The upcoming BitTorrent Token (BTT) sale is arguably one of the most anticipated ICOs of 2019. Now, BitTorrent has revealed that the company will hold a number of token airdrops.
First BTT airdrop scheduled for February 11
BitTorrent has previously announced the company’s native, TRON-based ”BTT” token a few weeks back. The firm has now shared another announcement relating to the BitTorrent Token – namely that it will be distributing BTT tokens to TRX holders starting on February 11th.
More specifically, this news came in a recent BitTorrent Medium post. According to the entry, the initial snapshot will be taken once the block height reaches 6.6 million. The current block height stands at just shy of 6 million, and can be viewed here.
Moreover, the first airdrop will then be initiated by the BitTorrent Foundation. This airdrop will consist of 10,890,000,000 BTT – which equals approximately 1.1% of the total circulating supply.
Furthermore, the following 12 months will see another 11.88 billion BTT be issued to TRX holders, which corresponds to 1.2% of the total supply. Subsequently, the BitTorrent Foundation will gradually increase the airdropped amount by 0.1% each year – ultimately reaching 1.7% in 2025.
Furthermore, the BitTorrent Foundation also intends to reward long-time holders of TRON through a massive airdrop of 99,990,000,000 BTT. This translates to 10.1% of the total circulating supply, and will reportedly be released ”during online and offline events.”
Anyone holding TRX will be eligible for the BTT airdrop
Anyone holding TRX will supposedly be eligible for the BitTorrent Token airdrops. As such, there is no ”minimum amount” required to be held by prospective BTT recipients. Moreover, the airdrops will automatically be rewarded to TRON holders, even if their TRX is frozen.
In addition to this, the official BitTorrent website will share information regarding the exchanges supporting the BTT airdrops – as well as on BitTorrent’s official blog, Twitter, and Medium account.
Due to this, anyone looking to partake in the BitTorrent airdrop should mark February 11 in their calendar. Following this, the eleventh of each month will see an additional airdrop of 990,000,000 BTT for the next 12 months.
The full timeline is available in BitTorrent’s announcement, but this monthly amount will successively be increased. As such, it will eventually reach a monthly 1,402,500,000 between March 11, 2024, and February 11, 2025.
It seems quite plain that this initiative jointly aims to increase the price of TRON, as well as the interest in the BitTorrent token.
Image Source: “Flickr”
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the cryptocurrency industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.