Tron's BitTorrent Coin Launch - Know Everything About This New Tron Based Token

Anisa Batabyal
| 29 January, 2019 | 2 min

Update: BTT Airdrop Date Announced

The BitTorrent Foundation has officially announced that on 11th February 2019 it will initiate its first airdrop of 10,890,000,000 to TRX holders, corresponding to 1.1% of the total circulating supply. Go to the last section of the article to know more about the BTT airdrop.

Yesterday itself, 50 billion BitTorrent tokens got sold in less than 15 minutes, netting more than 17 million. The tokens were sold in two simultaneous sessions on the Binance launchpad: one for Binance's native token, Binance coin (BNB): 23.76 billion BTT sold in 13 minutes and 25 seconds, and the for the buyers using Tron (TRX): 35.64 billion BTT sold in 14 minutes 41 seconds. Every BTT token was priced at $0.00012, tweeted by Justin Tron yesterday itself.

A Brief Backstory On Tron And BitTorrent (BTT):

Tron has launched a native token, called BitTorrent (BTT), which is one of the best peer-to-peer (P2P) client and based on the TRON protocol. The BitTorrent TRON acquisition(also known as project Atlas) happened back in July 2018 for 125 million USD. Recently the TRON co-founder Justin Sun has been seen tweeting about the upcoming launch of BTT token airdrop calling it the first step in creating a fully functional decentralized ecosystem, which made inflow of comments, some of which are as follows:

But not only this, there was a swarm of negativity projected by many, of which Jackson Palmer, the owner of Dogecoin voiced out his opinion saying:

This kind of negativity totally jumped out of the window, when the supporters list increased and include the big names of the crypto industry. After the news of getting free BTT token as an airdrop to all the TRX holders, there have been more and more TRX hodlers getting added to the list, improving the TRX performance. Even the clients of BitTorrent will get free BitTorrent tokens.

Know About BitTorrent (BTT)- the largest decentralized P2P Network In The World

BTT tokens (TRON based cryptocurrency), which would be issued by the BitTorrent Foundation, features and specifies TRX10 compatibility where they have to adhere to the technical token standard, enabled by the TRON blockchain. BTT (Tron based token), which serves over 100 million users and is meant to increase the network speed and eventually attain faster downloads. BitTorrent aims to tokenize its content sharing ecosystem. The BTT ticker is presently used by a trading platform called Blocktrade, and hence should not be confused as the BitTorrent coin price is yet unknown.

Justin Sun claims that this cryptocurrency on TRON Network could empower the new generations of content creators from across the world, where their content can be visible and shared across making it one of the biggest crypto projects so far. As per the token’s whitepaper, the total supply of 990 billion BTT will be minted. The non-US users can get it through Binance Launchpad (which is great) and even introducing BTT airdrops. Initially, the token related features will be implemented on the Windows, as a part of µTorrent classic software, which will be compatible with other clients.

The users who are uploading or publishing the content will get many incentives to continue uploading files even after the downloading is done.

Exchanges Supporting BitTorrent (BTT)

This news led to an increase in TRX value by almost 20% in a week. There are many exchanges who have extended their support for this newly launched token, which are as follows:

Binance

Binance’s CEO, Changpeng “CZ” Zhao also welcomed the decision by BitTorrent and calls it "grandfather of Dapps. CZ tweeted in response to Techmeme:

KuCoin

KuCoin has officially announced that it would be supporting BitTorrent (BTT) airdrop. They suggest everyone to deposit TRX tokens to KuCoin account.

Huobi Wallet

Huobi Wallet has extended their support for BitTorrent (BTT) airdrops, initiating from 11th February 2019. They have officially tweeted:

OKEx

OKEx also announced that it would be supporting the BTT airdrop, wherein the users who deposited their TRON in the OK PiggyBank is also eligible to receive this airdrop. The margin traders having an outstanding balance would have to repay the BTT to the lender right after the airdrop.

Other exchanges like Koinex and WazirX also extended their support to provide BTT token as an airdrop when it happens.

How To Get Free BTT Token (Airdrop):

First of all, all the TRON hodlers who have their holdings with any of these above exchanges will definitely get BTT Tokens. If the hodlers are not having their TRX tokens in any of these exchanges can either wait for the exact BitTorrent airdrop date to be announced or can transfer their tokens to any of these 3 exchanges, preferably Binance. Undoubtedly there will be other exchanges, too which will be extending their support, which we will keep on updating.

The BitTorrent Foundation has decided on initiating its 1st airdrop of 10,890,000,000 BTT on 11th of February, 2019, wherein the snapshot would be taken once the TRX block height reaches 6.6 million (snapshot). The 1st airdrop will be initiated corresponding to 1.1% of the total circulating supply. Twelve months following the 1st airdrop, 11,880,000,000 BTT would be offered to the TRX holders corresponding to 1.2% of the total circulating supply and so on, where the percentage of airdrop will be increased by 0.1% every year, reaching 1.7% in 2025.

For Tron's long term holders, the BTT foundation plans to reward them by giving them additional 99,990,000,000 BTT  during offline or online events, corresponding to 10.1% of the entire circulating supply.

Airdrops will follow a 1:1 rule wherein, if you are holding 1 TRX, you are eligible to get 1 BTT also. All official wallets relying on Tron's network and carrying TRON would be eligible for 1:1 ratio airdrops, corresponding to the amount they are holding. There is no minimum limit required to hold to be eligible for the reward. Even if the TRX is frozen, airdrops would be automatically distributed to the TRX holders.

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