BitTorrent ICO was completed successfully through Binance’s exclusive platform – Binance Launchpad. TRON managed to raise approximately $7.1 million in less than 15 minutes.
BitTorrent ICO Raises $7.1M in 15 Minutes
In 2018 TRON’s Justin Sun acquired popular torrent client BitTorrent, announcing plans to launch BTT token through Binance Launchpad – the exclusive ICO platform of Binance – the world’s largest cryptocurrency exchange.
The ICO was held today, January 28th. It was completed successfully in less than 15 minutes, raising a total of $7,128,000 million.
The ICO was held in two separate sessions. As per the official release, the ICO was divided as it follows:
Session 1: users were allowed to buy BTT tokens with Binance Coin (BNB). The price was 54,824.56 BTT for 1 BNB. The session was completed successfully in 13 minutes and 25 seconds.
Session 2: users were allowed to buy BTT tokens using TRX. The price was 223.58 BTT for 1 TRX. This session lasted 14 minutes and 41 seconds. There were minimum and maximum restrictions for users wanting to buy BTT with TRX tokens. They could buy at least 100,000 BTT but no more than 166,666,666 BTT.
Both sessions combined sold 59.4 billion tokens, equal to $7,128,000
Apparently, because of the ‘overwhelmin’ demand, not all orders were fulfilled. To compensate those users, however, Justin Sun has decided to organize a small airdrop for everyone who failed in getting his buying order executed.
The CEO of Binance – Changpeng Zhao, confirmed the above.
Due to overwhelming demands, Tron team generously agreed to do a small airdrop for people who tried to place orders, but was not successful in buying. Exact numbers will be published soon. – Tweeted Zhao.
In an attempt to bring full transparency on the matter, Zhao has explained what the issues were caused by:
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