What is BTC Standard Hashrate Token?
Bitcoin Standard Hash Rate (BTCST) is an asset protocol built on Binance Smart Chain that allows synthetic crypto assets to be collateralized by Bitcoin's hashrate, with each BTCST token representing 0.1/TH/s (terahash per second) of actual Bitcoin mining power.
BTCST allows stakeholders the opportunity to earn BTC through DeFi-native staking with additional staking infrastructure provided by Tau Protocol, allowing users to mine synthetic Proof-of-Work assets (τBitcoin) by staking BTCST. A portion of BTC generated from staking is used as collateral to be activated whenever a synthetic asset is traded below its intended peg, thus reducing the number of synthetic tokens in every wallet, while simultaneously employing a buy back and burn rebase mechanism to further reduce supply and decrease inflation. BTCST was the 15th project to launched on Binance Launchpad.