Community Governance|BTCST STP-4 Redenomination Vote Results

Dear Community,

Per feedback from the BTCST community, the Standard Hashrate Group initiated a community denomination voting proposal at 02:00 UTC+8 on February 22, 2021. For the vote, the proposal provided a total of four options for the token denomination, while keeping the overall valuation of BTCST unchanged:

A: The circulation to change from 1.5 million to 15 million BTCST

B: The circulation to change from 1.5 million to 150 million BTCST

C: The circulation to change from 1.5 million to 1.5 billion BTCST

D: Remain unchanged

After 66 hours of community voting, the BTCST community denomination STP-4 proposal’s voting officially ended tonight February 24 at 20:00 UTC+8. For the four voting options, the community casted a total of 83.3K votes. The distribution of votes is as follows:

Option A: Under the condition that the total valuation of BTCST remains unchanged, the circulation will be changed from 1.5 million to 15 million. A total of 69.02K votes were received, accounting for 82.82% of the total votes.

Option B: Under the condition that the total valuation of BTCST remains unchanged, the circulation will be changed from 1.5 million to 150 million. A total of 9.48 votes were received, accounting for 0.01% of the total votes.

Option C: Under the condition that the total valuation of BTCST remains unchanged, the circulation will be changed from 1.5 million to 1.5 billion. A total of 20.8 votes were received, accounting for 0.02% of the total votes.

Option D: The BTCST circulation remains unchanged. A total of 14.28k votes were obtained, accounting for 17.14% of the total votes.

According to voting data, “Under the condition that the total valuation of BTCST remains unchanged, the circulation will be changed from 1.5 million to 15 million” option was approved by the majority of the BTCST community and became the result of the STP-4 community proposal vote.

Next Steps

Regarding the passed proposal that the BTCST circulation will be changed from 1.5 million to 15 million, the Standard Hashrate Group will respect the result of the community vote and will fully cooperate with the implementation of the result.

In the future, the team will focus on technical support for the token split. We will announce the token split implementation time to users as soon as the Standard Hashrate Group technical team is fully prepared. Since BTCST is listed on several exchanges, the team will apply for the token split process and work with our partnered exchanges to ensure a successful and smooth transition for users on the exchanges. Please notice that the implementation time also depends on the technical capacity of the partnered exchanges.

Community voting proposals are an important part of the BTCST ecosystem governance. The BTCST team takes into consideration the opinions of every community member. For the future development of BTCST and the progress of the whole ecosystem development, BTCST will continue to insist on taking every step with community users together as one. We sincerely thank you for your continued support of the BTCST ecosystem and your active participation in the proposals of the BTCST community. If you have any questions or ideas regarding the BTCST ecosystem and development, you can leave your feedback through the Telegram community channel via this link: https://t.me/BTCST_Community_EN.

About BTCST

BTCST is the blockchain industry’s first Bitcoin leveraged hashrate token and the first hashrate token to launch on Binance Launchpool. BTCST creates an efficient market for Bitcoin mining power in ways similar to how Grayscale Bitcoin Trust creates institutional liquidity for Bitcoin. BTCST is a BSC-based smart contract with no private equity, zero venture capital, and zero team token reserves. BTCST completely relies on community autonomy and has passed the scrutiny of CertiK, one of the world’s leading blockchain security firms, scoring a 98 out of 100 in a security audit.

BTCST has partnered with five institutional miners: BTC.TOP, Easy2Mine, Genesis Mining, Atlas Mining, and Hengjia Group. At the same time, BTCST is supported by Trust Wallet, MathWallet, TokenPocket, SafePal, and other wallets. At present, BTCST is listed on Binance and PancakeSwap.

Standard Hashrate Group

2/24/2021

Bitcoin Standard Hashrate Token (BTCST) brings exchange-grade liquidity to Bitcoin mining. Each BTCST is collateralized by real Bitcoin mining power.

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