We Rugged!

Removing liquidity from the BNB-STT Liquidity Pool under your nose.

Some of you may have realised this the past few days; when we removed BNB from the previous BNB-STT liquidity pool. This move definitely caused an uproar amongst many of you, thinking it was a rugpull of some sort.

Well, you guys were right about the BNB, but not entirely…

What Really Happened?

Yes the BNB was removed from the pool, but it's far from a rugpull. It was swapped with an equal amount of BUSD. That means the current pool is swapped to a more user-centric BUSD-STT pool rather than the previous market-centric BNB-STT pool.

Why The Sudden Move?

After careful investigation and thorough research into the current market situation, we’ve decided to make the pool more user-centric. The previous BNB-STT pool price change and volume depend entirely on the market value of BNB placed inside the pool.

When the general crypto market drops, the value of BNB would be directly affected, thus negatively impacting the value of STT. That means STT is fully dependent on market demand, proving value volatility.

Swapping the BNB for BUSD allows the current value of STT to be retained while inheriting the benefits of BUSD stability.

Pairing STT with BUSD, a stablecoin, allows the value of STT to be stable; not affected by the volatility of the crypto market. It allows the pool to be more human-centric, where the volume of the token relies on the actual in-game demand rather than the market trend.

What Does It Mean For Us?

Customer satisfaction and comfort have always been top priorities for us. As a Gamefi built for sustainability, we place our utmost focus on stability; therefore it is essential to assert stability in our in-game currency.

This move allows the value of STT to be less volatile from market trends, thus developing an ideal token for users to utilise at a constant rate for the long term.

In Layman’s terms, STT would be a better and more stable in-game currency for users to utilise without worrying about bear or bull market trends.

Conclusion

To sum things up, no this is not a rugpull. In actuality, it is an effort made by the Monsta devs to develop a more stable currency for all users to utilise in the Marketplace and other future products.

These are big moves made silently by the Devs, setting up the stage for bigger things. What do you think the Devs have in mind?