BitTorrent has completed the sale of the BTT tokens based on the TRC-10 standard on the Binance Launchpad platform and managed to collect, in just 18 minutes, $7 million in Tron and BNB (Binance Token).
According to Binance CEO Changpeng Zhao, the BitTorrent ICO would probably have lasted even less if there hadn’t been a problem with the Binance platform.
The details: BitTorrent sold 59,403,820.4 TRX (for a total of $4.1 million) and 433,382.4 BNB (equal to $2.7 million), for a total of $7 million at the current price, in addition to the $20 million of the previous private sale, for an initial monetary value of 89 billion BTT tokens, or almost 10% of the tokens in circulation.
Obviously, the BTT tokens sold by BitTorrent will be released on the market with different methods, listed in this chart:
Citizens of some countries were excluded from the sale of BitTorrent’s BTT TRC-10 tokens, as AML/KYC was required prior to purchase. These are Afghanistan, Albania, Belarus, Bosnia & Herzegovina, Burundi, Central African Republic, Côte d’Ivoire, Cuba, Democratic Republic of the Congo, Ethiopia, Guinea, Guinea Bissau, Iran, Iraq, Lebanon, Liberia, Libya, Mainland China, Myanmar (Burma), North Korea, Republic of Macedonia (FYROM), Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Thailand, Trinidad & Tobago, Tunisia, Uganda, Ukraine, United States of America (USA), Venezuela, Yemen, Zimbabwe, United States of America (USA), United States of America (USA), Trinidad & Tobago, Tunisia, Uganda, Yemen, Zimbabwe.
While Europe, Hong Kong, Singapore, Japan, Russia and some countries of Arabia and Latin America (Singapore has raised the minimum threshold for ICOs, while in the US only ICOs reaching $1 million or less are excluded) were able to participate in the ICO of BitTorrent.
BitTorrent token airdrop
After the partnership with Tron, BitTorrent decided to do a BTT token airdrop to all owners of the Tron token, TRX, for a total of 10,890,000,000 BitTorrent (BTT), or 1% of the total supply.
The airdrop will take place from next February 11th and the BTT token will be distributed. According to the press release, this first airdrop should take place at block 6.6 million of the Tron blockchain.