Bitcoin Miners on BSC has backed Hash rate derivative Defi project

Bitcoin Miners on BSC has backed Hash rate derivative Defi project

An algorithmic asset protocol backed by Bitcoin harsh rate is launching TAU.

The TAU protocol was launched by Bitcoin Mining Companies, by putting their weight behind standard hashrate. TAU protocol is a synthetic asset platform that uses hash rate derivatives for its peg mechanism.

Creation of algorithmic versions of bitcoin and other proof-of work assets through a revisited rebase mechanism is the purpose TAU Project.

Including the Synthetic Bitcoin offered by Badger, the basic concept is similar to simple rebase coins. Through bitcoin derived from the mining hash rate, the TAU protocol adds a backstop to the value of its synthetic assets.

The Standard Hashrate’s mining token that is designed to represent 0.1, Terahashes of mining power and Bitcoin standard hashrate token (BTCST) are the relied upon by the TAU mechanisms. BTCST tokens are taken by the TAU protocol and which stakers with synthetic bitcoin are rewarded, while the bitcoin that is associated with hashrate token are pocketed.

A collateral pool is activated, whenever the synthetic asset trading below its peg and the Bitcoin collected from BTCST is used.

The mechanism reduces the number of synthetic tokens in every wallet, while at the same time using its pool of BTC to purchase tokens on the open market and burn them.

When the TAU algorithmic token trades above its intended peg, the protocol adjusts the synthetic difficulty parameter to create more tokens from BTCST staking, a somewhat similar mechanism to Empty Set Dollar and other coupon-based coins, which only distribute new supply to special classes of tokenholders.

 

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