Star Network Review: StarNetwork.io: is Star Network Legit, Real, How Does Star Network Works, What is Star Network? Star Network social Network and many more about Star Network will be discussed in this Review.
The Future of Social DeFi.
Star Network is a social network with payment function for users to store, grow and transfer your Star balance with your peers. It is also the future’s decentralized finance platform with exchange, borrowing & lending, wallet & payment functions
What is Star Network?
Star Network is a social DeFi (Decentralized Finance) network with the core objective to rebuild the financial world in a decentralised way by social power. It’s an invitation-only platform. It lets users grow their balance of Star as a reward for inviting their trusted people to join the network. Star is a new form of digital currency.
It also serves the function of social communication and peer-to-peer transactions between users. When the project develops and evolves, Star Network will develop its own blockchain main net for Star and list Star on major exchanges, also offer further decentralized finance solutions like decentralized financing, wallet & payment, crypto exchange and furthermore. It is missioned to be one of the world’s largest one-stop decentralized financial platforms.
Star Network capitalizes on democratizing the earning of cryptocurrency and the use of blockchain technology to everyday people, while mainstream cryptocurrency network like Bitcoin Network has set entry barrier too high that only a handful of professionals with in-depth knowledge and abundant resources can stand a chance in to earn a new coin.
Star Network enables users to earn Star easily through our app, this is contradictory to the huge energy wastage incurred by supercomputers when earning Bitcoin. Star Network also recognizes user contribution to the build-up and development of the network in which users will be rewarded with extra Star balance when users have invited new joiners to join the network.
How Does Star Network Works?
Grasp Financial Future without Hard Cost. All you need is a mobile phone and internet connection. And yourself being a real person who can pass KYC. That’s it.
All-in-one Social DeFi App
- Messenger: Doesn’t matter we met, in app we chat
- Grow Your balance: One simple click, financial freedom awake
- KYC : Know your customer, no more scammer
- P2P Transfer: Once pass KYC, balance transfer P2P
Keep it Real. No More Robots
You have full faith in a new DeFi project which rewards you based on the new users you referred. You worked hard pitching all your friends to share the same faith with you. Then you realize another person in the 3rd world using low-tech tools to create numerous fake accounts and register as his “referee”. His balance surpasses you by miles, and then he passed KYC himself.
What a heartbreaking moment. Sadly, lots of other DeFi projects have not tackled this root cause of unfairness and reward scam users with high balance.
Not the same in Star Network. Star Network is a referral-only network with KYC features to ensure user’s validity. You earn “Nominal balance” from all users joining your team. However, only balance contributed from KYC-ed users will be converted as your “Realized balance” where you can withdraw or transfer after yourself passing KYC.
This means for scam users who fraud by creating fake accounts, these fraudulent balances can only be “Nominal balance” which has no value as they can never be realized.
Future DeFi Projects
- Decentralized Financing: Borrow and lend fiat money or financial assets easily. Earn Up to 30% p.a.
- Decentralized Wallet & Payment: Pay and receive fiat money or financial assets seamlessly.
- Decentralized Exchange: Buy and sell financial assets securely without intermediaries.
- Decentralized Financial Infrastructure: Issue our own crypto-fiat debit card. Enjoy Lifestyle Benefits. Members will get free access to digital services and exclusive offers with merchants.
How to earn on Star Network and earn Star faster?
Their app enables you to earn Star by making contributions to the Star Network community. To start earning Star, login the app and click the rocket button to activate a 24-hour earning session. In addition, you can earn extra by inviting new users to join Star Network with your referral code. There is no limit to how many users you can invite with your referral code, so you may invite as many peers as you want.
There are 4 tips that can help you to earn Star faster and thus enjoy it better.
- Stay committed, come back every 24 hours. As each earning session will only last for 24 hours and will stop until you have manually initiated another session, the simplest way to earn Star faster is not to leave any gap between any earning session. Just develop a practice of spending 5 seconds at the same time every day to initiate a new session and maximize the value of time.
- Earn your surprise gift. Every 12 hours, you will be able to “Draw Power-up” on your app’s home screen. You will be rewarded with a bonus rate from 1 – 100% of your eligible earning rate. Good luck!
- Spread the words, build a better future together. For every new member who has joined Star Network using your invitation code, they automatically become your Booster (and you are the Rocket). When both of you have initiated your earning session, each Booster will boost your earning rate by 25%. Referral bonus rate is uncapped, which means that you can invite as many people as you like. So let’s spread the words and invite people to join Star Network upon your referral.
- Be an early bird, start earning before the rate halves. Rate halving is a common practice in the cryptocurrency field, in which the supply rate will be cut by 50% upon a certain timeline. Star Network will conduct rate halving 3 times in the entire project road map before ceasing new supply, so you will be better off to maximize your earning before each rate halving happens.
Does using the Star Network app mean mining cryptocurrency on the phone?
No. Star Network app, and the entire Star Network project, do not utilize your mobile phone to “mine” cryptocurrency. In the current stage, the purpose of their mobile app is to communicate with their server on the cloud to record the earning of your Star balance and any peer-to-peer transactions.
Does the Star Network app also serve as a wallet for Star?
Yes, your mobile app will serve as the wallet of Star. Prior to the KYC process, your identity with the app is linked to accounts (Apple, Google, Facebook, email) you used for registration.
What is the value of Star?
As Star is forecasted to be listed on major exchanges by December 2022 where users can trade Star with fiat currencies like US Dollar, the market value of 1 Star can only be confirmed by that time. Just like any other financial assets, the value of Star is governed by supply & demand. Here are the several key measures that Star Network has adopted to support the value of Star.
When can I withdraw Star on Star Network?
Everyone’s wallet is active. Realized Balance can be transferred to any other Star Network wallet holders, regardless of your KYC status. You may also receive Realized Balance from other users even if you have not passed KYC yet. By the time Star is listed on exchanges, which is forecasted to take place in December 2022, you will be able to trade Star with fiat currencies. Upon the on-going development of Star Network as a one-stop social DeFi platform, there will be more & more practical applications of Star.
What is the total supply of Star?
Star Network ceases supplying new Star when there are over 100 million registered users worldwide. Hence, the total number of Star supply depends on the earning activity of the entire community prior to cessation of new supply.
What is KYC and how do I get it?
KYC refers to ‘Know Your Customer’, which is an identity verification and compliance process to ensure that our users are human instead of robots or fraudulent accounts. This process is essential during the early stage as it protects the users’ data privacy and tackles any security issues.
Star Network App
The Star Network App is available on App Store and Google Play Store for download.
Who is the Owner/Founder of Star Network?
The core team consists of ex-senior executives of investment banks including Goldman Sachs, Morgan Stanley.
Is Star Network Legit or Scam?
Star Network is a revolutionary project in decentralized finance led by a team of genuine DeFi enthusiasts. Although its success is not hundred percent guaranteed, it is our entire community’s aspiration to make it happen. However, Star Network will never require users to make any payment to us for participating in our project. We also discourage users from trading Stars with fiat money before Star is officially listed on major exchanges.