INTERNET CITY, DUBAI, Mar. 21, 2022 – LBank Exchange, a global digital asset trading platform, will list STING (STN) on March 28, 2022. For all users of LBank Exchange, the STN/USDT trading pair will be officially available for trading at 16:00 (UTC+8) on March 28, 2022.
The digital music market continues to grow rapidly in recent years, however, the copyright protection for music-related workers still remains lacking, and the distribution of royalties generated from music is still not fair enough. To address these issues, STING (STN) developed a decentralized platform using blockchain technology to build an ecosystem so that composers can fairly receive royalties from their works while claiming full ownership of their contents. Its native token STN will be listed on LBank Exchange at 16:00 (UTC+8) on March 28, 2022, to further expand its global reach and help it achieve its vision.
Recently, Korea’s creative cultural content has been recognized for its value by communicating with the world, and cultural content, which is spotlighted for its various charms and diversity, is a market with steady development and expandability to enter the world. For cultural content to develop into a core industry, the composer’s passion must be properly valued, and copyright protection is essential for this.
STING is a decentralized platform developed using blockchain to build an ecosystem so that composers can fairly receive royalties from their works while claiming full ownership of their contents. It is designed to provide fair and timely rewards for all music-related content and services through STING’s platform. In order to correct the inefficiency of the current market, provide fair revenue to composers, and give them control of their creations, STING grants each composer a non-fungible token (NFT), allowing them to mint and trade ownership and copyright of their music. It will use its own token, STN, as a governance that can be used for ecosystem direction and agenda voting.
STING ecosystem participants can use the native token STN on STING’s platform to utilize the ecosystem as a whole. Using STN, ecosystem participation behaviors are also stored as STING’s blockchain technology. Composers and artists have the right to mint and trade their works by providing ownership and copyright to their sound sources through STING. Copyright holders with this authority will use STING’s NFT market through minting and selling through NFT for ownership and copyright. Buyers (users) who want ownership of the property can participate in the NFT market and purchase the desired work through STN.
In addition, participants, if necessary, in the ecosystem who have the NFT can sell the NFTs they have through STING’s NFT MARKET again, or exchange the NFTs they have through P2P transactions between users. Moreover, it will be possible to purchase real products in STING SHOP (tentative name) that will be released in the future.
About STN Token
STN is issued for the purpose of developing and trading NFT functions and marketplaces, point shops that can be used in the STING ecosystem, and for creating an ecosystem for transparent recording and management of information. It will also be used for marketing to expand the STN ecosystem, such as cooperation with other businesses, development of listing and independent blockchain networks, maintenance, platform construction, and countermeasures against market conditions.
Based on ERC-20, STN has a limited supply of 50 million (i.e. 50,000,000) tokens. 35% of the total supply is allocated to the foundation, 25% is provided for ecosystem, 15% will be used for development, and the rest 25% will be used for marketing.
STN will be listed on LBank Exchange at 16:00 (UTC+8) on March 28, 2022, investors who are interested in STING investment can easily buy and sell STN token on LBank Exchange by then. The listing of STN on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.
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About LBank Exchange
LBank Exchange, founded in 2015, is an innovative global trading platform for various crypto assets. LBank Exchange provides its users with safe crypto trading, specialized financial derivatives, and professional asset management services. It has become one of the most popular and trusted crypto trading platforms with over 6.4 million users from now more than 210 regions around the world.
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