Latest news with #STAS
Coin Geek
26-05-2025
- Business
- Coin Geek
How firms put Bitcoin 'sats' to work as versatile digital tokens
Getting your Trinity Audio player ready... Blockchain digital tokens don't care about the current Bitcoin price. Tokens can represent anything you like, recorded permanently and immutably on a legally verifiable digital ledger. On the BSV blockchain, tokens are cheap to create and exchange, fast and efficient to use, and (like BSV itself) have an unbounded ability to scale. The STAS token protocol has seen increased adoption in 2025 following its switch to an MIT License, making it permissionless and free to implement. We spoke to some of the projects using STAS about why they made that choice and why they saw it as a preferable option. What is STAS? Today, STAS is used to manage asset twins, stablecoins, wallets, NFTs, creative works, online posts, and more. Several projects have used the STAS token protocol since it first became available about five years ago, and most of them have published detailed descriptions of why they made that choice on their websites. The list includes (among others) SLictionary, DXS, Relysia, Centi, GAP600, and Tokkeni. STAS stands for 'Substantiated Tokens from Actualized Satoshis.' The name is also a hat-tip to Stas Trock, the Bitcoin Script engineer who wrote the original smart contract code. Like 1Sat Ordinals, STAS tokens use Bitcoin's atomic unit (a single satoshi/'sat' or 1/100,000,000 Bitcoin) to record token data. Though STAS pre-dated 1Sat Ordinals by a few years, it wasn't as widely used due to a proprietary protocol which had to be licensed for use by its owner, TAAL. That changed with the change to a free MIT License, and the WhatsOnChain block explorer shows the transaction share between the two token protocols is evening out. There are different kinds of STAS tokens for various purposes. STAS-20 is suitable for 'custom tokens' like stablecoins, utility and security tokens and comes with a redemption function that 'burns' the token and returns the un-tokenized 'sat.' STAS-50 allows transactions with up to 50 outputs, far more than usual. It is ideal for data management tasks (it can send data to large numbers of recipients in a single transaction), e.g., royalty distribution. STAS-789 can be used for different types of tokens, such as those used in supply chains and logistics, and can append additional data records to create a secure on-chain database. The inevitable STAS/1Sat Ordinals comparison This article doesn't intend to spark a STAS vs 1Sat Ordinals debate, nor is it an endorsement of one protocol over another—whether one is 'better' depends on a project's needs. However, the question of similarities (and differences) between these two inevitably arises simply by mentioning either of them, especially now, given that they're the two most prominent token protocols running on the BSV network. As mentioned above, both use a single 'sat' as a base, meaning both are considered 'Layer 1' tokens. They're recorded on the main blockchain, not a separate 'sidechain' or settlement network. Both can be used for fungible and non-fungible tokens (FTs/NFTs) and token series, and these tokens can all have digital values/functionality or serve as a digital representation of something in the physical world. STAS and 1Sat Ordinals tokens can be NFTs, stablecoins, game tokens, security or utility tokens, loyalty points, concert tickets, discount coupons, logistics trackers, etc. Both can represent real estate ownership, businesses, contracts, or individual identities. The key difference between the two, and the one most project manager reference, is how the token's metadata is recorded. On 1Sat Ordinals, metadata describing the token (and recording ownership) is 'inscribed' in a satoshi's output script, using that satoshi as a unique serial number. This relies on origin-based indexing to keep track of each token—if a 1Sat Ordinals token is sent to a wallet that doesn't support the protocol, the token data is lost unless that satoshi can be isolated again, somehow. STAS tokens are smart contract-based and include metadata written directly onto a satoshi's UTXO (unspent transaction output), meaning it won't be lost even if a wallet doesn't recognize it. This is called 'origin-based indexing.' While this makes the metadata more robust, it also means slightly larger transactions and potentially higher transaction costs in the long run. You can read a more detailed STAS transaction size/cost analysis and code optimization here. STAS also has stricter rules enforcing that each output is of the same script type, whereas 1Sat Ordinals can be combined with any kind of script (you could even have STAS-style script enforcement on 1Sat Ordinals if you wish). 