BitTorrent airdrop coming up: this is how the BTT airdrop works

07 Feb, 2019
by Richard Allen
Analysis
BitTorrent airdrop coming up: this is how the BTT airdrop works

On February 11, the BitTorrent Foundation will conduct its first airdrop of BitTorrent tokens (BTT) to TRON (TRX) holders. This is an overview of how the BTT airdrop to TRON holders works.

Read more: BTT - What is BitTorrent's new cryptocurrency token actually for?

Following the success of the ICO for BTT last week last week that saw around $7 million raised in under 20 minutes, Binance stated that there would be a series of airdrops that will continue on the 11th of every month at 0:00 UTC until 2025.

Read more: BitTorrent (BTT) ICO raises $7 million in under 20 minutes

How to qualify for the BTT airdrop

In order to qualify for the airdrop, you’ll need to meet two conditions. The first is that you’ll need to be holding some TRX. There’s no minimum requirement to qualify. The second condition is to ensure that you're storing your TRX in a wallet or exchange that supports the airdrop.

“If you are holding TRX, you will be eligible for BTT airdrops. All official wallets relaying on TRON’s network and carrying TRX will be eligible for BTT airdrops corresponding to the amount they are holding. No minimum of TRX is required to qualify for BTT airdrops,” the statement reads.

There are numerous wallets and exchanges supporting the airdrop. They include Binance, OKEx, Huobi, Bithumb, Upbit, CoinEx, WazirX, Gate.io, Tokenomy, Livecoin and several others. The full list can be found on BitTorrent’s official website.

The airdrop ratio

The airdrop will have a ratio of 1TRX = 0.11 BTT. However, due to the uncertainty of TRX block rewards and token burn, the final ratio may be different. An official announcement will be made confirming the ratio.

On February 11, 2019, the BitTorrent Foundation will initiate its first airdrop of 10,890,000,000 BTT, or 1.1% of the total supply.

Then, over the next 12 months, a total of 11,880,000,000 BTT will be offered to TRX holders, corresponding to 1.2% of the total supply. In 2020, a further 12,870,000,000 BTT, or 1.3% of the supply, will be given away. Then for the next six years, the percentage airdropped will increase by 0.1% per year, reaching 1.7% in 2025.

Additionally, the BitTorrent Foundation will also be rewarding long-time TRX holders by airdropping a further 99,990,000,000 BTT during online and offline events. Overall, 10.1% of the total circulating supply will be given away in airdrops.

Airdrop timeline

  • February 11, 2019: Initial airdrop of 10,890,000,000 BTT
  • March 11, 2019 - February 11, 2020: 990,000,000 BTT will be airdropped on the 11th of each month
  • March 11, 2020 - February 11, 2021: 1,072,500,000 BTT will be airdropped on the 11th of each month
  • March 11, 2021 - February 11, 2022: 1,155,000,000 BTT will be airdropped on the 11th of each month
  • March 11, 2022 - February 11, 2023: 1,237,500,000 BTT will be airdropped on the 11th of each month
  • March 11, 2023 - February 11, 2024: 1,320,000,000 BTT will be airdropped on the 11th of each month
  • March 11, 2024 - February 11, 2025: 1,402,500,000 BTT will be airdropped on the 11th of each month

As can be seen in the timeline, the airdrops will begin on March 11 each year and run until February 11 the following year. During that time period, the specified amount of BTT will be split amongst the qualifying TRX holders each month. This will repeat until February 11, 2015, whereby an overall total of 97,020,000,000 BTT will be airdropped.

Read more: The hype of BTT: will this 10x growth hold overtime?

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