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The public sale of BitTorrent Tokens (BTT), which was conducted on Binance Launchpad – the token sale platform by leading cryptocurrency exchange Binance, sold out in less than 20 minutes.
Both sessions concluded. Took about 18 minutes, due to a system issue, would have taken 18 seconds otherwise. Demand was astronomical.
— CZ Binance (@cz_binance) January 28, 2019
Full transparency. The issue experienced today was caused by the "user agreement confirmation" button caching/locking. Most of the stress tests focused on the buy process, this part was not covered thoroughly enough. The order of requests received was preserved.
— CZ Binance (@cz_binance) January 28, 2019
The token sale, which followed the acquisition of BitTorrent by TRON last year, offered 59.8 billion BTT, worth around $7.2 million, through two separate sale sessions, CoinDesk reported.
One session was for those who paid using TRON’s native token TRX, and the other for those who paid with Binance’s BNB token. The TRX session saw participation from 622 participants, while the BNB session saw 340 participants.
It is official: In the BNB session, all 23.76 billion BTT were sold to token sale participants within 13 minutes and 25 seconds. Meanwhile, in the TRON session, all 35.64 billion BTT were sold within 14 minutes and 41 seconds. #BTT $BTT #BitTorrent #TRON https://t.co/C1dqxRkO2l
— Justin Sun (@justinsuntron) January 28, 2019
BTT is a TRC-10 utility token based on the TRON blockchain. It will allow content creators to connect with their audience, earn and spend digital currency without a middleman.
Following the successful token sale, BitTorrent Foundation will now start airdrops of BTT to TRX holders. The first such airdrop is scheduled for February 11 and the final is expected to take place in the year 2025.
