We great pleasure, I'm informing you that the team behind Binance LaunchPool has introduced the new Pool for farming the excellent token project:
This is really interesting! I mean, sincerely interesting. This token is issued by owners of mining hardware , which are then able to tokenize it and sell the hashing power to an open market. We, poor guys, are supposed to be the buyers. Here is a quote from the official internet site of the organizations which is releasing those tokens:
Each BTCST is collateralized by 0.1 terahash per second (“TH/s”) of Bitcoin mining power. By staking BTCSTs, holders of the tokens will receive daily Bitcoin distributions that correspond to the mining power staked.
That is pretty self-explanatory. After a bit of research, I've understood that to put to stake those tokens (which one can buy at several DEXs and soon on Binance) one has to connect to a Dapp, like for Ethereum stuff. But BTCST are a BEP-20 token, i.e, it's running on the Binance Smart Chain. So you can expect way lower transaction fees, for interacting with the protocol, making profitable to give it a try also for not-that-rich users.
So the lesson is:
Here the details of the token distribution, with the percentage allocated to the Binance farm:
The profitability of 0.1 THash/s, which is the amount allocated for the owner of 1 BTCST token, today is 0.027$/day , or around 70 satoshis per day. Otherwise, it is a 10$ per year.
Now imagine that one is investing in this token. Let's say that one would be satisfied with a 5% APR . So that if you buy 1 token, earning 10$ per year, it should cost 20 times that, or 200$. In this way, considering costant network hashrate and Bitcoin price, one would have a 5% yearly return.
I'm curious to see what will be the price on Binance after listing!!
If the network hashrate increases, the token value, corrisponding to a fixed 0.1 TeraHash/s , should go down. This gives the possibility to speculate on the future network speed. Buy when there is a high total hashrate, earn Bitcoin, then sell when the hashrate is low... REPEAT!
Thank you very much for reading my post! Have a nice day
Resources
https://www.1-b.tc/
https://research.binance.com/en/projects/btcst
