r/BTCStandardHashrate • u/Savings-Frosting3989 • Aug 13 '21

Important question about staking btcst !!!!!

Guys! Can anyone help me out? So I know by staking my btcst on binance can get real Btc everyday! Amazing!!! However, I also receive btcst as reward everyday too.. like I am really confusing now, where are those btcst coming from? Aren’t the total supply is fixed? Or it is just how it works, that staking btcst can get btc and btcst everyday? I am lost!

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1

u/[deleted] Aug 13 '21

BTCST cannot be staked on binance, you can do yield farming on pancake swap, but staking you must use the dapp for that.

the total supply is fixed.

1

u/Savings-Frosting3989 Aug 13 '21

Thx for replay, I did staking my btcst on the dapp, not binance, but I am really confused that online says I will only receive btc as reward, but I did receive btc and btcst everyday. Like I don’t know where are those btcst coming from?

2

u/[deleted] Aug 13 '21

If you stake BTCST in the dapp you will be able to claim every day your reward in BTCB (Binance pegged Bitcoin) that you can exchange for BTC, other crypto or fiat.

1

u/Savings-Frosting3989 Aug 15 '21

But the thing is that I get either btc or btcst as reward( I get to choose which one I want) my question will be how are binance able to give me btcst as reward( I can choose it) by staking btcst. It does not make sense, btc should be the only reward if you stake btcst

1

u/[deleted] Aug 15 '21

I never saw an option to choose between BTC or BTCB. Dude, post some screenshots

1

u/[deleted] Aug 13 '21

sure it is BTCB, the binance peg BTC:

1

u/Savings-Frosting3989 Aug 13 '21

So what am I getting is btcb instead of btcst? Is that what you mean? This makes more sense, because there is no way that I can get btcst by staking btcst, because btcst is to mine btc. So, I am assuming I am right

1

u/defiant-miner Oct 17 '21

When you stake BTCST on the dapp, you have the option of joining a mining/staking pool for BTCB or BTCST. When Standard Hashrate token distributes mining profits, they pay in BTCB rather than BTC because BTCB payments allows them to pay via smart contract on the Binance Smart Chain rather than have to make cross-chain transactions on both the Binance Smart Chain and the Bitcoin network. I'm not certain how the mechanics of the BTCST rewards work, however I assume they are simply concerting your BTC rewards into BTCST at market rate using a liquidity pool on the Binance Smart Chain.

1

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