New Yield Farming Platform Raises $1.75 Million In Bear Market With 50% Of Tokens Staked For 300% APY
A new yield farming platform has raised $1.75 million in a bear market, with 50% of tokens bought in the presale already staked, delivering an impressive 300% APY to stakers.
Investors continue to flock to the Bitcoin BSC ($BTCBSC) presale as they believe it has the potential to cause a supply shock on the open market, as most tokens will be locked in the staking contract.
As a result, traders hope to get positioned as early as possible in the upgraded version of Bitcoin at the price of less than $1 as they believe it can somewhat replicate the $BTC bull run.
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Bitcoin BSC Causes FOMO As Stake-to-Earn Attracts Investors
Bitcoin BSC ($BTCBSC) is a groundbreaking yield farming project quickly causing FOMO amongst investors due to its stake-to-earn mechanism.
This staking project is following the success of recent Bitcoin derivatives, such as BTC 2.0 and BTC20 – the latter of which provided 5x returns for early adopters at its peak.
Bitcoin BSC is providing the ability to get in “early” on the upgraded version of Bitcoin at $0.99 before a bitcoin-like price explosion.
The project introduces a new staking concept expected to ease the selling pressure on launch and create long-term utility for the token through passive earning.
It integrates a verified and immutable staking contract that releases $BTCBSC tokens in line with the original Bitcoin block rewards schedule.
Those staking their $BTCBSC earn a percentage of the rewards through the highly accessible proof-of-stake mechanism, which doesn’t require any expensive mining equipment and is energy-efficient.
The more $BTCBSC staked, the higher the share of the rewards for stakers.
The project effectively brings Bitcoin onto the Binance Smart Chain, allowing it to leverage Ethereum’s technology and security as it’s built on the same codebase.
Being deployed on Binance Smart Chain allowed $BTCBSC to provide quicker transaction times with cheaper costs. In addition, the token will be accessible through popular mainstream wallets like MetaMask and Trust Wallet.
Furthermore, Bitcoin BSC also has the potential to integrate a variety of dApps built on Ethereum, allowing it to expand its ecosystem into new DeFi areas such as lending or play-to-earn.
Tokenomics Paying Homage to Bitcoin’s History
The total supply for Bitcoin BSC mirrors the 21 million $BTC supply.
The presale is paying homage to Bitcoin’s history by selling 6.125 million $BTCBSC at a price of $0.99.
This rewinds the clock to Bitcoin’s early days when there were 6.125 million $BTC in circulation for $1 during April 2011.
The presale is split into two phases, with the 4 million $BTCBSC setting the soft cap. Once reached, a further 2.125 million $BTCBSC will be available for the overflow to hit the hard cap.
The total supply available on the presale is 29% of the overall tokens.
Following the presale, a minimum of 14.455 million $BTCBSC will be locked into the immutable staking contract to provide rewards for stakers for the next 120 years – following the Bitcoin block schedule.
That’s 69% of the supply being locked away.
The final 2% of the supply is pre-mined to provide liquidity to decentralized markets.
50% of Tokens Already Staked – Liquidity Crunch Expected?
The staking is expected to cultivate a community-driven enthusiasm behind the project, where the collective actions of stakers will drive the prosperity of all participants.
The staking pool is already live, with the project offering 0.25 $BTCBSC per block in rewards.
At the time of writing, over 800,000 $BTCBSC have already been staked – representing more than half of the presale tokens bought.
Those staking now are set to earn an impressive 300% APY:
Of course, this APY is set to lower as more stakers enter the staking pool but will provide remarkably higher returns than traditional staking tokens, which typically provide around 5% APY.
This tokenomic and staking structure has experts believing there will be a shortage of $BTCBSC on open markets for newcomers following the presale.
They reason that most of the supply will already be locked away as 69% will automatically be sent to the staking contract.
On top of this, the staking numbers show that the majority of presale participants are also staking their tokens, further reducing the supply of $BTCBSC that can be bought on decentralized markets.
As a result, experts believe newcomers will be forced to pay higher prices following the presale as they will likely struggle to find $BTCBSC to buy at the $0.99 presale price point.
With the presale quickly flying off of the shelves, traders are encouraged to get positioned earlier as the fundraising isn’t expected to last more than a fortnight from now.
Otherwise, traders can purchase the token on decentralized markets once it starts to trade on platforms like DexTools – albeit at higher prices.
What Other Tokens Are Showing Hints of Momentum?
It’s not just Bitcoin BSC that continues to thrive during a bear market.
Wall Street Memes ($WSM) is another token that’s been turning heads, and its presale is in the final weeks – making it the last chance to get positioned before the token launches on tier-1 exchanges.
Wall Street Memes Set For Epic Tier-1 Launch
Wall Street Memes ($WSM) has been the talk of the town in recent months, helping it to raise well over $25 million in its presale.
The project has quickly become one of the most sought-after tokens in the meme coin space as retail traders and whales start feeling the FOMO in its presale’s final days.
It intends to make a mockery out of the greedy capitalists on Wall Street through meme-based humor.
The posted memes have gone absolutely viral, making its social media page the go-to source for trading and finance-related memes on the Twitter/X platform, generating over 40 million monthly impressions.
It’s even attracted the attention of the CEO, Elon Musk, who’s been commenting on the hilarious nature of the memes on several occasions;
The popularity of the memes has allowed Wall Street Memes to cultivate a cult-like following on social media, attracting over 1.1 million followers to its community.
This huge following has analysts suggesting that $WSM is pretty much guaranteed a tier-1 centralized exchange token listing as soon as it’s launched.
They reason that the colossal community will generate significant trading volumes for exchanges and predict that tier-1 exchanges like Binance or OKX might be lining up to list it.
As a result, whales are starting to feel the FOMO alongside retail traders during the last few days of the presale.
One whale even bought $850,000 worth of $WSM in one purchase – demonstrating his extraordinary confidence in the project;
Overall, with its internet culture, meme-based humor, and decentralized finance, Wall Street Memes has set the foundation to become the next meme coin sensation in the market.
It’s struck the perfect balance between hype and FOMO to attract the attention of whales and influencers like Elon Musk.
With its huge community, Binance might move to list the project at the end of September, which would result in an extraordinary price surge – capable of replicating the success of $PEPE.
With just a few days to invest, you’ll need to be quick before the presale doors close.
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