Binance Exchange tweeted on Monday that it has completed the promised BTT airdrop for TRX holders, for May 2019. The airdrop is part of the long-term airdrop cum loyalty reward for TRX holders.
#Binance Has Distributed May $BTThttps://t.co/cYRE8U1sl6 pic.twitter.com/KOLTyvSXAn
— Binance (@binance) May 13, 2019
In January this year, BitTorrent Foundation had announced a long-term loyalty program for holders its parent token, TRON (TRX). In 2019 alone, the foundation has promised to airdrop 11,880,000,000 (11.8 billion) BTT to TRX holders, and about a billion more for 2020. The airdrop will be distributed on the 11th of every month, till February 2025.
Following the announcement by BitTorrent Foundation, Binance had stated that it would support the BTT airdrop program for TRX Holders. In the official announcement, BitTorrent Foundation had stated,
If you are holding TRX, you will be eligible for BTT airdrops. All official wallets relaying on TRON’s network and carrying TRX will be eligible for BTT airdrops corresponding to the amount they are holding. No minimum of TRX is required to qualify for BTT airdrops.
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About 990,000,000 BTT will be airdropped every month between March 2019 to February 2020. The amount of BTT airdropped with increase year-on-year till the end of the program.
For any coin to be successful, it requires stability over some time. If people just keep buying and selling a particular token, it becomes more prone to extreme volatilities, which eventually hurt the token’s development. For a cryptocurrency to progress, more people need to hold it for long. Crypto companies have been making efforts to increase a loyal user base for their tokens.
For a similar reason, Tron Foundation, owner of BitTorrent platform, has decided to incentivize loyal TRX holders by rewarding them BTT airdrops over a period of 5 years. Though the crypto community has mix reactions for the move, BitTorrent Foundation seems to be fulfilling the promise by airdropping 990,000,000 BTT tokens each month since March 11, 2019.
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TRON has been one of the most preferred cryptocurrencies for adoption in various sectors. The Tron Foundation has been taking giant strides in expanding the platform by adding newer dapps. The platform recently partnered with crypto lending platform Cred, which allows TRX holders to avail crypto loans or even lend their tokens for 10% p.a. Interest.
