Binance has new project in their launch pool which is live now - Bitcoin Standard Hashrate Token (BTCST). Binance users can participate in the launchpool by staking their their BNB, BUSD and BTC tokens into the different pools to farm BTCST tokens. This is starting from starting from 2021/01/08 at 0:00 AM (UTC). It will then list BTCST in the innovation zone at 2020/01/13 6:00 AM (UTC) and will be open for trading for BTCST/BTC, BTC/BUSD and BTCST/USDT trading pairs.
I have just claim my rewards about 4 REEF from staking BNB in the REEF Finance (REEF) and now staking it for BTCST instead. As I only have 0.4 BNB, I don't expect much rewards to claim but will see how much I will get to claim on 13th Jan. I could convert those 14 other smaller assets in my SPOT wallet to BNB but right now I'm just holding it for now. As of writing, I can see that my cumulative reward for BTCST is 0.000014.
Accordingly, this Bitcoin Standard Hashrate Token (BTCST) will brings liquidity to Bitcoin mining. Each BTCST is collateralized by 0.1 TH/s of real Bitcoin mining power. By staking BTCST, holders will receive daily Bitcoin distributions that correspond to the mining power staked. This is what I'm interested in since I don't have the mining power to mine any Bitcoin.
Binance Launchpool Allocation is only 40,000 BTCST (4.00% of initial circulating supply)
The Initial Circulation Supply is 1,000,000 BTCST
*Photo from Pexels
