Launched on the Binance Smart Chain (BSC) on Dec. 13, 2020, the Bitcoin Standard Hashrate Token (BTCST) is backed by Bitcoin’s (BTC) hashrate. Every token corresponds to 0.1 TH/s of mining power operating at an efficiency of 60 W/TH. Miners provide their computational resources to the platform and receive newly created BTCST tokens in return.

The project aims to connect liquidity with the Bitcoin mining sector, enabling users to access mining rewards and hashpower of any magnitude for a low fee. According to the team, the application’s ultimate objective is to enhance both the liquidity and efficiency of markets for mining power.

The BTCST token is supported by the Standard Hashrate Group, which draws its backing from industrial-scale Bitcoin miners. As of February 2021, these miners collectively accounted for 12% of the global hashrate for BTC.

Bitcoin Standard Hashrate Token (BTCST) stands out because it is backed by actual Bitcoin mining capacity. When users stake BTCST, they earn daily Bitcoin rewards proportional to their staked hashrate, effectively enabling Bitcoin mining within the decentralized finance (DeFi) sector.

New BTCST tokens are created only when qualified miners decide to tokenize and standardize their hashrate. Consequently, the project has not conducted any private or public sales. The maximum supply is not fixed but depends on the total amount of BTCST currently staked on the platform.

Operating on the Binance Smart Chain using the BEP-20 standard, BTCST functions as a cloud mining service managed by a decentralized application (DApp). The system captures hourly snapshots of individual and pool balances to compute rewards. While each pool’s annual percentage yield (APY) and total balance refresh in real time, users may stake in only one pool at once. However, they retain the freedom to unstake their assets whenever they wish and move them to different available pools.

The Bitcoin Standard Hashrate Token (BTCST) debuted on December 13, 2020, starting with an initial issuance of 1,000,000 tokens. By March 2021, the circulating amount stood at 589,388 BTCST, while the total maximum supply is capped at 1,500,000 BTCST.

Binance Pool acts as the auditor for BTCST, ensuring both transparency and legitimacy. This asset protocol introduces Bitcoin hashrate assets into DeFi, providing a base for other DeFi lending, borrowing, and trading protocols.

Governance operates through a decentralized autonomous organization (DAO). Token holders, miners, and the wider community jointly make decisions on key project matters. Every proposal, vote, and result is documented and revealed on-chain.

You can trade Bitcoin Standard Hashrate Token (BTCST) on these exchanges: