An investment in Streakk has a good chance of paying off, and it comes from several sources:
- Using Streak Wallet, which allows you to safely store your own cryptocurrencies and earn from staking them
- Increasing your staking interest by a few extra percent by buying Node
- Expected increase in the value of STKK coins that we receive when we buy Node (possible sale after two years)
- Double your Node investment return on receiving 2% of your investment every week for 100 weeks
In addition, great opportunities are created by being active in the Streakk affiliate program. At the moment, there should be no more than several thousand people registered in the system globally. A few days ago, the company’s social channels were opened and the marketing campaign has yet to take off. This creates great opportunities for the operation and development of your group, for which high salaries are guaranteed.
A secure cryptocurrency wallet with a simple staking function should be an interesting option for many people with any cryptocurrencies.
When it comes to assessing the potential of the project, there is only one assessment – the potential is unquestionably huge! Therefore, one should ask the question about the credibility of the project.
Streakk – credibility assessment
Streakk – solvency
The first question that puzzles me is whether the system will be capable of paying all promised wages over the years.
I have no doubts about the affiliate program, because you can easily calculate that not more than 74% of the amounts from the sale of nodes are paid there. The rest of the Uni-Level levels will remain inaccessible to most users, which will significantly reduce the costs of paying wages.
Wages in the form of 2% per week for 100 weeks from the purchase of Node are more questionable. If the entire economy of the project was based on a fiat currency, I would seriously fear that we are dealing with an inefficient system. However, using the native STKK token for payment may cause the system to be properly secured. Keep in mind that the company has many tokens from the initial stage of project development, which are already worth millions of dollars.
Ultimately, therefore, I do not undertake an assessment whether the system will certainly be solvent in the coming years. There is a certain risk here that everyone has to assess for himself.
Streakk – the creators of the project
The Streakk project has the great advantageThe Streakk project has the great advantage that its creator does not remain anonymous. His entire professional history can be traced on his LinkedIn profile (visible after logging in). There are his industry photos and traces of participation in several other projects.
An additional advantage is the fact that the company’s CEO personally conducts webinars and Q&A, which are available on Youtube. From time to time, there are also company meetings in various parts of the world (recently India, Dubai), where leaders from our team are also present.
Streakk – How to start?
If you’ve already made your decision to join the Streakk project, follow the instructions below to complete the registration and Node purchase process painlessly.
To sign up for the Streakk project, click the button below and fill out a simple form:
After registration, go to your mailbox and click on the confirmation link, then log in to your account.
The first step in purchasing a Node will be to make a deposit to your Streakk account. To do this, go to the “Node Infra -> Load eUSD” tab, and then click the “Get Wallet Address” button. Then you will get an address to which you will have to transfer funds.
When making a transfer, remember that you can only send USDT via the TRC20 (TRX) blockchain. To the amount you intend to transfer, also add the amount that will be charged for transaction fees – in my case it was 0.8 USDT. Below you will see an example screen with the appropriate network selection marked when ordering a withdrawal from Binance.
After making the deposit, wait approx. 10 minutes for the funds to be credited to your Streakk account.
When the funds are credited, you can proceed to purchase Node. To do this, go to the “Node Infra -> Buy Node” tab. You have many investment amounts to choose from here. They start at $100. Individual columns differ in the additional interest rate on your staking. From the left, the values will be 2% (Shared Node), 5% (Dedicated Node) and 8% (Dedicated Node Pro), respectively.
After selecting the amount, pay attention to the amount of STKK you will receive after two years. It is calculated on the basis of the average STKK rate for the last 48 hours. After selecting the appropriate option, all that remains is to click the “Buy Now” button and confirm the purchase.
Once you become a member of Streakk, you can join to the official group on Telegram.
After purchasing a Node, you can also install the Streak Wallet application and familiarize yourself with its features. This is not a priority for now, as staking will not be available until the end of testing at the end of August.
During this time, it’s just as important to develop your recommendation group, if of course you feel like it. You can do this by sending your friends this article along with your reference link, which you can find in your profile.
By the way, I will briefly guide you through the backoffice that you will see after logging in.
Streakk – Backoffice
- 1 – Your referral link that you can pass on to your friends
- 2 – Total earnings so far from all sources (affiliate program + 2% per week from Nodes)
- 3 – Available USDT – these can come from the deposit paid and from the affiliate program
- 4 – Available STKK tokens – in this case they come from the Node Reward (2% per week from the Nodes)
- 5 – STKK tokens received for Node purchases and frozen for 100 weeks
- 6 – Current Buyback Wallet value (20% of affiliate program salaries – loaned to the company for 100 weeks to buyback and burn STKK tokens)
- 7 – Listing the source of all salaries
- 8 – Name of the next unreached rank
- 9 – Presentation of the turnover achieved as part of the turnover required to reach the next rank
- 10 – Summary of the 40% rule (a list of direct legs with an indication of what turnover they generated and information about the maximum turnover that can be taken from them to complete the next rank)
- 11 – Total earnings so far against the maximum payable earnings (four times the amount spent on your own nodes)
- 12 – The number of “Uni-level” salary levels available is equivalent to the number of people directly recommended by you
In addition, in the “Team” tab you can see your entire recommendation tree, and in the “Income” tab you can find out a detailed history of all your salaries. The “Node Infra -> Node Rewards” tab contains all “2% per week” remuneration accruals from each of your Node. This remuneration is actually accrued daily at the rate of about 0.285% of Node’s value each day and is exactly 2% per week.
In my opinion, the Streakk project has great potential. If its developers continue to fulfill their announcements, the large influx of users into the system is more than certain. The project’s clients can be both ordinary cryptocurrency holders looking for a safe staking portfolio, investors hunting for high rates of return, and people who want to build a business on the basis of multi-level marketing. Each of these options is so well designed that the Streakk project can be considered very attractive.
The very early stage of project development and the negligible number of people who have heard about it are a great opportunity to build a recommendation business on its basis.
In my opinion, the system is meaningfully designed and has a chance of surviving on the market. However, with any new projects, especially internet and cryptocurrency projects, you should always exercise some skepticism and caution.
It’s my job to analyze and present the design in the most reliable way possible, but the decision is entirely yours. I also encourage you to explore the project on your own and make your own risk assessment. Remember that no one is in the minds of the creators and knows what their plans are ultimately. If you decide to invest, only pay in the amount that won’t hurt you too much when you lose it.
- Whitepaper –> ENG
- Streakk – official website -> streakk.io
- LBank exchange where the STKK token is listed -> REGISTRATION / STKK/USDT trade
- The first presentation of the project by the CEO (07/15/2022) -> PRESENTATION
- Streakk social media -> Youtube / Facebook / Instagram
- Streakk – Registration -> REGISTRATION