The Gibraltar Blockchain Exchange announced it will be officially moving from the ROCK (RKT) token, used to raise funds during its ICO at the beginning of the year, and will transition to the STACS token.
The STACS token is the GSX Group’s new utility token. STACS has the same utility aspects as RKT, therefore, sponsor fees, listing fees, and trading fees will be paid in STACS token and all of the current membership aspects of RKT will be enjoyed by STACS holders in exactly the same way.
GBX’s new technology subsidiary, Hashstacs Inc, developed the STACS protocol, which will help create a venue where regulated incumbents such as investment banks, exchanges such as GSX and broker-dealers will capitalize on the potential of tokenized securities including STOs by providing issuers with access to a global liquidity pool within a regulated environment. The proprietary technology will encompass the development of the STACS protocol, the integration of the STACS Enterprise Wallet and the implementation of trading platform services.
- RKT ceased to serve in its current form as of Friday, November 23rd. STACS Token (STACS) is the GSX Group’s upgraded ERC-20 token that will replace RKT as the utility token of GBX’s ecosystem.
- On Friday, November 2018 23rd, at the first block after 03:00 UTC, GBX started allocating STACS Tokens on the Ethereum blockchain, GRID and DAX wallets to all RKT holders.
- STACS tokens are being distributed on a 1 to 1 basis, for example, if a holder had 10,000 RKT in their wallet, they will now have 10,000 RKTs AND 10,000 STACS Tokens.
- The official STACS token address is ‘0x286708f069225905194673755F12359e6afF6FE1’
- The GBX team enabled trading of the STACS token once balances were confirmed within 6 hours.