Today (May 14, 2021) at approximately 10:00pm (SGT, UTC+8), BTCST’s implementation of STP 9: τDoge Initial Liquidity and Airdrop Parameters will come online. BTCST, τDoge, and Dogecoin (BEP 20 version) holders will become the recipients of τDoge airdrops and will be eligible to stake and mine τDoge.
This post, answering the most frequently asked questions about τDoge, is the first of 3 guides that we are publishing to help our community members make the most out of the τDoge Initial Liquidity Event.
- (1/3) : τDoge Launch Guide 1 — FAQs
- (2/3) : τDoge Launch Guide 2 — Airdrop Tutorial
- (3/3) : τDoge Launch Guide 3 — Mining Tutorial
1. What is τDoge?
With the implementation of STP 8 — Restorative Rebase and its demonstrably strong price history (i.e., with a stable price premium at 5–6%), τBitcoin has established itself as the most successful synthetic Bitcoin in DeFi. 🎉 Following the success of τBitcoin, τDoge is the second synthetic asset that BTCST stakers can mine. 🪂
The price of τDoge is pegged 1:1 to that of Dogecoin in accordance with the price pegging mechanism of the Tau Protocol and STP 8 : Restorative Rebase.
τDoge along with τBitcoin will soon form the foundation of τEcosystem starting with the launch of τSage with industry-leading partners.
To see τDoge in your wallet, you should first add it as a Custom Token. We use MetaMask as an example, but the dApp supports TrustWallet, Binance Chain Wallet, and other mainstream wallets as well. Steps to add Custom Assets in other wallets should be substantially the same.
- Open MetaMask and click Assets to see the tokens in your wallet.
- Make sure your MetaMask is connnected to BSC Mainnet, NOT Ethereum.
- Scroll down to the bottom and click Add Token.
- Click Custom Token.
- Paste the contract address for τDoge 0xe550a593d09fbc8dcd557b5c88cea6946a8b404a into the Token Contract Address field.
- Once the address is in, the other fields should auto-fill.
- Confirm the token add.
2. How is τDoge generated both initially and subsequently?
There will be a total of 150,000,000 τDoge initially. These τDoge will be distributed over a course of 8 weeks starting today at approximately 10:00pm (SGT). At that point, the BTCST dApp will show additional vaults to mine τDoge. Details of this Initial Liquidity Event are described here.
Important Reminder: Over 44,000,000 τDoge (about USD 23,000,000 in value) are distributed during the first week of the Initial Liquidity Event. So the mining rewards for the first week will be high in comparison to the remainder of the initial liquidity period.
Subsequently, the total circulation of τDoge will be adjusted in accordance to the price pegging mechanism of the Tau Protocol and STP 8 : Restorative Rebase.
3. Can a user mine τDoge or receive τDoge airdrops by keeping BTCSTs in an exchange account? Other than staking in the BTCST dApp, is there any other way one can participate in the τDoge Initial Liquidity Event?
No. Staking through the BTCST dApp is the only place where one may participate in the τDoge Initial Liquidity Event and Airdrops. You will not receive any τDoge airdrop if your BTCST remains in an exchange account.
4. If I am already staking BTCST to mine BTC or τBitcoin, do I have to do anything to mine τDoge instead?
If you are currently staking BTCST to mine BTCB or τBitcoin, and you intend to stake BTCST to mine τDoge instead, you must switch vaults (e.g., unstake from the current vault and stake them into a new τDoge vault instead).
5. What are the new τDoge Vaults?
- BTCST-τDoge Vault: This vault is where our community members may stake BTCST to earn τDoge.
- Doge-τDoge Vault: This vault is where our community members may stake Dogecoin (BEP 20 version) to earn τDoge.
- τBitcoin-τDoge Vault: This vault is where our community members may stake τBitcoin to earn τDoge.
- τDoge-τDoge Vault: This vault is where our community members may stake τDoge to earn even more τDoge.
- All staking are lossless. There is no impermanent loss. For detailed allocations and the mining schedule, see here.
If you have more questions, join our communities at:
- Twitter: https://twitter.com/BTCST2020
- Telegram: https://t.me/BTCST_Community_EN