Scientia (SCIE) Cryptocurrency Market Data and Information

What is Scientia (SCIE)?

Scientia (SCIE) is a cryptocurrency project launched on the Binance Smart Chain in October 2021 with the ambitious goal of revolutionizing science funding. Unlike traditional funding models that are often bureaucratic, slow, and controlled by governments or large corporations, Scientia aims to establish a community-owned trust to support basic research in academia and new research-oriented companies. This trust, owned by the Scientia community, will not only fund research but also participate in the funded projects through returns, creating a sustainable ecosystem for scientific advancement.

The core principle behind Scientia is to democratize science funding, empowering the community to play a direct role in shaping the future of research. The project recognizes the limitations of existing funding structures and seeks to provide an alternative model that is more agile, transparent, and aligned with the needs of the scientific community. While the establishment of the Scientia Trust is a long-term objective, the Scientia token itself is designed to benefit both science and the Scientia community. The project emphasizes that SCIE is not an investment product, but a tool to support the overall vision of the project.

Scientia encourages potential participants to thoroughly research the project’s goals, current developments, and understand its mission before acquiring the token. The project aims to foster a community of like-minded individuals who are passionate about supporting scientific research and contributing to a more open and accessible funding landscape. The project is very upfront that the goal is not to encourage trading, but rather to support the underlying mission.

How Does Scientia (SCIE) Work?

Scientia operates through a unique transactional mechanism designed to fund its ambitious goals. A key component of this mechanism is a transaction tax of 9.42% applied to all SCIE token transactions. This tax is strategically allocated to support various aspects of the project’s ecosystem and long-term sustainability. The transaction tax is split into three key areas: liquidity, funding of science, and marketing/development.

A portion of the transaction tax, 3.14%, is directly added to the liquidity pool. This increases liquidity for the token, and helps to ensure smoother trading for all parties involved with SCIE. 2.09% goes towards science funding. The use of this fund is determined by the SCIENTIA community, through direct funding of projects, or using other agencies. The next 2.09% of the tax goes towards token buyback. This is a return to the holders of SCIE, which is intended to build community over time. The final 2.09% is used for development and marketing to support the project further, this can also be used to compensate the developers.

Initially, Scientia operated as an elastic supply token, but this feature was discontinued in early 2022 following a decision made by the community. The current token model focuses on the transaction tax mechanism to drive funding and incentivize community participation. By leveraging blockchain technology and community-driven decision-making, Scientia aims to create a sustainable and transparent funding model for scientific research. The project prioritizes community involvement and emphasizes that it is not intended for speculative trading.

Scientia (SCIE) Key Features and Technology

Scientia’s key features revolve around its commitment to democratizing science funding through its innovative tokenomics and community-driven approach. The 9.42% transaction tax is a core feature, strategically allocating resources to liquidity, science funding, buybacks, and development/marketing. This tax mechanism ensures the long-term sustainability of the project and its ability to support scientific research initiatives.

Another key feature is the community governance aspect. The Scientia community plays a vital role in deciding how the science funding budget is allocated. This participatory approach ensures that funding decisions are aligned with the community’s priorities and the needs of the scientific community. The project actively encourages community involvement through platforms like Telegram and Medium, where members can stay informed about project developments and contribute to discussions.

Scientia leverages the Binance Smart Chain (BSC) for its operations. BSC provides a robust and efficient infrastructure for the token, offering faster transaction times and lower fees compared to other blockchain networks. This choice of blockchain enhances the accessibility and usability of the Scientia token for community members and researchers alike. The BSC also provides increased smart contract functionality.

What is Scientia (SCIE) used for?

The primary purpose of Scientia (SCIE) is to facilitate the funding of scientific research through a decentralized and community-driven approach. The SCIE token serves as a mechanism to generate funding for research projects and to incentivize community participation in the funding process. The long-term goal is to establish a community-owned trust that will directly support basic research in academia and new research-oriented companies.

Beyond its funding role, the SCIE token aims to foster a community of individuals passionate about science and its advancement. Token holders are encouraged to participate in discussions, contribute to decision-making processes, and support the project’s mission of democratizing science funding. The community involvement is meant to foster a common mission that can be advanced by the members. It is also meant to spread information about the project to new supporters.

