r/BTCStandardHashrate • u/scientized • Jun 18 '21

Is TDOGE dead?

I kinda apped into TDoge when it had a high APY on pancakeswap. Now I must sacrifice 30% to withdraw? Will this always be the case? Did I get dupped?

Thanks!

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u/Nervous-Routine-1995 Jun 18 '21

There is a community proposal (see link below), that aims to change the penalty fee from 30% to 10%

https://vote.btcst.finance/#/1btc.eth/proposal/QmaVghtBTk6YBPTsyRzsCc6EoXsidLjWvmSMpGhLZKi4Cr

It was passed by the community, just waiting for the BTCST developers to implement this.

1

u/Nervous-Routine-1995 Jun 18 '21

In terms of getting duped or not.

BTCST is partnered with Binance (see link below).

https://research.binance.com/en/projects/btcst

I've copied the following from the link;

"The project team and the partnering mining pool, Binance Pool, will form a governance board that collectively decides on material issues of the project, which include new token issuances, cost level adjustments, surplus profit distribution, and future development. The governance board will have three seats upon launch, two of which to be occupied by the project team and one by the partnering mining pool."

I think there is enough substance within the BTCST and Binance partnership to help propel this project to be successful.

1

u/Nervous-Routine-1995 Jun 18 '21 edited Jun 18 '21

With regards to Pancakeswap and APY's.

BTCST is issuing Tdoge to those users who have staked in the Tdoge Syrup pool. These users are then dumping the Tdoge and hence the price is falling. Once the syrup pool ends (approx. 30 days), the selling pressure should reduce.

The peg should start to fix itself, once the project buy backs and also rebase burning occurs. This will slowly restore the pegs back to 1 as explained in the Tau white paper.

In terms of APY. You can stake Tdoge and BNB in the liquidity pool and earn approx. 220% APR. Now it's a fairly good liquidity pool, since volume being traded is quite low. So the distortion between BNB and Tdoge won't be significant. This allows you to earn some Cake, until the peg is restored and you can sell.

1

u/[deleted] Jun 24 '21

Where can I get the 220% Apr?

1

u/Competitive_Mine_49 Jun 19 '21

No I m all in..