BitTorrent Foundation is about to initiate its first ever airdrop of BitTorrent Tokens (BTT) to TRX holders. The event will take place on February 11th, 2019 and cryptocurrency exchange HitBTC has already announced support.
BitTorrent (BTT) Airdrop: 1.1% of Total Supply
All TRX holders will be eligible for BTT airdrops, according to the official publication on Medium. The first ever airdrop of BTT tokens will be executed on February 11th (in 2 days) and it will allocate a total of 10,890,000,000 BTT which translates to 1.1 percent of the cryptocurrency’s total supply.
Additionally, over the next year after this event, the BTT Foundation will offer another 11,880,000,000 BTT to TRX holders, which corresponds to 1.2 percent of the total supply.
This amount is going to increase with 0.1 percent every year until it reaches 1.7 percent in 2025.
In between the regular yearly airdrops, however, the BitTorrent Foundation also intends to airdrop an additional 99,990,000,000 BTT during different online and offline events. The amount corresponds to 10 percent of the digital currency’s total supply.
The post also details that there is no minimum threshold of TRX holdings required for users to qualify for the airdrops.
HitBTC Announces Support for February 11th
In an official post, cryptocurrency exchange HitBTC announced that it will be supporting the upcoming BitTorrent (BTT) airdrops.
Per the release:
HitBTC will open trading of BitTorrent (BTT) and support the upcoming BTT Airdrops to TRON (TRX) holders. The snapshot of TRX balances of HitBTC accounts will occur at block height 6,600,000 on the TRON blockchain, which is estimated to occur on 00:00 UTC February 11, 2019.
The publication also details that the ratio of the upcoming BTT airdrop is going to be approximately 1 TRX = 0.11 BTT because of uncertainty revolving around TRX block rewards and coin burn.
As My Bitcoin News reported yesterday, the price of BTT decreased, despite the market-wide gains noted by almost all cryptocurrencies in the top 100.
Do you qualify for BTT’s airdrop? Let us know in the comments below!