Scientia also aims to provide a platform for researchers and scientists to access alternative funding sources and connect with a supportive community. By creating a more open and accessible funding landscape, Scientia hopes to encourage innovation and accelerate the pace of scientific discovery. The funding aspect of the SCIE project has a goal of creating something new in the world of science.

How Do You Buy Scientia (SCIE)?

Purchasing Scientia (SCIE) involves several steps that are typical of buying cryptocurrencies on decentralized exchanges (DEXs). Since SCIE is built on the Binance Smart Chain (BSC), you’ll need a wallet compatible with BSC, such as MetaMask or Trust Wallet. These wallets allow you to interact with decentralized applications (dApps) and store your SCIE tokens.

First, you’ll need to acquire Binance Coin (BNB), which is the native cryptocurrency of the Binance Smart Chain. You can purchase BNB on centralized exchanges like Binance or Coinbase and then transfer it to your BSC-compatible wallet. Alternatively, some wallets allow you to purchase BNB directly within the app.

Once you have BNB in your wallet, you can use a decentralized exchange like PancakeSwap to swap BNB for SCIE. PancakeSwap is a popular DEX on BSC that allows you to trade various tokens. To trade on PancakeSwap, connect your wallet to the platform, select BNB as the input token and SCIE as the output token, and specify the amount of BNB you want to swap. Be sure to check the slippage tolerance and gas fees before confirming the transaction. Once the transaction is confirmed on the blockchain, the SCIE tokens will be deposited into your wallet. Remember to research current exchanges to ensure you are using a reputable and secure platform to acquire SCIE. Always exercise caution and be aware of the risks associated with trading cryptocurrencies on decentralized exchanges.

How Do You Store Scientia (SCIE)?

Storing Scientia (SCIE) securely requires a wallet that is compatible with the Binance Smart Chain (BSC), as SCIE is built on this blockchain. There are primarily two types of wallets you can use: software (hot) wallets and hardware (cold) wallets. Each offers different levels of security and convenience.

Software wallets are applications that can be installed on your computer or smartphone. Popular software wallets for storing SCIE include MetaMask and Trust Wallet. MetaMask is a browser extension and mobile app that allows you to interact with decentralized applications (dApps) and manage your BSC-based tokens. Trust Wallet is a mobile-only wallet that offers similar functionality and is known for its user-friendly interface. Software wallets are convenient for everyday use but are generally considered less secure than hardware wallets, as they are vulnerable to hacking and malware attacks.

Hardware wallets, such as Ledger and Trezor, are physical devices that store your private keys offline. This makes them much more resistant to hacking and malware. To use a hardware wallet with SCIE, you’ll need to connect it to a BSC-compatible wallet like MetaMask or Trust Wallet. This allows you to interact with dApps and manage your SCIE tokens while keeping your private keys secure on the hardware device. Hardware wallets are the most secure option for storing cryptocurrencies, especially if you hold a significant amount of SCIE.

Future Outlook and Analysis for Scientia (SCIE)

The future outlook for Scientia (SCIE) hinges on its ability to successfully execute its ambitious goal of revolutionizing science funding. The project’s success will depend on several factors, including its ability to attract a strong and engaged community, secure partnerships with research institutions and companies, and effectively manage its funding mechanisms.

One of the key challenges for Scientia will be building trust and credibility within the scientific community. Researchers and institutions may be hesitant to rely on a cryptocurrency-based funding model, particularly given the volatility and uncertainty associated with the crypto market. To overcome this challenge, Scientia will need to demonstrate its commitment to transparency, accountability, and sound financial management. The community and founders of SCIE have been working to address these challenges.

Another factor to consider is the regulatory landscape. Cryptocurrency regulations are constantly evolving, and it is uncertain how these regulations will impact projects like Scientia in the future. The project will need to stay informed about regulatory developments and adapt its operations accordingly. In summary, the future of Scientia is uncertain, but the project’s innovative approach to science funding and its strong community focus offer potential for long-term success. However, it is important to carefully consider the risks and challenges before investing in SCIE.

References

• CoinGecko: https://www.coingecko.com
• CoinDesk: https://www.coindesk.com
• Scientia Telegram: https://t.me/scientiacommunity