Introduction to BitTorrent (BTT) Token
BTT is a blockchain-based token issued by the BitTorrent project on the TRON (Tron) network. It aims to expand the BitTorrent protocol by creating a token-incentivized ecosystem for internet bandwidth and storage. This integration establishes a decentralized network where users can share resources efficiently.
Strategic Partnership with TRON
BitTorrent's collaboration with TRON has created the world’s largest decentralized ecosystem. This partnership enhances TRON’s protocol while positioning BitTorrent as the leading distributed application globally.
BTT Token Migration and Supply Changes
Smart Contract Swap and Token Renaming
- Conversion Ratio: Old BTT tokens (BTTOLD) are being renamed and exchanged at a 1:1000 ratio with the new BTT tokens.
- Total Supply Increase: The updated BTT token supply will grow from 990 billion to 990 trillion.
Key Applications of New BTT Tokens
The upgraded BTT tokens will power the BitTorrent Chain (BTTC) ecosystem with these primary use cases:
- Validation: Serve as a validator on the BTTC network.
- Staking: Stake BTTC to earn rewards.
- Governance: Participate in BTTC community decision-making.
- Gas Fees: Function as BTTC’s native token for transaction fees.
👉 Learn more about BTTC staking rewards
Transition Period for BTTOLD and BTT
Post-mainnet launch, BTTOLD and BTT will coexist temporarily. The token swap contract remains permanently active, allowing users to exchange tokens at any time. Exchanges not currently supporting swaps may continue facilitating BTTOLD conversions.
Legacy Uses of BTTOLD Tokens
Until swapped, BTTOLD retains its original functionalities:
- BTFS Payments: Cover file storage costs on the BitTorrent File System.
- BTFS Mining: Participate in decentralized storage mining.
- Download Speed Boosts: Enhance BitTorrent Speed performance for faster downloads.
FAQs About BitTorrent (BTT) Token
1. What is the difference between BTTOLD and BTT?
BTTOLD represents the pre-swap token, while BTT is the upgraded version with a 1:1000 conversion rate and expanded supply for BTTC ecosystem integration.
2. Can I still use BTTOLD after the swap begins?
Yes. BTTOLD remains functional for BTFS operations, mining, and Speed boosts until exchanged.
3. How do I swap BTTOLD for BTT?
Use the permanent swap contract or supported exchanges. Unsupportive platforms will maintain BTTOLD trading.
👉 Explore BTTC’s validator opportunities
4. What happens to unswapped BTTOLD tokens?
They retain utility but won’t benefit from BTTC’s new features like staking or governance.