TRX News

Binance Announces Discontinuation of BTT Airdrop for TRX Holders – Crowdfund Insider

Cryptocurrency exchange Binance announced over the weekend it is discontinuing BTT airdrop for TRX holders. According to Binance, the BTT airdrop program was instituted by the BitTorrent Foundation in early 2019 to provide additional functionalities to TRX holders who can use BTT to improve download and upload speeds using BitTorrent Speed, BTFS and the BitTorrent Protocol.

“After discussions among the BitTorrent Foundation, community developers, and community representatives, it is the community’s belief that the monthly BTT airdrop to TRX holders has achieved its goals, and will discontinue with immediate effect.”

Binance further revealed that through May 11, 2020, BTT completed 16 rounds of airdrops to TRX holders, airdropping a total of 25,987,500,000 BTT out of the total pool of 99,990,000,000 BTT, allowing millions of TRX holders to use BTT within the BitTorrent ecosystem.

“Today, BitTorrent Speed enjoys more than 12.9 million monthly active users and there are over 10,000 daily average nodes on BTFS. Millions of users have used BTT to seed their downloads, with users reporting a 40% to 300% increase in download speeds.”

Binance added that BitTorrent Foundation will reserve all of the remaining 74,002,500,000 BTT as rewards for the BitTorrent community to encourage their participation in distributed file storage, seeding, and transmission activities.

Binance describes itself as a blockchain ecosystem comprised of Exchange, Labs, Launchpad, Info, Academy, Trust Wallet, and Blockchain Charity Foundation (BCF).

“The Binance exchange provides access to hundreds of digital currency pairs, while maintaining security, liquidity and high-speed. The platform offers some of the lowest trading costs in the industry at 0.1% or even less through the use of Binance Coin. The exchange strives to give
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