1Sat Ordinals are designed to be simple, ultra-low-cost, and as flexible as possible, letting developers be more creative with use cases and compatibility. The STAS protocol is more strict with how a token can be used and can be more complicated to implement. Both protocols can be considered 'permissionless' and are available for anyone to use without a fee. 1Sat Ordinals are FOSS (fully free and open source), and STAS operates under an MIT License. All the above differences are issues for developers rather than end users. Which should you choose for your next project? Both are great and work well, so it depends on what you want your tokens to do. Vaionex: permanent token metadata is the biggest advantage Vaionex, which is behind the Relysia digital wallet, has long been a vocal supporter of STAS and the concept of BSV 'native' tokens. As part of its blockchain-as-a-service (BaaS) model, it also provides APIs, STAS token templates for different purposes, and other tools that other businesses can use to keep track of their tokens. STAS is 'a game-changer,' and its tokens are 'smart contracts living and breathing on the blockchain,' the company said. 'Whether you're looking at creating fungible tokens, unique NFTs, or appendable data tokens, Relysia has got you covered,' Vaionex wrote in a blog post. 'The flexibility doesn't end at creation; each token or NFT can be further customized with metadata, ensuring that every digital asset is as unique as the vision behind it.' STAS metadata is written permanently on every token, creating 'perpetual, invaluable context,' meaning that 'every transaction, trade, or transfer carries with it a complete story of the token'. The big advantage is that there's no need to rely on any service to retrieve the token data. Our article on Vaionex from two years ago identified the necessity to obtain a license and the size of STAS transactions as potential hurdles to adoption. That licensing issue no longer exists, and we should note that none of the people we spoke to for this 2025 update saw STAS transaction sizes as a hindrance. DXS: tokenizing and trading all the assets 'The argument for sat-based protocols is there in the (Bitcoin) white paper,' said DXS CEO Armen Azatyan. 'Bitcoin is a digital cash system, which means it's also a token system.' There are 21 million bitcoins, which means 21 million x 100 million sats that can be assigned to an arbitrary physical or digital asset. When DXS launched five years ago, STAS was the only base-layer token protocol available on BSV, and its UTXO-embedded token metadata plays a vital role in helping DXS 'stay geniuinely P2P.' STAS tokens are recognized by the BSV mining network itself, without the aid of external databases. If other tokens are sent to a non-token address by mistake, the token can get 'burned' in the process. 'That's the very issue STAS solves. It has a special script that actually transforms the satoshi into a specific token. You can't transact this token unless it is a token transaction – miners will not validate the transaction unless it is a properly constructed and recognizable UTXO,' Azatyan said. 'All the information you need to validate (the token's history) 'back-to-Genesis' is present on-chain.' DXS uses Bitails and JungleBus for indexing and has built its own STAS indexer that prunes network data. Based on this pruned information, the indexer can follow the back-to-Genesis data chain even more efficiently. Some kind of indexer is always necessary if a service wants to perform fast- or zero-confirmation transactions, but having no need for a separate token database is still a big plus. Azatyan acknowledged there are some people who worry about peculiarities when handling STAS, e.g., there's a limited number of UTXOs and inputs, or you have to split and merge tokens, or they can't handle multisig (this issue is currently being solved). DXS's indexer performed well on this task. 'We're happy to share our indexer, we're happy to provide API access and share the source code, with anybody who wants to smoothly handle STAS transactions. Don't worry about any merging/splitting hassle.' SLictionary: tokens create a connection between creators and their work SLictionary CEO Jack Pitts said his company 'chose to use STAS because our customers wanted their hand-crafted word definitions, which we classify cash-earning information-art, to be controlled by them, and tradable.' 'We call our customers' works of art SINCs (Signatured INformation Coins, or Signatured Information NFT-like Coins) in general, but 'SLicDefs' in particular. They are etchings of information-on-coin, rather than information-on-chain, and they give owners the right to traffic-generated cash income streams on our SLictionary dictionary platform.' 