In an exciting move echoing the early days of Bitcoin, a new ERC-20 token named BTC20 ($BTC20) has launched its token presale.
Hosted on the Ethereum blockchain, BTC20 blends the best of Bitcoin and Ethereum by leveraging the latter’s technology while imitating the former’s supply and tokenomics.
Boasting stake-to-earn rewards and an eco-friendly approach, BTC20 is on a mission to reshape the crypto market while maintaining its link to Bitcoin’s beloved history.
BTC20 Seeks to Recreate Bitcoin’s Early Days on Ethereum
BTC20, using the popular ERC-20 protocol, is inspired by the early days of Bitcoin and seeks to give investors a chance to experience the coin’s historical upwards trajectory once more.
The team behind BTC20 seeks to recreate this defining moment in the crypto landscape, but within the context of Ethereum’s cutting-edge blockchain infrastructure.
Per BTC20’s whitepaper, the creators have envisaged a token that mirrors Bitcoin’s historical development while also taking advantage of Ethereum’s smart contract functionalities – particularly staking.
Building the token on Ethereum also has several other advantages; for example, it can be stored in any Ethereum-compatible wallet, such as MetaMask.
This feature guarantees that $BTC20 can seamlessly connect with numerous decentralized applications (dApps) on the Ethereum blockchain, enabling new and creative use cases for the token.
BTC20’s Unique Staking Setup Boosts Sustainability
BTC20’s flagship feature is its innovative staking system that allows token holders to earn passive income.
This is possible since BTC20 utilizes a Proof-of-Stake (PoS) setup – designed to be much less energy-intensive than the original Bitcoin’s Proof-of-Work (PoW) setup.
According to an article from The Guardian, PoS networks reduce power demand by more than 99% relative to PoW networks.
Alongside its environmental benefits, BTC20’s setup allows token holders to stake their $BTC20 and earn recurring rewards.
Out of the total supply of 21 million $BTC20, 14.95 million tokens will be locked in a secure staking contract once the project’s presale concludes.
This setup allows users to lock up their $BTC20 – and the more tokens that are staked, the higher the percentage of rewards on offer.
Following the original Bitcoin release schedule, rewards are distributed automatically when new blocks are validated on Bitcoin.
Importantly, over an estimated 120 years, this staking setup will gradually release the full $BTC20 supply.
Thus, $BTC20 holders can earn passive income without needing expensive (and energy-intensive) hardware – as is the case with Bitcoin mining.
Community-Focused Presale Sets Stage for Successful Launch
The BTC20 token distribution has been carefully designed to promote fairness and community engagement.
BTC20’s developers have just launched a presale, where an initial allocation of 3 million $BTC20 will be available to purchase at the symbolic price of $1 per token.
This mirrors the initial supply of Bitcoin in 2011 when the coin reached the $1 mark.
Once these tokens have been sold, BTC20’s developers intend to follow that up with an additional sale of 3.05 million tokens, also priced at $1.
Combining these two presale stages will see the presale’s hard cap set at $6.05 million.
Importantly, any unsold $BTC20 tokens will be added to the staking pool – boosting the rewards potential for those involved in the stake-to-earn protocol.
The funds raised from BTC20’s presale will be used to ensure the success of the project’s exciting roadmap.
This roadmap details plans to establish strategic partnerships and potential integrations with dApps on the Ethereum blockchain – thereby enhancing the value and utility of $BTC20.
BTC20’s Social Presence & Influencer Attention Turn Heads
Although BTC20’s presale has just kicked off, the project is already seeing growth across various social media platforms.
BTC20’s Twitter account has seen an influx of new followers, with the project’s Telegram channel also expanding as word spreads about this exciting new token.
Major crypto influencers are also taking note of the project’s potential.
Popular YouTuber and analyst Jacob Bury thinks $BTC20 has big potential, highlighting its similarities to Bitcoin in its early days.
The growing level of community support and social media buzz offers further validation for BTC20’s launch – with the momentum building.
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