We Need a Hashrate Token: Badgers on Mars

As a Badger hodler I cannot help but sense there is something missing! PoW is the engine that drives our Bitcoin and therefore our Badgers’ car.

Easily one of the most interesting narratives of this cycle is the concept of a Hashrate token; effectively tokenized mining rigs. Tokenized hashrate for retail & institutional has been pulled off only by a few players including BTCST (Binance) and the Mars Project (Poolin, top two/three mining pools by EH/s) and Blockstream (Private institutional). BTC mining equipment is expected to be a laggard this cycle versus spot price and therefore a really interesting up-and-coming opportunity.

The far more affordable hashrate token on the market today comes from Mars Project via Poolin team. pBTC35A is their BTC hashrate token which represents 1 TH/s of mining power; effectively it is the mining machine token. It has an ROI of just over one year currently, compared to multiple years for BTCST. Mars is the governance token which is itself also a hashrate token, capturing value from unstaked BTC miners. Today you can visit mars.poolin.fi and check out the compelling APYs offered on the platform - the APY for pBTC35A (in wBTC) is currently hovering around 97%.

I wanted to reiterate that this is an interesting vertical and perhaps one of the final missing pieces that is not currently in the works on Badger. We are doing everything awesome with BTC - except capturing value from PoW! This has implications for users and the treasury alike, because mining equipment and therefore hashtokens are tied back to real-world assets on the up-&-up, it is a Bitcoin-forward opportunity that enhances our exposure while deleveraging our reliance on spot price or USDT.

I would like to get a discussion going about exploring a partnership with the Mars Project; another group of innovative Bitcoin maxis who want to disrupt Bitcoin on DeFi.