Further details have been released regarding BitTorrent‘s BTT token airdrop scheduled to take place in six days’ time.
The BTT token has been introduced as a medium of exchange for BitTorrent users, enabling the purchase of downloadable media, giving users the opportunity to participate in crowdfunding on the platform. File sharing will also offer rewards to users of the platform. The company explained some of the other benefits:
“Existing BitTorrent clients will implement an optional set of backward-compatible protocol extensions which allow them to bid and receive bids for their bandwidth, working in tandem with a cryptocurrency wallet and bidding engine.”
The firm is airdropping free BTT tokens to TRON (TRX) holders and it has been announced that the airdrop will continue for six years until 11 February 2025. The first snapshot will happen when TRON’s block height reaches 6.6 million. The initial airdrop will be a supply of BTT 10,890,000,000, followed by BTT 990,000,000 each month from 11 March.
No minimum of TRX is required to qualify for BTT airdrops. The following wallets and exchanges will support the airdrop: Kucoin, Binance, OKEx, Huobi, Bithumb, UPbit, gate.io, TrustWallet, Bitpie, Cobo, Bibox, Cointiger, ABCC, WazirX, Atomicwallet, DragonEx, CoinEgg, MBAex, Vena Pi, Livecoin, Ellipal, BitForex, Atomicwallet, Tokenomy, Coinsuper, Bitrue, FCoin, Bit-Z, Tronscan.
According to BitTorrent, “an additional BTT 99,990,000,000 will be airdropped to longtime TRX holders through online and offline events”.
It is widely expected that come 11 February, BitTorrent could come into immediate competition with similar file sharing outfits such as Upfiring, Flixxo, JoyStream, and LBRY, although a boost in funding through the airdrop could be significant for the company’s future.
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