Purpose

To ensure usability and stability of BTCST’s major protocol upgrade to come

Details

• BTCST is in the process of unveiling a major protocol upgrade (“BTCSTv2” or “τ” ) that could transform the Bitcoin and DeFi landscapes.
• The imminent implementation of STP 4 – 1:10 Redenomination will greatly facilitate this BTCSTv2, as STP 4 will increase the total circulation of BTCSTs (without changing valuation) to an optimal level.
• The usability and stability of the nascent BTCSTv2 could be negatively impacted, however, if additional BTCSTs are to be issued through Bitcoin hashrate tokenization.
• The Standard Hashrate Group core team is therefore proposing this STP 5 to stop new issuance of BTCSTs.
• If this proposal is passed, there will be no more new issuance of BTCSTs. New issuance of BTCST can only resume when and if a majority of BTCST holders vote again to unfreeze new issuance.

Why

BTCSTv2, “τ”, is an ambitious protocol upgrade that will elevate Bitcoin and unleash Bitcoin’s DeFi potentials. The Standard Hashrate Group core team is proposing this STP 5 to increase the chance of success of BTCSTv2.