STP 5: Maya Proposal to Stop New Issuance of BTCST Token

Dear Community,

On March 10, 2021, the Standard Hashrate Group announced that on March 15, 2021, the team will officially implement the 1:10 redenomination of BTCST tokens. Following the announcement from the Standard Hashrate Group, our partners including Binance, Hotbit, WBF and other exchanges have also issued community notices to support the split of BTCST tokens.

At 12:00 on March 12 (SGT), the countdown to the “τ” protocol launch was updated to the BTCST website. The BTCST v2 “τ” protocol launch will be a disruptive innovation for the whole BTCST ecosystem infrastructure and the overall future of BTC and DeFi. In order to ensure the overall stable functioning of the BTCST v2 “τ” protocol and the rapid development of BTCST, the BTCST team decided to initiate a community proposal vote with the codename STP 5: Maya Proposal.

Proposal Voting Description

1. In order for the BTCST v2 “τ” protocol upgrade to operate smoothly in the future and to further develop the BTCST ecosystem, the BTCST community proposal voting will be held at this time;

2. The proposal voting results will be released after the STP-4: 1:10 Redenomination of BTCST token is completed. Based on the total issuance of 15 million BTCST, the proposal vote this time will adjust the issuance mechanism to stop new issuance of BTCST tokens;

3. If this proposal is passed, Standard Hashrate Group will stop the new issuance of BTCST tokens until the community votes again to resume it.

Voting Parameters

The upcoming release of the BTCST v2 “τ” protocol is a significant breakthrough for increasing the overall potential of BTC and DeFi co-existence in the future. The core team of Standard Hashrate Group is proposing STP 5: Maya community vote to enhance the BTCST v2 protocol upgrade for the BTCST ecosystem after the release of the “τ” protocol.

Regarding STP 5: Maya Stop New Issuance of BTCST Tokens, the community has two options to choose from:

1) Pass

2) Deny

Voting Time:

BTCST community users can participate in this voting through the link here: https://vote.btcst.finance/#/1btc.eth/proposal/QmSLHtESUUfaPK91zFU5k6qjnutuYhuDcvP822oLuq25CL.

Voting starts on March 13, 2021 at 20:00 (SGT) and ends on March 19, 2021 at 20:00 (SGT).

To Community

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 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 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

3/13/2021

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