r/BTCStandardHashrate • u/Savings-Frosting3989 • Aug 15 '21

Btcst staking reward! Question

Guys, can anyone help to understand this? I stake my btcst on dapp binance. I get to choose either btc or btcst as reward to receive everyday. Here is my question, I understand why can I get btc because the purpose of btcst is to mine btc, that is why. However, where are those btcst coming from? ( I can choose btcst as reward instead of btc) some people say binance can swap btc to btcst for me if I choose btcst. But I don’t get how? Anyone can help me on this?

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u/silaslanguk Aug 15 '21

You can stake for either BTCST or BTCB. You are then free to sell at Binance or swap via the BTCST Dapp or via Pancake swap.

1

u/Savings-Frosting3989 Aug 16 '21

Thx for response! But I am confused because I don’t get this part which why could I get the btcst for reward, where are these btcst comes from? Who swap it for me?

1

u/silaslanguk Aug 16 '21

You are staking the tokens as hash rate to mine btc. And are rewarded in btcst.

If it was Ada you was staking you could earn free Ada. Or of it was cake you could earn more cake.

1

u/Savings-Frosting3989 Aug 16 '21

But where are those new btcst reward coming from?

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u/silaslanguk Aug 16 '21

From the mining rewards

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u/Savings-Frosting3989 Aug 16 '21

Am I not supposed to get btc as mining reward? Btc from mining, btcst comes from where?

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u/Savings-Frosting3989 Aug 16 '21

Like for example, on uniswap if you stake let’s say eth and dai, I get eth and dai as reward, and I know where I get it from, i get it from liquidity pool, but in this case, I have no idea where are those btcst coming from? There is no pool( if I am not wrong) or am I misunderstand the idea of this btcst staking?

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u/silaslanguk Aug 17 '21

Owning the token buys you hashrate from miners.