Bitcoin Standard Hashrate Token

The Bitcoin Standard Hashrate Token aims to provide exchange-grade liquidity for bitcoin mining and address the current issue of limited exit options when participating in the mining process. Each BTCST is backed by Bitcoin mining power of 0.1 terahash per second. Users can stake their BTCST and thus receive daily bitcoin distributions corresponding to the amount of mining power staked. There is no upper limit and no KYC required.

The Bitcoin Standard Hashrate Token (“BTCST”) is a token backed by Bitcoin mining power. By standardizing and tokenizing mining power in BTCST and listing the token for 2 exchange trading, coin creators can provide exchange-level liquidity in the mining power market while satisfying the mining needs of traders. Each BTCST is a token backed by a standardized unit of actual bitcoin mining power. Owning a token is legally and functionally equivalent to owning the underlying mining power. Placing the token on the chain will entitle the stakeholder to receive mining rewards in bitcoin; and the listing of BTCST on major exchanges will bring significant liquidity to tokenized bitcoin mining power.

BTCST creates an efficient market among bitcoin miners and those who want to become one. By trading BTCST, market participants are free to enter and exit bitcoin mining with any number of coins, at any time and at low cost. Even miners without mining power tokenized with BTCST can use the token to make a profit or hedge the risks of mining equipment price fluctuations. BTCST also links miners to traders in general. Since the market price of BTCST will operate as a leveraged bitcoin token, BTCST will cater to the various trading needs of proprietary and algorithmic traders in ways that were not previously possible.

BTCST will and can only be released when real bitcoin mining power is contributed to or acquired by the project. As part of the contribution program, the miner decides to contribute the appropriate mining power to the project in exchange for new issued BTCST. Since the issuance of BTCST is not regulated, any miner can provide mining power to apply for standardization and tokenization, as long as the miner can demonstrate that the provided mining power is freely owned. The equipment generating mining power is also located in areas that have passed the risk assessment conducted by the program team, and at least 5 PH / s of mining power is allocated. Also, as part of the acquisition program, the project acquires the corresponding capacity for the extraction of bitcoins on the open market through capital raised or retained earnings. BTCST issued under the Acquisition Program will be owned by the project itself. Under the Contribution or Acquisition Program, the number of units of TH/s into which the contributed or purchased bitcoin mining power can be standardized will be at least equal to the number of newly minted BTCSTs.

The project team will be the main market maker of BTCST. Unlike tokens, whose intrinsic value is difficult to determine, BTCST not only has an intuitive valuation model, but also an over-the-counter market for underlying assets. Thus, the project team has clear methodologies and incentives to bring the BTCST market price to equilibrium. The program team consists of mining veterans with four years of experience in building and managing mining farms in the Chinese provinces of Yunnan, Sichuan, Xinjiang and Inner Mongolia. The assets managed by the team include those of some of the world's largest cloud mining providers. More information about the program team can be found on the official website. The founding partners of BTCST are institutional miners with a mining power of over 2000 PH/s. These founding partners and the partner mining pool will form a board that collectively decides on important issues for the project, including new releases, cost adjustments, excess profit distribution, and future features. After the launch, there will be three seats on the board of directors, two of which will be occupied by the project team, and one by the partner mining pool.

What Is Bitcoin Standard Hashrate Token (BTCST)?

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.

Who Are the Founders of Bitcoin Standard Hashrate Token?

The Standard Hashrate Group, which is behind the BTCST token, is backed by industrial-scale Bitcoin miners, which collectively represented 12% of BTC’s global hashrate as of February 2021.

What Makes Bitcoin Standard Hashrate Token Unique?

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).

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How Many Bitcoin Standard Hashrate Token (BTCST) Coins Are There in Circulation?

BTCST was launched on December 13, 2020, with an initial token supply of 1,000,000 tokens.

As of March 2021, it has a circulating supply of 589,388 BTCST and a maximum supply of 1,500,000 BTCST.

How Is the Bitcoin Standard Hashrate Token Network Secured?

The Binance Pool functions as the auditor for BTCST and guarantees legitimacy and transparency. BTCST is an asset protocol that brings Bitcoin hashrate assets to DeFi and serves as a foundation for other DeFI trading, lending and borrowing protocols.

BTCST is governed in the form of a decentralized autonomous organization (DAO). The token holders, miners and the broader token community collectively decide on material issues associated with the project. All proposals, votes and outcomes are recorded and disclosed on-chain.

Where Can You Buy Bitcoin Standard Hashrate Token (BTCST)?

Bitcoin Standard Hashrate Token (BTCST) can be traded on the following exchanges:

Binance

VCC Exchange

WBF Exchange

PancakeSwap

Read our guide on how to buy Bitcoin to find out more.