Bitcoin Minetrix Set To Burn 10% Of Tokens Following Uniswap Listing

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Bitcoin Minetrix (BTCMTX) officially launched on Uniswap yesterday and the BTCMTX price chart can be viewed on decentralized exchange aggregators like DEXTools and DEX Screener

This launch marks the culmination of a 7-month presale period in which the project raised over $12.3 million from early investors.

However, the bigger news came shortly after the launch when the Bitcoin Minetrix team announced a substantial token burn on the X platform.

The Bitcoin Minetrix team have announced that to celebrate the launch of their BTCMTX token, they will be conducting a massive token burn the following day at 8 am UTC. 

Specifically, they stated their intention to burn 10% of the total token supply, amounting to 400 million BTCMTX tokens, which they state will give their community more control over the Bitcoin Minetrix market.

A token burn is a deflationary event where a portion of the circulating supply is permanently removed from the market, thereby reducing the number of tokens in circulation. 

This can potentially increase the scarcity and value of the remaining tokens, as there is now less supply to meet the same level of demand. The actual impact on price, however, depends on a number of factors.

Some speculate that the Bitcoin Minetrix team may be preparing for a token buyback campaign following the burn, further aiming to drive up the BTCMTX price. 

Token buybacks involve the project using its treasury funds to repurchase and remove tokens from circulation, similar to a stock buyback.

BTCMTX Price Performance After Uniswap Listing

With its Uniswap listing taking place amid Bitcoin crashing, The BTCMTX token price did not perform well so far since launch. 

During the presale, the final price was $0.0148, and currently trading at around $0.0057 on Uniswap, representing a drop of 60%. The team attributes this decline to profit-taking and what they describe as “unwarranted FUD” (fear, uncertainty, and doubt). The current market cap is around $23 million.

Additionally, the broader crypto market has been in a downtrend lately, with the total market capitalization down 20% this month, and Bitcoin trading around $58,000 after peaking near $73,000 in March. This might have affected BTCMTX’s price too.

To provide assurance to market participants, the Bitcoin Minetrix team has locked liquidity valued at approximately $800,000 on the Uniswap V3 pool for 11 months. This liquidity lock demonstrates the team’s commitment to the long-term success of the project and prevents potential rug pulls or liquidity drains.

Furthermore, nearly a quarter of the total supply of 4 billion BTCMTX tokens remains staked by investors, earning an estimated annual reward of 51%. Staking involves locking up tokens to support the network’s security and operations, similar to a fixed deposit in traditional finance.

The amount of staked tokens may help dampen downward price pressure, as these tokens are effectively removed from the circulating supply for the staking duration.

Bitcoin Minetrix Roadmap and Stake-to-Mine Model

A team spokesperson stated that now that the presale raise has concluded, the platform will begin its building phase. 

The roadmap is being updated, however, details of the new roadmap have not been released yet, but investors will likely be particularly interested in further developments around mining partners. Follow the project’s socials to stay informed about future updates.

Bitcoin Minetrix operates on a “stake-to-mine” model, where users stake their BTCMTX tokens to earn non-tradeable ERC-20 mining credits. These mining credits can then be used to mine Bitcoin in a cloud mining setup provided by the project. 

By leveraging the Ethereum network, Bitcoin Minetrix aims to remove the technical complexity and high costs associated with traditional Bitcoin mining, allowing anyone to participate.

Other key features of the Bitcoin Minetrix platform include:

  1. Staking and unstaking flexibility: Users can easily stake and unstake their BTCMTX tokens whenever they want, giving them full control over their assets.
  2. Rewards from mined Bitcoin: The Bitcoin mined through the staked BTCMTX tokens is distributed as rewards to users proportional to their staked amount.


As Bitcoin Minetrix enters its building phase, the project’s ability to deliver on its promises and capitalize on the potential of its stake-to-mine model will be closely watched. 

The token burn and potential buyback campaign may provide short-term price support, but ultimately, the long-term success of the project will depend on its execution and the adoption of its platform.

While token burns and buybacks can sometimes positively impact token prices, they do not guarantee long-term success or profitability. It remains to be seen whether Bitcoin Minetrix can establish itself as a viable and sustainable platform.

Buy BTCMTX by connecting a wallet on DEX Screener at this link.

*Cryptonomist did not write the article or test the platform.