A HRC 20 token, powered by the Huobi chain
- Minto is a decentralized cloud mining platform that operates as a Decentralized finance (DeFi) platform. In essence, using a DeFi protocol to power the operations of conventional cloud mining services.
- Minto token is backed by a data center located in the Republic of Karelia, which houses the Project's mining operation. The data center's hashrate is tokenized by the BTCMT token. Hence each BTCMT token is equivalent to a specific unit of Minto hashrate.
- BTCMT is an HRC-20 utility token. Hence holding one of these is owning a fraction of the Minto data center located in Karelia.
- Staking BTCMT token entitles the owner to receive rewards for mined Bitcoin from the Minto data center, which is represented in the BTCMT token. The Minto staking reward is calculated from the total unit of hashrate per BTCMT staked.
Overall Token metrics
- Ticker: BTCMT
- Minto Platform: HECO Chain
- Token Type: HRC-20
- Network Name: Heco-Mainnet
- Mining: 90%
- Launch Pad: 5%
- Team: 5%
- Total Token Supply: 5,000,000 BTCMT
The BTCMT tokens have a total supply of 5 million all backed by the Minto data center with a capacity of 50,000 TH/s, as at the time of writing. Hence, 1 BTCMT token is equal to 0.01 TH/s, hashrate.
1. What is Minto Token (BTCMT)?
Minto is providing liquidity access into the Bitcoin cloud mining space. This is being achieved through the tokenization of hashrate from the Minto mining farm. The underlying token is the BTCMT token, which is backed by the hash output of the Minto platform 50,000 TH/s data center. At the moment, each BTCMT token is backed by 0.01 TH/s.
Also, the Minto data center is housed in an 86,000-square-meter facility, which is powered by a private 64.5 MW hydroelectric plant. Also, there is the likelihood of an increase in the data centers' hashrate as more centers are currently under construction.
Also, a part of the Minto operation is the contribution of hash power to the Minto cloud mining network, in exchange for BTCMT. More information regarding this was shared below under the supply plan section.
The Minto projects will be launched in the Huobi pool. Also, other pool partnership plans are ongoing with pools like Slush pool, F2pool, and Binance.
Also, the Minto smart contract has been audited by Hacken.io as secure.
2. Events based on timeline and news
- May 2021: 50 PH/s placed in partner pool.
- July 2021: Published the audit report as provided by Hacken.io.
- August 2021: Started limited presale
- October 2021: Launching staking (mining)
- November 2021: procuring real estate for new mining centers, to expand hashrate.
- January 2022: Second batch, connecting additional 100 PH/s.
3. Minto's tokenomics and supply plan
A BTCMT token can only be issued if miners transfer equivalent Bitcoin mining hash power to the Minto Project and subsequently issued to staking wallets.
Hence, each unit of the BTCMT tokens is collateralized by the computational output available to the Minto decentralized pool. With Minto any miner can transfer their mining power to the Minto Project following certain requirements, which are:
- A proof of legality and ownership of the claimed mining capacity.
- The mining equipment producing the claimed hashrate is in a data center that passes the Minto Project's inspection requirements.
- The size of the transferred mining capacity is greater than or equal to 10 PH/s.
4. Staking on Minto
Minto approaches the staking game a little more differently, such that new mints of BTCMT are distributed ONLY to those who stake. When compared to more traditional mining via pool mining, cloud mining, or outright mining, profits in the BTCMT hashrate tokens are higher if one stake.
What this means is that all tokenized power in Mintos 50 PH/s data center is ONLY distributed to staking wallets. By implication, at the beginning when there are fewer staking wallets pioneering stakers will make exponentially higher profits from staking compared to what miners outside the Minto network will make.
No more than 25% of tokens will be staked (based on data from similar projects on other blockchains). The income received from the data center is divided equally only between those who stake. This means that your income can be 4 times higher than traditional mining.
Also, with the increase in tokenizable capacity from increase in hashrate against a staking token supply, there will be an increase in staking profitability. This will be as a result of the shrinkage in staking reward from the two-fold increase in hashrate capacity, which will reduce the available supply of BTCMT, hence increasing its prices.
Think of this as the price jump experienced with every halving of mineable BTC. Similarly, the deflation in supply of BTCMT available from staking rewards will result in a price spike leaving every staking hand with fewer BTCMT that are worth far more.
5. BTCMT's community overview
BTCMT is geared towards cryptocurrency investors looking to gain some exposure in the Bitcoin mining space, without necessarily getting their hands dirty with setting up and operating a relatively competitive mining farm. With the collateralization of the mining data center infrastructure, traders, investors, and Bitcoin enthusiasts alike, will be able to own a piece of a mining farm without necessarily owning it physically.
The strategy will be to onboard users to stake BTCMT to allow them earn on the mining operations of the Minto data center in the, soon to be completed, Minto dApp on the Huobi Eco Chain (HECO).
All details and channels are available on the website https://minto.finance/
6. Conclusion
The Minto data center is a centralized mining infrastructure. However, the funding and ownership are operated over a DeFi protocol, which makes it agile and responsive to improvement. The downside is that the pool is subject to full custody of Minto, which is antithetical to the absolute sovereignty that decentralization promises investors.
Overall the Minto ecosystem is a solution for those who want to invest in the mining space without the full commitment and risk of being involved in running a Bitcoin mining data center.
Currently, the Minto platform is powered by an 86,000 MW hydroelectric plant, with a hash output of 50,000 TH/s, against a 5 million unit token. There definitely is a clear room for price growth, as the hash power increases, from other user contributions or expansion by the company.
