What is Bitcoin20?

BTC20 is a Proof-of-Stake ERC-20 token on the Ethereum blockchain. It is intended to recreate the state of the Bitcoin blockchain and token supply from 2011, when 6.05 million BTC were in circulation. The token release schedule is designed to mirror Bitcoin’s block confirmations: when each original Bitcoin block is confirmed, $BTC20 tokens are released and distributed to stakers via a staking contract, following the stated Bitcoin release schedule.

After a presale that ran from July 17 to July 29 and raised $6,050,000, staking began on August 9. The description states that more than 40% of the supply was staked within 18 hours. It also claims 14,950,000 BTC20 remain locked in the staking contract, with 50 BTC20 released per Bitcoin block confirmation and rewards accruing every 10 minutes. Rewards follow a 4-year halving schedule: 50 BTC20 per 10-minute block initially, then 25 in 2025, 12.5 in 2029, and 6.25 in 2033.