$ 0.3473
35 min ago
(-5.46%)
The Bitcoin Standard Hashrate Token (BTCST) was launched on Binance Smart Chain (BSC) on Dec. 13, 2020. It is collateralized by Bitcoin’s (BTC) hashrate, with each token representing 0.1 TH/s of Bitcoin mining power at an efficiency of 60 W/TH. As such, miners contribute their computational power to the platform in exchange for newly minted BTCST tokens.
BTCST’s goal is to bridge liquidity to Bitcoin’s mining market. This will allow users to get exposure to mining rewards and hashpower of any size, at a low cost. The ultimate goal of the app is to increase the liquidity and efficiency of mining power markets.
BTCST is a token collateralized by real Bitcoin mining power; by staking BTCST, holders can receive daily Bitcoin contributions that correspond to the staked mining power. As such, BTCST allows users to mine Bitcoin from inside the decentralized finance (DeFi) ecosystem. BTCST tokens can only be issued when eligible miners choose to standardize and tokenize Bitcoin hashrate. This is why the project hasn’t had any private or public sale events. The total supply cap is determined by the sum of all BTCST tokens staked on the app. BTCST is based on the BEP-20 standard. Snapshots of user balances and total pool balances are taken each hour in order to calculate user rewards. Each pool’s annual percentage yield (APY) and total balance are updated in real-time, and tokens can only be staked in one pool at a time. Users are allowed to unstake their funds at any time and participate in any of the other available pools. BTCST is a cloud mining platform deployed on the Binance Smart Chain. It offers daily payouts that are executed by a decentralized application (DApp).
Try our free BTC Standard Hashrate Token (BTCST) portfolio tracker if you want to efficiently keep track of your BTCST and other coin/token investments.