'How can you tell Da Vinci's Mona Lisa from a perfect fake? The answer is non-trivial; it's actually VERY hard and an auction house like Sotheby's offers high-fee services to their art-collecting customers to determine such things. But this service will be FAR easier and FAR cheaper on Bitcoin using a STAS protocol – even without nerdy Zero-Knowledge Proofs! You see, a SLicDef could verify its timestamp on the Bitcoin blockchain by simply providing its Merkel Branch proof. Then when comparing an original definition 'artwork' (what SLictionary calls a SLicDef – a tradeable definition) to a fake, the easy way to prove the original is to just compare timestamps,' Pitts said. He added that issues with licensing and the former mAPI system had hindered SLictionary's more widespread use of the STAS protocol, saying it took some lobbying on his company's part to achieve better interaction between STAS and the (Bitcoin SV Node) software. STAS itself was quite simple. 'A startup with enough capital and the existence of GorillaPool's excellent customer service would make what we did simple, fast, and easy to implement. Now the STAS protocol is open-sourced, as I understand it, making choosing STAS tokens economically an easy decision also,' Pitts said. 'Overall, I'd say SLictionary uses STAS protocol because it's the best out there, and it was easier than constructing them ourselves (which was the original plan). I guess we still might do that, but any 'new and improved' SINCs for SLictionary or its sister products would build on top of what the STAS protocol already created.' Centi: Swiss Franc stablecoin and wallet Currently, the only stablecoin running on STAS is Centi's CHFF —a Swiss Franc token available in the company's native Switzerland. However, Centi also uses STAS for several other wallet-related functions. 'STAS offers libraries and an SDK,' said Centi General Manager Bernhard Müller. 'However, we have worked very closely with industry partners to get all the functionalities we do with STAS-20 – which is: issue, redeem, send, receive, multi-send, scan private keys for tokens and sweep them, allow invoicing and invoice settlement, ticketing, vouchers, promotional currencies and of course our stablecoin the Centi Franc.' As an electronic payments service and stablecoin issuer, Centi must ensure all transactions are secure and comply with regulatory requirements. The company considers zero-risk of counterfeiting, fully digital accounting, and regulatory compliance very carefully with every technology choice it makes. It then compares its choice to any other electronic means of payment widely accepted today. BSV and STAS tokens (which are essentially BSV activated through a smart contract) can be technically and legally used as electronic cash, so long as any tokens issued are themselves legal. 'In essence, it is the nature of the STAS token which is so close to the nature of the BSV (units)themselves. The simplicity, and control over it only by miners, and no other oracles or other services. It allows for non-discretion transactions.' Tokkeni: tokens for 'gamifying' business activities The business-oriented Tokkeni platform uses STAS tokens for loyalty programs, consumer rewards, and competitions. Founder and CTO Razvan Petre said when Tokkeni first launched two and a half years ago, STAS 'was the only option that made sense'. Relysia's 'Blockchain-as-a-Service' (BaaS) solution and APIs helped with the decision. 'On our side we stayed blockchain agnostic; we are interacting with a REST API from Relysia. This simplification allowed us to focus on developing business use cases and stay away from the blockchain specifics,' Petre said. 'Right now, we've reached a point where Tokkeni has matured, and the app is functional and works quite nicely. We are looking for businesses that want to try our solution, as well as that we are keen to talk to possible investors.' Once again, whether developers choose STAS or another token protocol will depend on their specific conditions and use-case goals. For some, requiring an external token-tracking database is an issue, and for others it's not a big deal. The important thing is that BSV offers multiple great choices for token protocols, and all can handle massive transaction volumes on its unboundedly scaling blockchain network. Watch: GAP600 stablecoin is coming, and it's built on STAS token protocol title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Coin Geek
14-05-2025
- Business
- Coin Geek
DXS: BSV's 'plumbing' still the best base layer for any asset
