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The massive demand for staking in all shapes in forms in the cryptocurrency industry has brought success to the recently launched BTCMT staking service by Minto. The project provided detailed information just days after the release of the program, indicating that more than 700,000 coins have already been staked, and the number of newly-issued ones is even more significant.
Over $1M Staked BTCMT Coins
The project, which saw the light of day more than three years ago, launched the staking service of the BTCMT hash rate token last week. The team explained that the coin functions as a decentralized finance farming token, which was secured by actively operating computing equipment.
Minto believes the release of this service shortly after BTC tapped a new all-time high would help in attracting more customers due to the connection between the primary cryptocurrency and the hash token BTCMT.
It seems these plans have paid out according to the data the team shared in relation to the staked coins. Their statement informed that less than a week after the service went live, the number of coins staked came to just shy of 740,000.
Since the price of each token is precisely $1.5, this means that the total amount which was staked in terms of the dollar was over $1.1 million.
Furthermore, Minto added that the number of issued tokens in the same timeframe was 864,279. Viewed from a USD perspective once again, it’s close to $1.3 million.
It’s also worth keeping in mind that Minto has sought to avoid any energy consumption issues by using energy from UN-certified hydroelectric power plants that leave almost zero carbon footprint, making the rewards green.
Founded in June of 2018, Minto is a digital currency project where merchants and consumers can get rewards in BTC via staking its BTCMT hash rate token. Minto launched a high-tech data center with a capacity of 65 MW, built in the advanced development territory in the Republic of Karelia in northern Russia on the premises of an abandoned aluminum plant.