BitTorrent team will be doing away from being just a Tron blockchain token on December 12th 2021. The team will be launching its own mainnet and doing redenomination on the very same day. Called the BTTC mainnet, the current market cap will not be changed.
Instead, the old BTT tokens will be redenominated and swapped with the new at a ratio of 1:1000. The total supply will be increased to 990,000,000,000,000 (990T).
This will bring it in lines with SHIB token which also has extremely large supply. Retail loves buying cheap coins so this might have a positive impact on BitTorrent’s price.
New BTT tokens will be applied in the BTTC ecosystem which is coming live soon. Use cases are as follows:
becoming a validator; staking to gain rewards; participating in the governance of community;
So, how to prepare for this update. Well, if you have BTT tokens stored on wallet, then you must transfer them to a supported cryptocurrency exchange before 12th of December to get them swapped for new BTT coins.
BTT is native token of BitTorrent ecosystem and one of most popular Tron’s token right now.
I am from Brisbane, Queensland and I hold post of Associate Editor at Cryptocoindaddy.