Getting your Trinity Audio player ready... Stablecoins play a key role in the blockchain industry's overall infrastructure. Onboarding more of them to a platform is essential for developers who want to get more non-BSV people into the app. DXS CEO Armen Azatyan spoke to CoinGeek recently about reaching new traders beyond the BSV ecosystem and who DXS would like to onboard next. DXS has been one of the BSV ecosystem's quiet achievers. Launched in 2020, it's been writing thousands of transactions to the blockchain per day ever since. It's a trading platform similar to Robinhood in that it provides simple and user-friendly access to multiple markets for everyone, complete with leverage options, liquidity pools, and minimum trades as low as one cent. Unlike Robinhood, its operations are transparent, and users retain custody of idle funds. BSV's scalable blockchain provides cheap, instant, and transparent settlements, and assets are tokenized using BSV's STAS protocol. The platform connects to users' external wallets, thus avoiding the security risk of hosting funded wallets/accounts. DXS is also the first BSV app to integrate non-BSV wallets through an on-chain wrapping mechanism, seamlessly onboarding users from other blockchains to use BSV without even them noticing it (in essence, using BSV as plumbing for peer-to-peer transactions). In addition to BSV wallets HandCash and DotWallet, it also links to MetaMask, Trust Wallet, Fiorin, and Wallet Connect. Coming soon are TON's Telegram Wallet and Tonkeeper Wallet, which means DXS will also likely get listed on Telegram's mini-app store. After that, the developers are working on onboarding Solana wallets and integrating the 1Sat Ordinals protocol. 'We want to have hassle-free deposits and withdrawals,' Azatyan said. DXS's EVM integration (MetaMask and Trust Wallet) works just fine, but as an Ethereum wallet, Layer 2 or not, it comes with all that network's shortcomings, like being slow or expensive to use. Stablecoins is still the killer app on blockchain Azatyan said having a stablecoin for DXS users was always a deal breaker right from the beginning, and having a BSV-native USD stablecoin was a dream. Fortunately, now that there is a stablecoin (MNEE) running on the BSV blockchain, 'it will be miles simpler to implement that,' which DXS is now doing. 'It's the only way to attract a wider audience of traders who don't want constant exposure to BSV price volatility,' he added. While BSV is the best network to handle the exchange's functionality, it's better that it remains in the background as 'plumbing' rather than being a speculative asset itself. DXS is a prime example of how a business can use the BSV network as infrastructure and succeed, independent of the BSV coin's own market price and with users who may never have owned any Bitcoin. Until recently, about 90% of DXS's trading volumes came from users connected with BSV wallets. However, that number is dropping as BSV's market price has fallen or remained stagnant over recent years, and diversifying beyond its BSV-centric user base has always been part of DXS's plans. 'You need that to grow as an independent business,' Azatyan said. If a business targets only BSV holders, then its fortunes are permanently tied to those of the BSV market price. The same applies to businesses targeting only holders of a specific digital asset. DXS's development team has spent a few years onboarding stablecoins from other blockchains and has had to build a lot of its own infrastructure to accept USDT and USDC. In addition to MNEE, DXS is looking at Centi's CCHF (Swiss Franc) stablecoin, although that particular token is more merchant-focused, so it may not be a high-priority market to chase. For now, users can fund their positions on the exchange with BSV, USDC, USDT, DAI, wBTC, or ETH. And speaking of BSV being more open to those outside its sphere, Azatyan said he'd even love to see Tether running natively on BSV someday. Tether's image and governance issues over the years have made that kind of wish almost heretical in the BSV world, with its public commitment to compliance and transparency. But it currently runs natively on about two dozen different blockchains, and Azatyan said it's become like 'a stamp of approval for any blockchain' to have its own USDT token. It retains its first-mover advantage, and every year it adds to its lifespan, adds more liquidity, and cements its position in the market. That's something beyond DXS's control, but being able to handle whatever asset its users want to use most remains the company's mission. For BSV itself, simply being the best available infrastructure for apps like DXS and others may be its most valuable asset. Watch: Teranode is the digital backbone of Bitcoin title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
