sludgefeed.com
The much-anticipated BitTorrent Token (BTT) sale on the Binance Launchpad, which allowed purchases using Binance Coin (BNB) and TRON (TRX), concluded in under 15 minutes on Monday.
#Binance Launchpad: BitTorrent $BTT Token Sale Resultshttps://t.co/QcpEKW24tC pic.twitter.com/2f8jjy8etH
— Binance (@binance) January 28, 2019
According to the announcement, 1 BTT was priced at 0.00001824 BNB or 0.00447261 TRX, meaning that 1 BNB could buy 54,824.56 BTT, while 1 TRX could buy 223.58 BTT.
“In the BNB session, all 23.76 billion BTT were sold to token sale participants within 13 minutes and 25 seconds,” Binance stated. “Meanwhile, in the TRON session, all 35.64 billion BTT were sold within 14 minutes and 41 seconds.”
Given the massive influx of traffic and buying interest, Binance reportedly faced a number of technical issues leading up to and throughout the sale. Many investors jumped on Twitter to report issues specifically related to a captcha that hindered purchases. To compensate these investors, CZ revealed that TRON will be conducting an airdrop specifically for those who suffered technical difficulties and missed out on the sale.
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.
— CZ Binance (@cz_binance) January 28, 2019
To further distribute BTT, BitTorrent is conducting a series of airdrops starting on February 11 with the ratio of BTT set at approximately 1 TRX = 0.11 BTT. From there, airdrops will be initiated the 11th of each month at 0:00 UTC.
Excluding the initial airdrop, 11,880,000,000 BTT will be offered to TRX holders over the next 12 months, corresponding to 1.2% of total supply.