Binance Launchpool Project BTCST Joins TRON Ecosystem
After Standard Hashrate Group successfully completes the 1:10 BTCST token denomination, the current total circulation of Bitcoin Standard Hashrate Token (BTCST) will adjust to 15 million, and the overall valuation of the token will remain unchanged. In order to further enhance the market circulation of Bitcoin Standard Hashrate Token (BTCST) and enrich the BTCST application ecosystem, we are pleased to announce that Standard Hashrate Group (“SHG”) will officially join the TRON Ecosystem with our launch of our TRON Bridge (BTCST-BEP20 to BTCST-TRC20) at 09:00 AM on March 15th (SGT).
Bridging BTCST-BEP20 to BTCST-TRC20 has no impact on the total circulation of BTCST. We will observe the following rules for the Bridge:
1. The amount of total circulation of BTCST tokens remains unchanged at 15 million (post-redenomination);
2. Overall market value of BTCST remains unchanged;
3. Staking, mining and unstaking remains exclusively on Binance Smart Chain. Only BTCST-BEP20 may access our dApp.
SHG and its miner members will convert 15,000 BTCST-BEP20 through the TRON bridge in exchange for 15,000 BTCST-TRC20. Note that this bridged conversion occurs before the implementation of STP 4–1:10 Redenomination. When the redenomination becomes effective, circulating BTCST-TRC20 will adjust automatically to effectuate the redenomination as well.
The TRON Bridge will become live at https://app.btcst.finance at 09:00 AM on March 15th (SGT).
Why we choose TRON Blockchain
Our goal is to broaden the BTCST ecosystem and enrich the application scenarios of BTCST. We choose the TRON blockchain to take advantage of its high-speed performance and low network fee. We will also form partnerships with the existing TRON ecosystem as we work timeless to elevate the future of Bitcoin and DeFi with our coming BTCSTv2 upgrade.The BTCST team is very grateful for the support of the TRON ecosystem and recognizes Mr. Justin for his outstanding contribution to the blockchain industry.
BTCST is the blockchain industry’s first Bitcoin leveraged hashrate token and the first hashrate token to launch on Binance Launchpool. Since BTCST launched, it has ranked first among Binance LaunchPool projects as measured by TVL.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 and Armor Labs, two of the world’s leading blockchain security firms.
BTCST has partnered with five institutional miners that together represent 12% of the entire Bitcoin hashrate: BTC.TOP, Easy2Mine, Genesis Mining, Atlas Mining, and Hengjia Group. BTCST is supported by Trust Wallet, MathWallet, TokenPocket, SafePal, and other wallets. At present, BTCST is listed on Binance and PancakeSwap.
Standard Hashrate Group