Kickpad is proud to announce BEST for an upcoming IDO. The IDO will be on May 13 at 2pm UTC.
What is BEST?
BEST is co-founded by the world’s leading mining giants including Weisi Mining, Tandao Miner, and Jiejie Ming. Starting from staking BEST to obtain the corresponding mining rewards of BTC/ETH–the BEST ecosystem, which aims to open up the gate to enter the entire blockchain mining system, will be constructed into a new type of decentralized financial ecosystem, by integrating mining power finance, mining related lending, mining related insurance, and cross-chain ecosystem, etc. in a planned way.
As the leading project of the Hashrate Token 2.0 track, BEST makes it easy for everyone to run their own mining business.
What is BEST?
Holding BEST is legally and functionally equivalent to owning the potential mining rights of BTC and ETH. Staking tokens on the blockchain will entitle the holder of the rights to receive mining rewards. Each BEST is a standardized unit staking token for actual BTC and ETH mining capabilities. Hashrate Token BEST brings exchange-level liquidity into the mining power market, and at the same time meets the needs of traders for mining risks.
In the BEST ecosystem, holding BEST is equivalent to holding cryptocurrency mining power. As long as you go to DAPP to stake the token or add the liquidity of the corresponding trading pair on the decentralized exchange, you can continue to obtain mining rewards. Holding BEST is equivalent to holding BTC and ETH mining power, and also the right to obtain MUSK, the governance token of BEST ecosystem. Users can choose to withdraw the rewards at any time. The specific reward is the daily reward of BTC and ETH corresponding to the mining power minus the electricity fee and the management fee of F2Pool(2.5%). The specific data is based on the official website data of F2Pool and the actual daily mining data. Every day at UTC 00:00, the rewards will be allocated according to the staking and liquidity mining. BEST will bring meaningful liquidity to tokenized BTC and ETH mining capabilities. With the development of the BEST ecosystem, holding BEST will also obtain more mining rights for high-quality crypto assets.
BEST has created an effective market among cryptocurrency miners such as Bitcoin miners and Ethereum miners. By trading BEST, market participants can freely enter and exit cryptocurrency mining risk exposure anytime, anywhere with a low cost. Even miners who have not tokenized mining capabilities through BEST can use the token to obtain profits or hedge against the risk of mining machine price fluctuations.
BEST Mining System
In the BEST mining ecosystem, holding BEST can obtain double mining rewards. Reward 1: Holding and staking BEST can get BTC and ETH mining rewards under the corresponding mining power ratio;
Reward 2: BEST holders have the mining rights to obtain MUSK, the governance token of BEST ecosystem. The below details the rules for obtaining BTC and ETH rewards through power mining.
Mining Power Distribution Rule and Mining Rewards
The BEST mining system is completely decentralized. The entire mining system automatically snapshots the total amount of staked BEST through smart contracts. Every day at UTC 00:00, the system allocates the corresponding BTC and ETH mining rewards according to the amount of staked BEST. The specific ratio of the mining rewards of BTC and ETH under the mining power is that 1 BEST is equivalent to 0.01T/s (BTC) mining power and 0.03M/s (ETH) mining power.
Two days after the exchange listed BEST token, the BEST ecosystem will begin to distribute the BTC and ETH mining rewards corresponding to the amount of staked BEST.
Hashrate Token BEST
BEST, Bitcoin and Ethereum Standard Token, is the token in the hashrate 2.0 ecosystem. The number of BEST is determined by the total mining power of the mining machines managed by the BEST team. Its additional issuance will be made based on the mining power expansion. In the BEST ecosystem, holding and staking BEST is equivalent to owning the underlying mining power of BTC and ETH, and will receive MUSK, the governance token of BEST ecosystem, as mining re- wards. 1 BEST is equal to 0.01T/s (BTC) + 0.03M/s (ETH).
Governance Token MUSK
MUSK is the governance token in the BEST ecosystem. The total amount of MUSK is 10,000,000. The initial daily supply is 40,000 and will decrease by 13% every 30 days. Governance token MUSK is 100% produced by liquidity providing. There is no private sale or pre-mining. The proportion of each mining pool is as follows: