Steelcoin (STEEL): overview 

Key facts about Steelcoin (STEEL):

• Steelcoin is a security in the form of ERC20 security tokens on the Ethereum blockchain.

• Steelcoin is the first security token on Bitpanda, and the first of a new asset class.

• Steelcoin is linked to the price performance of specific steel products, providing investors with a regulated digital asset that allows participation in the steel market.

• Steelcoin was launched in Austria in 2022 in accordance with the EU Prospectus Regulation.

• Steelcoin cooperates closely with the European steel trading group Frankstahl.

• Steelcoin was developed by the team around Frankstahl owner Marcel Javor.

What is Steelcoin?

Steelcoin is the first security token to bring steel to the Ethereum blockchain. As a regulated, transferable security under the EU Prospectus Regulation, Steelcoin is linked to the value of specific steel products, offering investors an opportunity to participate in the performance of steel prices. Essential for industry, economy and society, steel shapes our world from transportation to construction; infrastructure to machines – steel is everywhere and can be anything. Steelcoin was developed in Austria and closely cooperates with the steel trading group Frankstahl.

What is the purpose of the Steelcoin token?

Steelcoin is offering investors a unique opportunity to participate in the price performance of specific steel products.

What are the main features of Steelcoin?

Steelcoin is an ERC-20 security token built on the Ethereum blockchain and managed through the smart contract 0x6d4E7931944dc1a78256570A073d410A71cc312F. It offers investors an opportunity to participate in a new asset class by investing in regulated security tokens linked to the price of specific steel products. Furthermore Steelcoin created its own platform – steelcoin.com, offering unique features to users.

What is the Steelcoin platform?

The Steelcoin platform merges the world of steel with the world of investing. It was built to facilitate the initial emission of Steelcoin token. On the Steelcoin platform only, registered users can buy and redeem Steelcoin tokens for certain steel products or cash. Additionally users can transfer Steelcoin tokens to an ERC-20 compatible wallet of their choice. These features are not applicable to anyone who acquires Steelcoin on the Bitpanda platform.

What makes Steelcoin different from its competitors?

Behind Steelcoin lies a real world value - the value of steel, one of the most important materials for industries that contribute to shaping the world. 

Technical specifications 

On which blockchain does Steelcoin run?

Steelcoin runs as an ERC-20 Security Token on the Ethereum Blockchain.

How does the pricing of Steelcoin work?

Steelcoin references the price of steel through the Finished Steel Value (FSV). The FSV reflects the average purchase price of selected physically deposited steel products. This allows investors to use the FSV to track the average price development of these specific steel products.

Tokenomics & Vesting

What are the Steelcoin Tokenomics?

The tokenomics of Steelcoin are quite unique in the blockchain world. Unlike tokens that rely on a supply and demand function with a pre-defined issuance schedule, Steelcoin tokens are anchored to the real value of underlying steel products. The fully-diluted market capitalisation, according to the current prospectus, is approximately €100 million, with a total supply of 18,000 tokens. As of 1 October 2024, this corresponds to approximately 31,000 tonnes of steel. The amount of steel goods represented by each Steelcoin decreases by 3% annually, meaning  that over time the steel amount per Steelcoin will continuously decline. Further information on the current status and the weight reduction schedule can be found in the Steelcoin Capital Market Prospectus (Annex 3)

There is no vesting mechanism; Steelcoin is always tradable against the issuing entity. While tokens are burned upon redemption, they can be re-issued if there is investor demand. This ensures continuous liquidity and flexibility for investors.

Steelcoin offers extraordinary utility, allowing everyone to invest in steel via a regulated security token. 

What is the max supply?

A maximum of 18,000 tokens will be issued under the current prospectus. 

What was the initial token distribution?

Under the first prospectus 18,000 tokens are offered to any eligible investor. The first step was to offer those tokens via steelcoin.com. Furthermore Steelcoin will be available to an even broader public through Bitpanda under a newly created category of assets – Security Tokens.

Roadmap: a short overview of the project’s major milestones.

• Q1/2022 Start of Steelcoin and Steelcoin Platform Development

• Q4/2022 Launch of Steelcoin on Steelcoin.com on 27th of September 2022

• Q3/2023 Launch of Steelcoin ETP (Exchange Traded Product) on Boerse Stuttgart

• Q4/2024 Launch of Steelcoin on Bitpanda on 10th of October 2024 as the first security token on an European platform

Are there any partnerships with Steelcoin?

Steelcoin closely collaborates with Frankstahl, one of the largest independent steel trading companies in Austria – and one of the most innovative in Europe. The steel trading group operates over 16 locations in ten European countries, employs over 700 people, and maintains more than 100,000 tonnes of steel in their warehouses at all times. Frankstahl was founded in Vienna in 1880 and today, with over 600 million euros in revenue, is considered one of the strongest steel trading companies in the region.