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Bitcoin Standard Hashrate Token (BTCST) price, marketcap, chart, and fundamentals info
Bitcoin Standard Hashrate Token (BTCST) provides liquidity for Bitcoin mining. Each BTCST is collateralized equal to 0.1 TH / s of Bitcoin mining power. By staking BTCST, the holder will receive the daily Bitcoin distribution corresponding to the staked mining power.
BTCST passed the scrutiny of CertiK, one of the world’s leading blockchain security companies, reached 98/100 in a security audit.
Main features of Bitcoin Standard Hashrate Token (BTCST)
Leveraged token (Token leverage)
BTCST guarantees double profits for holders when the market is on the rise. Due to the properties of BTCST is the leveraged token of Bitcoin.
BTCST is collateralized with 0.1 TH / s real-world Bitcoin mining power, which has historically proven to be positively correlated with the performance of digital gold and thus the value of BTCST increases with. with the current skyrocketing Bitcoin market.
On top of that, BTCST producers require daily Bitcoin reward mining. If a user starts to mine Bitcoin using WhatsMiner M21s (a classic hardware model of Bitcoin mining) enter October 2020 , then at the time of publication, the value of Bitcoin mined will increase by 200%. However, the price of the miner itself has increased by 400% in the same time frame.
Therefore, it may be safe to call BTCST the leveraged token of Bitcoin.
Works like Grayscale in the mining industry
2020 is the year of Grayscale and BTCST could tell the story in the Bitcoin mining industry. Institutional liquidity provided by Grayscale has driven the market up, and BTCST will help free up the liquidity for the mining industry and enable liquidity compensation on the secondary market.
By trading BTCST, market participants can:
- Freedom to enter and exit Bitcoin mining of any size, anytime and at low cost.
- Even miners who do not have BTCST-coded mining power can use tokens to profit or hedge the risk of mining machine price fluctuations.
Cloud mining is an imperfect solution for a lack of liquidity and a reputation overshadowed by frequent scams. Legitimate vendors also do not have enough transparency.
BTCST is a cloud mining platform deployed on Binance Smart Chain, with daily payments made by the dApp and all data traceable. Binance Pool, the 2nd largest Bitcoin mining pool in the world, has the function of auditing BTCST and ensuring legality and transparency.
Defi of the future
BTCST is a DeFi project without impermanent loss. When a user n-stake BTCST, the user is protected with a token to get the same amount of BTCST along with the accumulated Bitcoin reward.
BTCST has passed the scrutiny of the CertiKOne of the world’s leading blockchain security companies, achieved 98/100 in security audit.
What is BTCST token?
BTCST is the platform’s native BEP-20 token unility. Holder BTCST is the equivalent of owning basic mining power. Staking BTCST on-chain allows staking users to receive their mining rewards in Bitcoin.
Miners contribute the mining power to the platform in exchange for newly released BTCST.
Basic information about BTCST
|Blockchain||Binance Smart Chain|
|BEP20 Smart contract||BTCST|
|Token Standard||Unility token|
|Total Supply||1,000,000 BTCST|
|Circulation supply||1,000,000 BTCST|
The total supply of BTCST after launch will be determined by the AUM of the mining power BTCST. All BTCSTs other than an initial circulating supply of 1,000,000 BTCSST are subject to a weekly linear vesting schedule of 25 weeks.
Future BTCSTs released to the project team must follow the same vesting schedule.
What exchange is BTCST traded on?
Currently having information only, Binance will be listing BTCST into innovation zone on January 13, 2021 at 01:00 PM (VN time) and opening BTCST / BTC, BTCST / BUSD and BTCST / USDT trading pairs.
You can store BTCST on the Trust Wallet or you can store it on the exchange where you buy it. Remember to turn on full security.
