AirDrops are a rather popular event in the cryptocurrency ecosystem. After all, who does not want free cryptocurrencies! The latest airdrop that started off today has been in the news for quite some time now. This is the BitTorrent Token (BTT) airdrop - which has officially started off today. Let us take a closer look at this airdrop and what it means for the future of the BitTorrent Token, as well as for Tron.
However, before we delve further into analyzing or understanding the BitTorrent airdrop, a little it of history: For a long time in 2018, there were speculations that Tron is looking forward to acquiring BitTorrent. This deal was confirmed in July 2018. This was followed by a number of BitTorrent employees quitting the firm following the new management takeover.
Nevertheless, Tron’s BitTorrent Token sale which took place in late January was rather successful. The company managed to sell tokens over $7.2 Million in less than fifteen minutes - which was quite an achievement. Let us now look at the BitTorrent Token airdrop:
BitTorrent Token Airdrop: All That You Need to Know
While Tron’s BitTorrent Token airdrop started off today, it is not a one-time event. This is what separates it from most other airdrops. It is not a conventional one-time airdrop, but a monthly event which will continue all the way till February 2025. Out of the total 990 Billion BitTorrent tokens that exist on the Tron blockchain, about 10.1% of these tokens would be airdropped over a period of six years.
The first of these airdrops has started today. This BitTorrent Token airdrop started off when the Tron blockchain reached the block height of 6.6 Million. 10,890,000,000 BitTorrent (BTT) are being airdropped today. This number is 1.1% of the total number of BTT and will be circulated to the holders of the TRX cryptocurrency.
For those wondering what the arithmetic behind this airdrop is - for every 1 TRX token that a user holds, he will be provided with 0.11 BTT via airdrop. Basically, this means that over the period of the next one year - by February 2020 - 990 Million BTT will be airdropped to the Tron (TRX) holders.
Following February 2020, the BTT airdrop will increase by 0.1% every month. This will continue until it reaches 1.7% of the total supply of BTT in February 2025. This airdrop will be supported by the TRON wallet and the Trust wallet. Moreover, major cryptocurrency exchanges such as Binance, Huobi, OKEx and 11 other exchanges have announced their support for the BitTorrent Token airdrop.
Interestingly, Tron founder Justin Sun has tweeted that while the Airdrop starts off today, there’s another surprise in store on Valentine’s day. As of this writing we do not know what that is - but it will be made known to us shortly. Sun tweeted:
We'll have a secret campaign released on #ValentinesDay for #TRON and #BitTorrent! Numerous celebrities will be on board. FYI, one of the main character in #Friends, one winner of 3 #goldenglobeawards & one winner of 4 #SuperBowl titles. $BTT #BTT #TRX $TRX