HomeKNOWLEDGEREVIEW PROJECTWhat is Bitcoin Standard Hashrate Token (BTCST)? The most detailed information

What is Bitcoin Standard Hashrate Token (BTCST)? The most detailed information

What is Bitcoin Standard Hashrate Token (BTCST)?

Bitcoin Standard Hashrate Token (BTCST) brings liquidity to Bitcoin mining. Each BTCST is collateralized with 0,1 TH/s of Bitcoin mining power. By staking BTCST, holders will receive daily Bitcoin distribution corresponding to staked mining power.

BTCST has passed the supervision of CertiK, one of the world's leading blockchain security companies, scored 98/100 in a security audit.

Main features of Bitcoin Standard Hashrate Token (BTCST)

Leveraged token (Leveraged Token)

BTCST guarantees double profits for holders when the market is in an uptrend. Due to the properties of BTCST is Bitcoin's leveraged token.

BTCST is collateralized with 0,1 TH/s of real-world Bitcoin mining power, 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 makers claim a daily Bitcoin mining reward. If a user starts Bitcoin mining with WhatsMiner M21s (a classic hardware model of Bitcoin mining) on October 10 , then at the time of publication, the value of mined Bitcoin will increase by 200%. However, the price of the mining machine itself has increased by 400% in the same time frame.

Therefore, it is safe to call BTCST Bitcoin's leveraged token.

Works like Grayscale in the mining industry

2020 is the year of Grayscale and BTCST could prolong the story in the Bitcoin mining industry. The institutional liquidity provided by Grayscale has fueled the bull market, and BTCST will help free up liquidity for the mining industry and enable liquidity offsets in the secondary market.

By trading BTCST, market participants can:

  • Freedom to enter and exit Bitcoin mining of any size, any time, and at low cost.
  • Even miners who do not have the mining power encrypted by BTCST can use the token to profit or hedge against the risk of mining machine price fluctuations.

Cloud mining

Cloud mining is an imperfect solution to the lack of liquidity and reputation clouded by frequent scams. Legitimate vendors also don't 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 world's 2nd largest Bitcoin mining pool, has BTCST audit function and ensures legitimacy and transparency.

Defi of the future

BTCST is a DeFi project with no risk of impermanent loss. When a user n-stakes BTCST, the user is protected by a token to get the same amount of BTCST along with the accumulated Bitcoin mining reward.

BTCST has passed the supervision of CertiK, one of the world's leading blockchain security companies, scored 98/100 in the security audit.

What is BTCST token?

BTCST is the platform's native BEP-20 unity token. Holder BTCST is equivalent to owning basic mining power. Staking BTCST on-chain allows staking users to receive mining rewards in Bitcoin.

Miners contribute mining power to the platform in exchange for newly issued BTCST.

Basic information about BTCST

TickerBTCST
BlockchainBinance SmartChain
BEP20 Smart contractBTCST
Token StandardUnity token
Token typeBEP-20
Total Supply1,000,000 BTCST
Circulation supply1,000,000 BTCST

Token Allocation

bitcoin standard hashrate token btcst distribution

Release schedule

The total BTCST supply after launch will be determined by the BTCST mining power AUM. All BTCST beyond the initial circulating supply of 1.000.000 BTCSST is subject to a 25-week weekly linear vesting schedule.

Future BTCSTs released to the project team must follow the same vesting schedule.

BTCST is traded on which exchange?

Currently only information, Binance will list BTCST in the innovation zone on January 13, 01 at 2021:01 PM (VN time) and open trading pairs BTCST/BTC, BTCST/BUSD and BTCST/USDT.

BTCST . coin storage wallet

You can store BTCST on wallet Trust Wallett or you can store it on the exchange where you buy. Remember to enable full security.

Bitcoin Standard Hashrate Token (BTCST) on Binance Launchpool

Basic information

  • Token Name: Bitcoin Standard Hashrate Token (BTCST)
  • Total Token Supply: N/A (Total AUM of BTCST determines the 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

Supported pools 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 07:00am on January 08, 01 to 2021:07am on January 00, 14:

  • Daily reward is 5,000 BTCST
  • Distributed to each pool as follows: BNB(3,000 BTCST), BUSD(500 BTCST) and BTC(1,500 BTCST)

From 07:00am on January 14, 01 to 2021:07am on January 00, 07:

  • Daily reward is 416.67 BTCST.
  • Distributed to each pool as follows: BNB(250 BTCST), BUSD(41.67 BTCST) and BTC(125 BTCST)

Instructions for staking BNB, BUSD and BTC to receive BTCST

Step 1: If you don't have one, register for a Binance account: https://blogtienao.com/go/binance

Step 2: Prepare 1 of the following coins/tokens: BNB, BUSD, BTC

Step 3: Access: https://launchpad.binance.com then select "Stake now” with the pool you want:

Binance-Launchpad stake earn btcst

Step 4: For example, you use BNB, then click "Stake” and enter the amount of BNB you want to deposit into the pool.

General Note

  • Snapshot of user balance and total pool balance will be taken every hour to calculate user reward, also will be updated every hour.
  • Users will be able to accumulate their rewards (calculated every 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. 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% to pool B.
  • Users will be able to withdraw their funds at any time without delay and join any other available pool instantly.
  • Tokens are staked in each pool and any unclaimed rewards will be automatically transferred to each user's spot account at the end of each farming period.
  • BNB joining 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 worldwide.

The initial focus will be on motivating new users to stake their BTCST into the project's dApp on Binance Smart Chain.

Current development strategy:

  • Expanding user base internationally through a combination of active community management, PR, events, AMAs, etc.
  • Provides educational videos and posts about the cryptocurrency mining industry.
  • Contact Bitcoin traders to highlight the leveraged Bitcoin token concept and why the token has an innate value in the market.
  • Work with mining pools and miners to attract more users and achieve diverse hash power.
  • What distinguishes BTCST from other DeFi projects in the sense that users stake the project's tokens and receive BTC in return.

Future development strategy

  • Expand the community to more diverse markets, including: Korea, Japan and Southeast Asia.
  • Expand the list of mining pool partners.
  • Increase your social media presence across all existing channels. Build more communities suitable for Bitcoin, DeFi and cloud mining.
  • Gain greater press coverage and support from local influencers.

Roadmap

Bitcoin-Standard-Hashrate-Token-roadmap

Investor

Updating…

Team

The program team consists of members with four years of experience building and managing mining sites in Yunnan, Sichuan, Xinjiang and the Mongolian Cabinet of China. The assets managed by the team include some of the largest cloud mining service providers in the world.

Partner

BTCST's founding partners include institutional miners with over 2000 PH/s mining power under management. These founders and mining pool partners will form a board of directors that has the power to jointly decide on project issues (mentioned at the beginning of the article).

Bitcoin Standard Hashrate Token (BTCST) has announced its first crypto miner, Power360. Power360 is one of the largest single miners in the world. Years of steady procurement have helped Power360 build good relationships with leading mining machine manufacturers such as Bitmain, Whatsminer and Canaan Creative.

Should I invest in BTCST?

Hope the reviews from the article can assist you in deciding whether to invest in BTCST. And you, how do you feel about this project?

Community & Social

 

5/5 - (3 votes)
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