What is BTCST?
Bitcoin Standard Hashrate Token (BTCST) is a token collateralized by 0.1 TH/s of actual Bitcoin mining power standardized to an efficiency of 60 W/TH and can be used by miners to earn Bitcoin, therefore staking BTCST on-chain entitles staking users to receive mining rewards in Bitcoin.
Binance Launchpool: From 8th of January, users could farm BTCST by staking BINANCE Coin (BNB), Binance USD and obviously Bitcoin (BTC) to farm BTSCT. The farming period will end in February, and there are still 12 days of farming.
Bitcoin Standard Hashrate Token (BTCST) doesn't have a total token supply as the total AUM of will determines the total supply of the token. The Initial Circulating Supply will be 1,000,000 tokens and Binance Launchpool will distribute 4% of it, 40,000 BTCST, through the three farming pools. BTCST was added into the Innovation Zone on the 13th of January. I managed to farm a fair amount until the rewards were reduced.
Staking tutorial
The Standard Hashrate website will show the All-time BTC mined by contract and the total amount of staked BTCSTs. The equivalent of mining power is giving the level of BTC reward, which will be distributed to the miners, according to their share of the pool.
I farmed 0.0778 BTCST through the Binance Launchpool, and I decided to stake them.The daily estimated share was 0.00000003 BTC (wow, that's a lot of zeros) which was about $0.01. The approval fee was $1.16 which was equal to 116 days before earning some profit. I decided to do a tactical retreat and comeback stronger, as this beast is above my level right now. He all know that no one can single clear a 25 raid.
Meanwhile I used the PancakeSwap to farm BTCST, staking the CAKE generated by LPs. The results were good.
To slay this beast, I had to comeback with a army! I used 60 BUSD to hire BTCST mercenaries, while still farming on Launchpool.
The army grew and grew until was ready for the strategic attack. The troops were sent to Binance Smart-Chain, where the PancakeSwap battalion was waiting for orders. The battle plan was ready and the only missing thing was the order to attack!
And in the down of 24th of January ... the order came! Trumpets were singing and the drums of war where banging loud! The PVM battle banners were flying high while commanders were marching on their frostwolves and shouting the same battlecry! Leeeerooooy Jenkins!
Had no clue why the fee was only $0.04 but I don't really care, as long as I had to pay a much lower fee than two days ago. The daily Bitcoin reward will be 0.00000049, which at today's price is $0.0157, which will give a $0.47 monthly forecast. Is it low? In my opinion is just residual income gathering without any effort. Even if yesterday's daily share was forecasting an amount, the reward after 24 hours was much bigger. My BTC balance is 0.00001323, which is $0.42 per day, a real game changer! At this rate will mine $12.60 worth of Bitcoin per month. For amusement only, will take 75,757 days to mine one BTC, which is 207 years!
Resources
BTCST Website
Binance Launchpool: farming Bitcoin Standard Hashrate Token (BTCST)
Residual Income:
PVMihalache Amazon Books
DeFi bounty at CakeDeFi with $30 DFI for new users
The fountains: PipeFlare ZCash, GlobalHive ZCash & Get.ZEN
Publishing bundle: Publish0x, ReadCash, LBRY & Presearch
(Trophy cabinet under construction)
