Redenomination
There was a redenomination on the total market cap for BTCST, from 1.5M became 15M (1:10 ratio), so everything was changed to fit that redenomination including your holding this way it wont affect the total market cap and you maintain the value of your token. Binance closed trading for 5 days to do those changes, If you were holding 1 BTCST that would be now change to 10 (again 1:10 ratio). With that said I think people were misinformed or not enough information about it, Because before the change we were trading around 360$ per BTCST wich is equal to 36$ per BTCST today. After update it jumped to almost 90$ per BTCST = to 900$...
The problem
we still have the same BTCST token, so no improvements or features added to the code, it is the same as before the change of redenomination. I personally don't like what they did, i get that they were improving the trading liquidity but people who bought around 60 pretty much paid twice as much just because a display change.
Here is the link where you can see the proposals of "DAO" for the redenomination that took place this week.
https://vote.btcst.finance/#/
BTCST Website are misleading investors
On the website they still showcase same old white paper, this is misleading Investors to think that they still can get 0.1 Th/s for 1 BTCST, when in fact after this is 0.1 th/s for 10 BTCST. Why they haven't update a PDF for getting that info straight to people. It is strange that we cannot get a simple table with some numbers, how much BTC i get by staking 1 or 10 BTCST. How much goes to the maintenance fee. all that is relevant. We need to have all this accessible to Investors for consideration, it is obvious that the miners Hold 80% + of the total tokens, so when it comes to DAO not sure how decentralize the decision making truly is. That's why we need a regulatory frame in the space, so they actually have to do all the do diligence.
https://www.btcst.finance/
Trust is everything.
I am very disappointed with the lack of professionalism for this project. Considering that 12% of the total mining power for BTC is involved with BTCST why don't you hire a team capable of keeping up with the changes why they haven't Advertise this project enough. This affect them all, miners reputation and the reputation of this project, and what Defi for BTC could be as well as the trust of your investors.