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ToggleIn the context of the rapidly developing blockchain landscape with the rise of DeFi, Non-Fungible Token, and Web3 applications, Blockchain-as-a-Service (BaaS) platforms are gradually adapting to new infrastructure to keep up with trends. Stratis (STRAX) is one of the long-standing BaaS platforms that has officially transformed into the StratisEVM ecosystem, compatible with Ethereum to get ahead of the new decentralized application wave. What makes this project special? Let's explore with Allinstation through the article below!
What is the Stratis (STRAT) Project?
Stratis is a Blockchain-as-a-Service (BaaS) platform that allows businesses to build custom blockchain applications without the need to operate complex infrastructure. Initially, Stratis was developed with proprietary technology on a platform using the C# language and Microsoft .NET.
However, in 2024, Stratis made a significant leap: moving its entire ecosystem to StratisEVM, a new blockchain compatible with Ethereum Virtual Machine (EVM), opening a new era for development and expansion.
How Does Stratis (STRAT) Work?
StratisEVM maintains the BaaS orientation of the old Stratis but leverages the capabilities of the EVM network:
- Businesses can create custom blockchains, DApps, or smart contracts directly on StratisEVM.
- Users can stake, interact with DeFi/Non-Fungible Token like on Ethereum.
- The entire protocol is integrated with an InterFlux Bridge for cross-chain interaction.
EVM compatibility allows developers to easily utilize tools like Metamask, Hardhat, Remix, while opening up access to the vast Ethereum ecosystem.
Stratis (STRAT) Products
After moving to the Ethereum-compatible StratisEVM ecosystem, Stratis has expanded its product and tool suite to suit Web3, DeFi, Non-Fungible Token, and enterprise trends. Below are the main and core products that Stratis is providing:
StratisEVM – EVM Compatible Blockchain
This is the new blockchain network built by Stratis, fully supporting Ethereum Virtual Machine (EVM). It allows:
- Development and deployment of smart contracts using Solidity.
- Compatibility with development tools like Remix, Hardhat, Truffle.
- Easy integration with MetaMask wallet and DeFi applications.
With a Proof of Stake mechanism and low transaction fees, StratisEVM provides a more efficient and developer-friendly environment for decentralized application development.
Stratis Smart Contracts (Solidity-based)
From its previous C# platform, Stratis now fully supports writing smart contracts using Solidity, similar to Ethereum. This feature:
- Increases accessibility for Web3 developers.
- Supports initialization of DApps, Non-Fungible Token, ERC-20/721/1155 tokens.
- Easily reuses and deploys popular DeFi contracts from Ethereum.
Stratis NFT Marketplace (Planned)
Stratis is developing an Non-Fungible Token marketplace that operates directly on StratisEVM:
- Allows users to create, buy, sell, and auction Non-Fungible Token with low transaction fees.
- Supports ERC-721, ERC-1155 standards and custom metadata.
- Integrates MetaMask and STRAX EVM wallet.
This marketplace aims to attract artists, gamers, and GameFi projects into the Stratis ecosystem.
Stratis Identity
Stratis Identity is a decentralized identity verification (DID) solution operating on blockchain, designed for:
- Businesses
- Governments
- Healthcare, educational, and financial organizations
Users can control their personal identification data without intermediaries, enhancing privacy and security.
Other Highlighted Products of Stratis
- STRAX Wallets: Updated STRAX wallets after transitioning to StratisEVM include STRAX Wallet (Web/EVM), STRAX Wallet Extension, and Legacy Wallet
- InterFlux Bridge – Cross-Chain Bridge: An asset bridge developed by Stratis to connect StratisEVM with other blockchains
- Blockchain Deployment Kits (BDK): Blockchain deployment toolkit for enterprises
- ICO/STO Launch Platform: Allows projects to initiate ICO or Security Token Offering on StratisEVM.
- Stratis Oracle (expected launch): Oracle service developed by Stratis, allowing Off-Chain data such as prices, weather, economic indicators to be integrated into smart contracts on StratisEVM.
Project Highlights
- EVM Compatibility: Allows integration with the entire Ethereum ecosystem.
- High Performance: Low cost, faster processing time than Ethereum Layer 1.
- Cross-Chain Bridge: InterFlux enables flexible communication with multiple blockchain networks.
- Enterprise Support: Maintains BaaS spirit, suitable for organizational and government clients.
- Easy Development: Supports familiar tools like Remix, Truffle, Metamask.
Basic Information about STRAT Token and Tokenomics
Basic Information
- Token Name: Stratis
- Ticker: STRAT
- Blockchain: StratisEVM (EVM-compatible)
- Consensus Mechanism: Proof of Stake (PoS)
- Total Supply: 1,931,748,015 STRAX
- Circulating Supply: 1,931,753,862 STRAX
Token Distribution
Swap from Old STRAX to New STRAX: All old STRAX tokens (on the old blockchain) will be exchanged for new STRAX tokens
Applications of STRAX Token
- Pay transaction fees and deploy smart contracts on StratisEVM.
- Staking to receive rewards from the network.
- Payment for BaaS services, sidechain, and NFT/DeFi products.
Roadmap 2024 – 2025
- Complete StratisEVM mainnet deployment.
- Release new STRAX token and open token swap program.
- Launch first NFT marketplace and DeFi DApp on StratisEVM.
- Expand InterFlux Bridge to support more chains (zkSync, Base, Arbitrum).
- Deploy enterprise toolkits such as Oracle, Off-Chain data storage, and integration API.
Project Team, Investors, and Partners
Project Team
Stratis is led by a team experienced in enterprise software development, blockchain, and distributed financial systems.
- Chris Trew – Founder & CEO: Founder and soul of the Stratis project since 2016, Chris has over 10 years of experience in enterprise software development using C# and .NET. He strongly drives the transition to StratisEVM.
- Dan Gershony – CTO (Chief Technical Officer): Lead developer of Stratis Full Node (C#) and original Stratis architecture. Dan plays a crucial role in building the technical platform and InterFlux bridge.
- Nicolas Dorier: An influential programmer in the Bitcoin community, Nicolas developed the NBitcoin library – the backbone for many technical components of Stratis. He currently advises on security architecture and consensus.
- Jean-Pierre Buntinx – Content Lead & Communications: Responsible for global content and communications for Stratis.
Investors
Initial Coin Offering in 2016
Stratis successfully raised ~600 BTC in its ICO, equivalent to about $600,000 at the time. This capital was the foundation for developing the initial ecosystem and building the community.
1/2/2021 – Undisclosed Round
Stratis completed an undisclosed funding round with the participation of Alphabit Digital Currency Fund – a fund specializing in digital assets and blockchain infrastructure. Although the raised capital was not disclosed, the support from Alphabit indicates Stratis's long-term development potential, especially in preparation for the StratisEVM ecosystem launch.
Partners
Stratis has built a diverse partner network in both Web3 and traditional business sectors:
- Microsoft Azure: Stratis was one of the rare blockchain projects officially integrated into Azure Marketplace, allowing businesses to deploy Stratis blockchain nodes with just a few clicks.
- MEDSi & MediConnect: Two healthcare companies using Stratis technology to store medical records, track pharmaceutical supply chains, and verify medical data.
Summary
Stratis (STRAX) is showing a strategic shift by transitioning its entire ecosystem to StratisEVM. This infrastructure change not only helps Stratis catch up with technological trends but also opens up strong development opportunities in areas like DeFi, NFT, GameFi, and enterprise applications. With an experienced team, complete BaaS product, and support from major partners, Stratis is gradually reaffirming its position as one of the most business and developer-friendly blockchain platforms.
Please note this is not investment advice.
