By
Chimamanda U. Martha
April 25th, 2024
The BTT airdrop program is set to start on February 11, 2019, and will continue until 2025, with allocations dispersed yearly. It has already received support from Binance, OKEx, Huobi, and other exchanges.
At the very beginning of 2019, peer-to-peer torrent client BitTorrent acquired by Tron, the company behind blockchain-based decentralized protocol, announced the launch its own cryptocurrency, BitTorrent Token (BTT), that would run on the Tron protocol. Later, Justin Sun, CEO of both Tron and BitTorrent, announced via Twitter that the first airdrop will be on the 11th of February this year.
On February 11th, 2019, the BitTorrent Foundation will initiate its first airdrop of BitTorrent $BTT to the TRON $TRX holders. Learn how here 👇https://t.co/fcMGqv2NP6
— H.E. Justin Sun 孙宇晨 (@justinsuntron) January 20, 2019
The airdrop program is set to start on February 11, 2019. The airdrop will continue until 2025, with allocations dispersed yearly. The first airdrop is to take place next month. It will see 1.1% of the total BTT token supply airdropped.
Exchanges Announce Support of BTT Airdrop
Some exchanges have already announced support for the BitTorrent (BTT) Airdrop Program. One of the first to do so was Hong Kong-based OKEx.
AIRDROP: We will support the BitTorrent (BTT) airdrop for Tron (TRX) holders and will handle all technical requirements involved.https://t.co/oKMMzVTcyC
— OKX (@okx) January 21, 2019
As the announcement states, the exchange will take a snapshot of all OKEx accounts at the block height 6,600,000. OKEx promises that users who deposited their TRX in the OK PiggyBank will also receive the airdrop. For margin traders who have an outstanding balance of TRX, they will also have to repay the BTT to the lender after the airdrop.
Another exchange that announced support for BTT airdrop is Binance, one of the fastest growing and most popular cryptocurrency exchanges in the world.
#Binance Will Support the BitTorrent (BTT) Airdrop Program for TRON (TRX) Holdershttps://t.co/DAfCOlw6ip pic.twitter.com/4VksSP8Iey
— Binance (@binance) January 22, 2019
Binance will be taking a snapshot of all TRX balances at block height 6,600,000 on the Tron blockchain as well. The ratio of distribution is 1 TRX to 0.11 BTT for the first airdrop and on all exchanges. In the announcement, the exchange provided the following airdrop schedule for TRX holders:
- 2019/03/11 – 2020/02/11: 990,000,000 BTT airdropped to TRX holders on the 11th day of each month during this period;
- 2020/03/11 – 2021/02/11: 1,072,500,000 BTT airdropped to TRX holders on the 11th day of each month during this period;
- 2021/03/11 – 2022/02/11: 1,155,000,000 BTT airdropped to TRX holders on the 11th day of each month during this period;
- 2022/03/11 – 2023/02/11: 1,237,500,000 BTT airdropped to TRX holders on the 11th day of each month during this period;
- 2023/03/11 – 2024/02/11: 1,320,000,000 BTT airdropped to TRX holders on the 11th day of each month during this period;
- 2024/03/11 – 2025/02/11: 1,402,500,000 BTT airdropped to TRX holders on the 11th day of each month during this period.
Binance noted that “TRX balances under 100 TRX (including those in trade orders) will not be eligible for the airdrop.”
Among other exchanges that have already announced support for the BitTorrent airdrop program are Huobi and Huobi Wallet, WazirX, Koinex, Coin Tiger, Gate.io, FCOIN, Bibox, KuCoin, Bithumb, Coinex, Bitpie Wallet, and Cobo Wallet. This list will be continued.
Tron’s Further Plans
Recently, Tron conducted its long-awaited and widely-promoted developer conference niTron Summit 2019. The main aim of the event was to bring together the most prominent figures in the industry, blockchain developers, crypto enthusiasts and other people interested in the emerging technology and its mass adoption.
At the niTROn Summit in San Francisco, Tron Foundation listed ORACLE among its partners. It also listed Aurora, Steemit, Pantera and some other firms as its partners.
Also we conducted an interview with Tron founder Justin Sun who explained what value the project proposes to its users, unveiled how it stands out from other initiatives and shared Tron’s future plans. Sun believes that this year is big for blockchain and for Tron is particular. According to Sun, Tron will see the growth of trust and popularity. It can truly become “a household name”.