BitTorrent Releases Details Regarding Its Upcoming BTT Token Airdrops for TRON (TRX) Holders
BitTorrent, the peer-to-peer file sharing platform acquired by the TRON distributed ledger technology (DLT) project has published more details concerning the BTT token airdrops to all TRON (TRX) holders scheduled to go live on February 11, 2019, according to a press release on January 20, 2019.
Snapshot To Be Taken At Block Height 6.6 Million
As stated in the press release, the BitTorrent team will take a snapshot of the entire TRX tokens held by investors when TRON reaches a block height of 6.6 million, and it would execute an airdrop of 1.1 percent of the total circulating supply of BTT (10,890,000,000) on February 11, 2019.
If all goes as planned, the team says it's looking to airdrop another 11,880,000,000 BTT to TRX holders over the next 12 months (1.2 of total BTT circulating supply), with another 99,990,000,000 BTT (10.1 percent of the total circulating supply) airdropped to all long-term holders of TRX during online and offline events.
That's not all, the BitTorrent Foundation has also made it clear that it would airdrop 12,870,000,000 BTT (1.3 percent of the total circulating supply), and the percentage of the airdropped tokens will be increased by 0.1 percent each year, hitting 1.7 percent in 2025.
BTT Airdrops to Follow the 1:1 Rule
The team has hinted that all wallets relaying on the TRON blockchain network and holding any amount of TRX tokens will be eligible to receive the same amount of BTT.
In essence, a cryptocurrency trader who has 1 TRX on his/her wallet will also receive 1 BTT and so on. There's no minimum, or maximum amount of TRX required to qualify TRON investors for the airdrop and the BitTorrent team has said that the BTT airdrops are automatically distributed to all TRX holders regardless of whether their TRX tokens are frozen or live.
At current, the entire number of cryptocurrency exchanges supporting the BTT airdrop remain unknown, however the team says it plans to make an official announcement on its Website and social media handles shortly and all exchanges and trading venues are required to initiate the BTT airdrop process on February 11, 2019, while trading of BTT is expected to begin on February 12, 2019.
BTT Airdrop Timeline
February 11, 2019 – the first BTT airdrop of 10,890,000,000 goes to all TRX holders.
From March 11, 2019 to February 11, 2020, 1,072,500,000 BTT will be airdropped each month.
March 11, 2021, to February 11, 2022, will see 1,155,000,000 BTT airdropped to eligible people on the 11th of each month.
And the fun doesn't end there.
The same process goes on from March 11, 2022, to February 11, 2023, as TRX holders would share another 1,237,500,000 on the 11th of every month.
March 11, 2023, to February 11, 2024, will see another 1,320,000,000 BTT airdropped monthly and finally, 1,402,500,000 BTT be airdropped on the 11th of each month from March 11, 2024, to February 11, 2025.
Notably, the BitTorrent team has stated explicitly that:
“BitTorrent Foundation reserves the rights to change these terms at any time in its sole discretion.”