In brief:
- The team at BitTorrent has announced an end to BTT airdrops to Tron (TRX) holders.
- A total of 16 Airdrops have been carried out to incentivize the use of BitTorrent Speed.
- The team at BitTorrent has defined the incentive program as a success.
- The remaining BTT will be reserved as rewards for the BitTorrent community to encourage participation in distributed file storage, seeding and transmission activities.
The BitTorrent team has announced an end to BTT airdrops to Tron (TRX) holders. The team explained that the sole purpose of the airdrops was to incentivize TRX holders to use BTT to improve download and upload speeds using BitTorrent Speed, BTFS and the BitTorrent Protocol.
The team at BitTorrent further clarified that their goal had been met and defined it as a success as a result of BitTorrent Speed enjoying over 12 million active users. Therefore, BTT airdrops will be discontinued effective immediately. Below is a Tweet from the BitTorrent team making the announcement.
📩Announcing the End of BTT Airdrops to TRX Holders
BitTorrent Foundation will reserve all of the remaining $BTT as rewards for the BitTorrent community to encourage their participation in distributed file storage, seeding and transmission activities.
— BitTorrent Inc.🅣 (@BitTorrent) June 13, 2020
Remaining 74 Billion BTT will be Reserved for the BitTorrent Community
After a successful IEO on the Binance Launchpad in early 2019, approximately 10% of the total supply of 990 Billion BTT was set aside for airdrops. The exact number was 99.99 Billion BTT.
At the time of writing this, 25.987 Billion BTT has so far been airdropped to Tron (TRX) holders through 16 successful airdrops.
The remaining 74 Billion will be reserved as rewards for the BitTorrent community to encourage their participation in distributed file storage, seeding and transmission activities. Further details will be provided in the near future by the team at BitTorrent.
The Reaction by the Tron Community
The announcement of abruptly ending the BTT airdrops to Tron holders has been met with a mix of reactions with many TRX investors welcoming the idea. Others saw it was too quick of a move without notifying TRX holders. Below are a few of the Tron community’s reactions via Twitter.
Hahahahaha – @LuckVoltia777
Wow guys, way to pull the rug out from under your investors! – @shanghaipreneur
Im ok with that change. – @DenisCpoker
Fix the windows version it’s not functioning well to distribute – @kiranvormaoo
wtf – @Tsxbo
I think this is good news for #BTT, and it will have a positive impact on the value. – @cryptoplanCH