Bitcoin Standard Hashrate Token (BTCST) on Binance Launchpool
- Token Name: Bitcoin Standard Hashrate Token (BTCST)
- Total Token Supply: N / A (Total AUM of BTCST determines total token supply)
- Launchpool token rewards: 40,000 BTCST (4% Initial Circulating Supply)
- Initial Circulating Supply: 1,000,000 BTCST
- Staking Terms: No upper limit, No KYC required
The pools are supported to farm BTCST
- Stake BNB: 24,000 BTCST rewards (60%)
- Stake BUSD: 4,000 BTCST rewards (10%)
- Stake BTC: 12,000 BTCST rewards (30%)
- Farm time: 08/01/2021, 07:00 AM to 07/02/2021, 06:59 AM (Vietnam time)
Daily distribution of BTCST in pools
There are 2 time periods and the total amount of BTCST awarded daily will be different and also different in each pool. Details are as follows:
From 07:00 am on January 8, 2021 to 07:00 am on January 14, 2021:
- The daily reward is 5,000 BTCST
- Distributed to each pool are as follows: BNB (3,000 BTCST), BUSD (500 BTCST) and BTC (1,500 BTCST)
From 07:00 am on January 14, 2021 to 07:00 am on February 7, 2021:
- The daily reward is 416.67 BTCST.
- Distributed to each pool are as follows: BNB (250 BTCST), BUSD (41.67 BTCST) and BTC (125 BTCST)
Instructions to stake BNB, BUSD and BTC receive BTCST
Step 1: If not, register for a Binance account: https://CHK.com/go/binance
Step 2: Have one of the following coins / tokens available: BNB, BUSD, BTC
Step 3: Access: https://launchpad.binance.com then select “Stake now“With the pool you want:
Step 4: For example, you use BNB, then click “Stake”And enter the amount of BNB you want to send to the pool.
- A snapshot of the user’s balance and total pool balance will be taken every hour to calculate user rewards, which will also be updated every hour.
- Users will be able to accumulate their rewards (calculated per hour) and receive these rewards directly into their spot account at any time.
- Annual yield% (APY) and total balance of each pool will be updated in real time.
- Only one pool can be staked at a time. For example, User A cannot stake the same BNB in 2 different pools at the same time, but can allocate 50% of their BNB to pool A and 50% in pool B.
- Users will be able to withdraw their funds at any time without delay and join any other available pools instantly.
- Tokens are staked in each pool and any unclaimed rewards are automatically transferred to each user’s spot account at the end of each farming phase.
- The BNB participating in Launchpool will still provide users with standard benefits for holding BNB, such as airdrops, Launchpad eligibility, and VIP benefits.
The Future of Bitcoin Standard Hashrate Token
BTCST will focus the community’s efforts on the cryptocurrency mining industry, traders, investors, and Bitcoin enthusiasts around the world.
The initial focus will be on getting new users to deposit their BTCST into the project’s dApp on Binance Smart Chain.
Current development strategy:
- Expanding the user base internationally through a combination of active community management, PR, events, AMA, …
- Offers educational videos and articles on the crypto mining industry.
- Contact Bitcoin traders to highlight the leveraged Bitcoin token concept and why this token has innate value in the market.
- Work with mining pools and miners to get more users and have diverse hash power.
- Distinguishing BTCST from other DeFi projects in the sense that the user stakes the project’s token and receives BTC back.
Future development strategy
- Expand the community to more diverse markets, including: Korea, Japan and Southeast Asia.
- Expand the portfolio of mining pool partners.
- Increase your social media presence on all available channels. Build more communities suitable for Bitcoin, DeFi and cloud mining.
- Gain higher press coverage and support from local influencers.
The program team consists of members with four years of experience building and managing mining sites in China’s Yunnan, Sichuan, Xinjiang and Inner Mongolia provinces of China. The assets managed by the team include some of the largest cloud mining service providers in the world.
BTCST’s founding partners include institutional miners with over 2000 PH / s mining power under management. These founders partner and mining pool partner will form a board of directors with the power to decide the issues of the project (mentioned at the beginning of the article).
The Bitcoin Standard Hashrate Token (BTCST) announced the first crypto miner, Power360. Power360 is one of the largest single miners in the world. Years of stable procurement have helped Power360 build good relationships with leading miner manufacturers such as Bitmain, Whatsminer and Canaan Creative.
Should you invest in BTCST?
Hope the reviews from the article can assist you in deciding whether to invest in BTCST. How do you feel about this project?
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