What is SSLX (StarSlax)?

WhiteBIT
Published 14 April 2023
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What is SSLX (StarSlax)?

Content

Sl8 (Slate) is the first crypto-social ecosystem from Ukraine, providing users with their own crypto wallets on the Stellar blockchain worldwide. The startup was founded in 2019 and is registered in the USA. The CEO of the project is Dmytro Ivanov. Sl8 is a social network that stands out for its focus on privacy, security, and the absence of censorship. In addition, one of the advantages of the project is news feeds that users can customize.

Sl8 respects the privacy of its users, so it doesn’t track them at all. You’ll see no targeting or advertising on the platform, instead there is a hierarchical content moderation system. The platform also offers automatic content monetization through cryptocurrencies, enabling users to make crypto payments and transfers inside the app.

What is SSLX (StarSlax) and Sl8?

SSLX (StarSlax) is Sl8’s utility token. The platform provides its own SSLX cryptocurrency wallet, which you can find in the main menu. Users can access bonus BSLX tokens without registration; however, they must activate their wallets to use Slax (SLX) and StarSlax (SSLX).

Also, Sl8 sometimes holds activities where users can buy SSLX meeting the special conditions.

How to get SSLX?

Sl8 is a unique project that allows its users to receive crypto for the content they create. Crypto coins act as a replacement for traditional likes, and users can choose between coins with a stable rate (SlX = 0.01 USD), social network coins with a floating rate (SSLX), and free bonus tokens (BSLX). Therefore, one of the ways to receive SSLX is creating interesting content on Sl8, so the other users will reward you with SSLX tokens.

Additionally, SSLX is a native Sl8 token backed by Cassator Corp’s capitalization. Users with crypto wallets on the platform can hold SSLX and exchange it for any token on Stellar DEX (such as USDC or XLM) or for UAH on WhiteBIT.

What are the benefits of SSLX?

SSLX has several advantages:

  1. Content monetization on the social network Sl8 allows users to receive crypto from other users for creating and publishing content;
  2. With the help of SSLX likes, you can support content creators, volunteers, and friends;
  3. SSLX also acts as an investment tool. Staking, activity Whitelist, and passive earnings are possible with a platform’s native token;
  4. Ability to convert SSLX to XLM and USDC, transfer between Sl8 users, and withdraw it on WhiteBIT without fees.

Tokenomics of SSLX

A total of 10 billion SSLX tokens have been issued, but only 1% of the total amount is released monthly to the market. With such withdrawal rates and volumes, the total release time is at least 8 years. The SSLX price started at $0.002 for one token in the first month on the market. Further, the tokens are issued at the market price, which cannot be lower than the starting price.

Cassator Corp supports the SSLX token, which means that the token’s price won’t fall below the company’s capitalization level. As the company’s capitalization grows, the cost of SSLX also increases with buybacks.

How to buy SSLX on WhiteBIT?

You can buy SSLX on WhiteBIT by placing a trade order. Before that, you need to create an account, confirm your identity (KYC) and top up your balance. How to place an order:

  1. In the upper-left corner of the menu, select the “Trade” tab and click “Spot”;
  2. In the right part of the terminal, select SSLX/USDT from the list or use the search box;
  3. In the lower part of the terminal, choose the type of order.
  4. In the “Quantity” field, enter the desired amount of the asset and click “Buy”;
  5. The balance will be credited immediately.