As the highly anticipated spot Bitcoin ETF approval looms, a new project called Bitcoin ETF Token (BTCETF) offers investors a way to speculate on this landmark event while earning staking rewards.
With a deflationary token burn mechanism tied to real-world milestones, BTCETF aims to become the go-to crypto for investors seeking exposure to the spot BTC ETF narrative.
Stake BTCETF Tokens to Earn Passive Income & Support Project’s Growth
Staking BTCETF presents an appealing way for crypto investors to earn passive income and contribute to the project’s growth.
By locking up their BTCETF, stakers can earn additional tokens over time through rewards allocated from the 25% of the token supply set aside for this purpose.
At the time of writing on November 10, staking Annual Percentage Yields (APYs) are approximately 1,000% – although they will decrease as more BTCETF tokens are pledged.
Over 26.8 million BTCETF tokens have been staked already, equivalent to 1.27% of the supply.
Aside from the passive income potential, staking could help reduce selling pressure once BTCETF makes its open market debut.
Since stakers are more likely to hold onto their tokens rather than liquidate them for profit, this contributes to the stability of the token’s value in the market.
To begin staking and accruing rewards, users must simply visit btcetftoken.com, connect a wallet, select their staking amount, and confirm the transaction.
Staking rewards will be available once the presale concludes and the token has officially been launched.
BTCETF Implements Token Burn & Transaction Tax for a Deflationary Model
Bitcoin ETF Token also implements innovative tokenomics centered around burning tokens and taxing transactions to make the token more scarce over time.
The project incorporates a token burn mechanism, eliminating 5% of its total supply with each major spot Bitcoin ETF milestone achieved, such as SEC approval or hitting $1 billion in assets under management (AUM).
Once all five milestones have been hit, 25% of the total BTCETF supply will have been burned – equating to 525 million tokens.
As outlined in Bitcoin ETF Token’s whitepaper, BTCETF also utilizes a transaction tax that burns 5% of the tokens used in each transaction.
This tax decreases each time a spot ETF milestone is hit, eventually reaching 0% once all five have been achieved.
Through taxation and sizable token burns, investors are incentivized to hold long-term, given the potential for price appreciation.
Since the deflationary mechanisms also align with major events in the crypto space, which could affect BTCETF’s value, there’s scope for holders’ benefits to compound.
Bitcoin ETF Token Presale Generates Major Buzz Across Crypto Industry
The combination of these features has significantly contributed to the excitement and attention Bitcoin ETF Token’s presale has garnered among crypto investors, with the project being featured on major outlets like Investing.com, Yahoo Finance, Finbold, CryptoPotato, and BeInCrypto.
BTCETF was also reviewed in a video by CoinCodex – a cryptocurrency data and analytics platform used by investors worldwide.
In the first five days of the presale, Bitcoin ETF Token has raised over $220,000 in funding.
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The presale offers BTCETF tokens at a starting price of $0.005, with incremental increases planned over the coming weeks as certain milestones are hit.
With 40% of the total supply reserved for presale participants, early buyers stand to gain a significant number of additional tokens compared to those who invest later in the presale or when BTCETF is listed on exchanges.
The presale is open to all, making it straightforward for anyone to become part of the Bitcoin ETF Token community before it hits the public market.
Judging by the rapid presale traction and substantial growth in Bitcoin ETF Token’s Telegram channel, BTCETF is on a trajectory to become one of the most talked-about new projects in the final weeks of 2023.
Visit Bitcoin ETF Token Presale
Source: https://en.cryptonomist.ch/2023/11/13/invest-bitcoin-etf-token-btcetf-presale/