The Timeline
December 2020 - Bitcoin Standard Hashrate Token (BTCST) was created as a token collateralized by 0.1 TH/s of actual Bitcoin mining power standardized to an efficiency of 60 W/TH. Last year it sounded just like a list of fancy words and all that I understood was that it can be used by miners to earn Bitcoin on Binance Smart Chain.
January 2021 - The Bitcoin Standard Hashrate Token (BTCST) was added to the Binance Launchpool and 4% of the initial token supply (1,000,000 BTCST) was allocated to the participants.
February 2021 - I farmed BTCST on Binance and later on when it was added on PancakeSwap. I grew quite fond of the token and spent few pennies to round up the bag. I put them all together and staked them for some nice APY rates. I was floating in the Hashrate Ocean
April 2021 - The v2 of the BTCST dApp was launched and a new tokenomic model was implemented, as 1 old token was transformed into 10 BTCST tokens. The value of 10 new tokens was identical to the value of 1 old token, and my bag changed from 2.46 to 24.68. The new dashboard added new modern layout and τBitcoin mining.
September 2021 - Bitcoin Standard Hashrate Token had months of steady growth and τDoge farming was added. I can say it today that farming τBitcoin and τDoge was a bad idea, as both tokens are useless and is no liquidity to swap them with something else on any BSC exchange.
Jan 2022 - The fisherman's boat keeps fishing BTC! I didn't even check the dApp between September 2021 and December 2021, when I found a nice bounty earned in there. The majority of the BTCST was staked to earn more BTCST, but the claimed profit was invested in BTCB earning.
I staked the earnings, and some BTCST that I've got by selling DITTO, into the BTCST pool that will mine BTCB. The estimated APY was down to 16.08%, but still big enough to earn some rewards.
One year after the initial staking, I can see some progress. I will not consider τBitcoin and τDoge in the discussion as both tokens are stuck in my wallet. The initial investment was $80, added to the BTCST I farmed on Binance and PancakeSwap, and the current value is much bigger. The mining keeps adding more value, as I currently mine both BTCST and BTCB.
27th of January 2022 - Counting the bounty
BTCST TVL is approaching 100 millions and the number of active addresses has raised to nearly 82,000. The constant growth of the Cryptoverse and new waves of DeFi users can only lead to a continuous demand for BTCST and the other synthetic assets.
The rewards are getting smaller but there are still maintained at a decent level. I mined $22.85 worth of crypto in January, most of it as BTCST. My staking assets are spread in two pools, earning both BTCST and BTCB.
I am currently holding $463 worth of BTCST, and farmed $46 BTCB, $21 τBitcoin and $5 τDoge - summing up to $535 worth of crypto! Not bad at all considering it started with some free farming on Binance and a $80 investment.
The BTCST stash is shared to mine BTCB and BTCST, with $375 mining extra Bitcoin Standard Hashrate and only $84 dedicated to mining BTCB. One year into mining Bitcoin on BSC and I am pleased with the 6.6x growth.
Residual Income:
Torum essence - Be part of the future!
DeFi bounty at CakeDeFi with $30 DFI for new users
The fountains: PipeFlare ZCash, GlobalHive ZCash & Get.ZEN
Publishing bundle: Publish0x, readcash, noisecash, LBRY & Presearch
