After much anticipation, Binance has finally announced the launch date for BitTorrent’s TRON-based BTT token.
BitTorrent Token (BTT) Sale Start Date Revealed
According to an announcement published yesterday on Binance’s company blog, the BitTorrent (BTT) token sale will kick off on Monday, January 28th, at 3 pm UTC (that’s 10 am to all of you East Coast’ers out there). The sale is taking place exclusively on Binance’s token launch platform, aptly named Binance Launchpad.
— Binance (@binance) January 17, 2019
The BitTorrent token (BTT) is a TRC-20 utility token built on the TRON network and will have a total token supply of 990,000,000,000 BTT. Tokens will be available for purchase during two simultaneously occurring sessions using either TRON (TRX) or Binance Coin (BNB).
Token supply for each session is as follows:
- TRX session – 35.64 billion BTT
- BNB session – 23.76 billion BTT
Each token will cost US$ 0.00012, with exact prices in TRX and BNB being set at the time of the token launch. It is important to note that BTT can only be purchased with TRX or BNB and only during each token’s session.
Open to Everyone Except…
Like many token sales, the BitTorrent token sale is not open to residents of the United States, but the US isn’t alone. Here is a list of other countries who are ineligible to participate in the sale:
- Bosnia & Herzegovina
- Central African Republic
- Cote d’Ivoire
- Democratic Republic of the Congo
- North Korea
- Republic of Macedonia
- South Sudan
- Sri Lanka
- Trinidad & Tobago
Can BitTorrent Help Spur Crypto Adoption?
The majority of token-based projects face an uphill battle upon product launch to establish a user base that will sustain the product itself. For many, that uphill battle is made all the steeper by the fact that they are competing against already entrenched industry competitors.
That’s where BitTorrent has a leg up on other projects. The popular file-sharing platform, which was purchased by TRON founder Justin Sun in June of last year, already boasts a staggering user base of more than 170 million monthly users.
That’s a built-in customer base of 170 million people per month who will have access and be incentivized to use BitTorrent’s new blockchain application, BitTorrent Speed, when it launches this summer.
BitTorrent Speed will be integrated into the popular uTorrent Classic Windows client, which is used by more than 1 million people every day. Users of the client can earn BTT by seeding files and can, in turn, spend those tokens to enable faster downloads of files – or trade them, of course.
By having a real use-case for the token, as well as an already established and loyal user base, BitTorrent is perfectly positioned to make new inroads into increased crypto adoption.
Do you plan to participate in the upcoming BitTorrent token sale? What are your thoughts on BitTorrent Speed? Sound off in the comments below.
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