An exciting new token, Bitcoin BSC ($BTCBSC), has emerged as one of the hottest stake-to-earn projects in the cryptocurrency space after raising $1.3 million in under a week.
The project is generating overwhelming hype as it continues to raise funds during one of Bitcoin’s most turbulent times, demonstrating the FOMO behind the project.
Investors are rushing to the project as they believe it has the potential to cause a supply shock on the market, causing prices to surge immediately following its launch.
As a result, investors are eager to get positioned before the Uniswap DEX launch to take advantage of the passive income through staking and the token’s value appreciation.
What is Bitcoin BSC?
With Bitcoin sitting on uncertain territory, Bitcoin-based derivatives are starting to become the talk of the town.
Bitcoin BSC ($BTCBSC) follows the recent string of success for Bitcoin-based derivatives, such as Bitcoin Cash, BTC 2.0, and BTC20 – the latter providing over 5x returns at its peak for early adopters.
The hype behind Bitcoin BSC continues to build as it managed to raise over $1.3 million in under seven days – even during the recent Bitcoin price crash.
🎉 Monumental Milestone Alert 📣#BitcoinBSC has reached $1M raised!
Huge thanks to the amazing #CryptoCommunity for all the support!
Join the #Presale now and don’t miss out on the opportunity to earn passive income through staking your $BSCBSC!💸https://t.co/oM0YP8IlbV pic.twitter.com/tgTInGJtTW
— Bitcoinbsc (@Bitcoinbsctoken) September 11, 2023
In particular, investors are rushing to the stake-to-earn ecosystem as they believe it can cause a massive supply shock on the open market after launching.
Bitcoin BSC’s stake-to-earn utility
Bitcoin BSC is a new Proof-of-Stake (PoS) BEP-20 version of Bitcoin built on the Binance Smart Chain.
The project introduces a novel stake-to-earn utility that provides passive rewards for stakers in the ecosystem.
Instead of using expensive energy-guzzling miners, stakers can earn a passive income through the easily accessible PoS staking consensus mechanism.
The Bitcoin BSC-verified staking contract releases $BTCBSC tokens in line with the original Bitcoin block rewards schedule.
Dive into the evolution of rewards with #BitcoinBSC!
As we merge the value of #Bitcoin with BNB Smart Chain, bringing to you eco-friendly staking for long-term gains.
Join the #Presale, get $BTCBSC, and embrace token-based rewards.https://t.co/oM0YP8IlbV #Stake2Earn pic.twitter.com/mXeSDG1E6z
— Bitcoinbsc (@Bitcoinbsctoken) September 11, 2023
Those staking $BTCBSC will earn a percentage of the rewards through an energy-efficient PoS mining algorithm.
The more $BTCBSC staked, the higher the share of rewards for individual stakers.
The staking pool is already live, and stakers are earning over 400% APY while writing through the 0.25 $BTCBSC block reward.
Of course, this APY will come down to equilibrium once more stakers enter the pool. However, the rewards are still expected to be much higher than traditional PoS staking pools – which usually provide around 5% return.
The staking contract has already been verified by Coinsult – one of the leading security firms in the space – and is shown to be 100% secure.
This staking system is expected to help cultivate a community-driven approach to the ecosystem, where the collective actions of stakers help to drive prosperity for everybody involved.
As a result, users staking $BTCBSC earn simultaneously from the passive rewards and the increasing value of $BTCBSC.
Tokenomics pay homage to Bitcoin’s historical rise
The tokenomics behind the ecosystem allows investors to get in “early” at a $0.99 price point before another Bitcoin-like price explosion.
The tokenomics behind the project mirror the Bitcoin supply, with a total supply of 21 million $BTCBSC.
The presale takes inspiration from the early days of Bitcoin when it was priced under $1 with 6.125 million $BTC in circulation around April 2011.
Therefore, the presale is selling a total of 6.125 million tokens at a price of $0.99.
It’s split into two separate phases, with the first phase selling 4 million $BTCBSC at $0.99 as the soft cap.
Once the soft cap is reached, an overflow of 2.125 million $BTCBSC will be made available to bring the total presale supply up to 6.125 million.
After reaching the hard cap, 14.455 million $BTCBSC tokens will be locked into the secure & immutable staking contract, letting users stake to earn $BTCBSC rewards.
The final 2% of the supply is pre-mined to provide liquidity to DECs to ensure a smooth trading environment for traders.
These tokenomics are designed to foster long-term engagement and participation from the community as stakers earn through rewards and the increasing value of the $BTCBSC token.
Bitcoin BSC – Can it be 10x during a bear market?
Experts quickly recognize $ BTCBSC’s potential, with many analysts believing it can produce significant returns – even during a bear market.
For example, popular YouTuber Jacob Crypto Bury believes that tokenomics can provide a 10x return following the presale.
Analysts reason that the stake-to-earn system will cause a supply shock on the open market, meaning newcomers to $BTCBSC might struggle to buy tokens once the presale has finished.
This is because most of the total supply will be locked into the staking contract and unavailable to purchase.
Immediately after the presale, 69% of the total supply – 14.455 million $BTCBSC – will be sent to the immutable staking contract to provide rewards.
On top of that, experts believe that most presale buyers will also be staking their investment to earn passive rewards.
As a result, there might be a shortage of $BTCBSC on the open market as only a tiny trickle of rewards are likely to be sold in the first few months following the launch.
Therefore, newcomers trying to enter $BTCBSC following the presale will be forced to pay higher prices.
Overall, Bitcoin BSC has set the stage to become one of the most explosive utility token launches in 2023.
The novel staking concept mixed with the introduction of Bitcoin on the Binance Smart Chain is causing a flood of investment into the project.
The presale is not expected to last more than a fortnight at this rate. Therefore, prospective presale investors are encouraged to get positioned early or face the pain of paying higher prices once the token launches and trends on popular platforms like DexTools.
Visit Bitcoin BSC Presale
Credit: Source link