Question 1

What is STRAX?

Accepted Answer

STRAX is the native token used by Stratis during the STRAX blockchain phase, for platform services and network activity in that phase; it is not company equity and does not represent ownership of company revenue. When understanding STRAX, it is also important to note the asset's historical phase, because Stratis later separately announced a swap arrangement for STRAT II.

Question 2

What is STRAX used for?

Accepted Answer

During the STRAX chain phase, STRAX could be used to purchase or operate certain Stratis services and to obtain sidechain tokens for executing smart contracts. Smart contracts are applications that execute conditions on-chain according to predefined programs; therefore, whether the token can be used for a particular operation depends on whether that service or sidechain accepts STRAX, rather than on merely holding the token.

Question 3

How is STRAX related to masternodes?

Accepted Answer

The early STRAX design allowed users to operate masternodes with STRAX as collateral. Masternodes are a class of nodes that provide services to the network and participate in block production: operators first had to meet the collateral requirement, then continuously maintain the hardware and node service. These conditions form part of the participation mechanism and do not constitute a fixed-return or risk-free promise. This description applies to the early STRAX chain phase and should not be directly applied to later assets or clients.

Question 4

How was STRAX issued at that time?

Accepted Answer

The supply design during the STRAX chain phase was based on the original STRAT supply, with an additional 25 million STRAX reserved for the foundation for planned use over five years. This reserve was an allocation for the foundation to use according to plan, rather than rewards automatically created by the network in each block; it describes the allocation and use arrangements in the token design at that time.

Question 5

What is the relationship between STRAX and STRAT II?

Accepted Answer

Terms announced by Stratis in 2024 arranged for STRAX to be swapped for STRAT II at 1 STRAX to 10 STRAT II, with the swap period listed in the terms ending on December 29, 2024. This ratio describes the quantity relationship between the old and new assets in the specified swap arrangement; it does not mean they can be automatically exchanged across all wallets, networks, or services. Before handling historical assets, confirm the asset version and type currently supported by the wallet, network, and service provider.

Question 6

How is StratisEVM related to network validation?

Accepted Answer

The open-source StratisEVM project provides code and documentation for running Stratis nodes and optional validator clients. Validators are nodes that participate in proof-of-stake network consensus; operators need to deploy, maintain, and meet the applicable participation conditions under that network's rules. This belongs to a different phase or implementation context from the early STRAX masternode description, so identical collateral, reward, or risk conditions should not be inferred.

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