Tron [TRX] and Binance team up to complete BitTorrent token [BTT] public sale in record time

2019/01/29/ 12:42

Tron [TRX]’s march towards mainstream adoption has been boosted by multiple update announcements and shout-outs by several luminaries in the cryptocurrency space. At a time when the entire industry has come under attack by the bear, Tron has been rising slowly but surely, piping other cryptocurrencies to claim the 8th position on the charts.

The latest news from the Tron stables is that of the BitTorrent token [BTT] public sale which was conducted successfully on January 28. The airdrop was also assisted by Binance with Changpeng Zhao, the Chief Executive Officer of Binance commending the process as well as the short time that it took to conclude. Justin Sun, the founder and CEO of Tron Foundation had tweeted:

“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”

The airdrops occurred in two separate sessions, one controlled by Tron while the other was conducted by Binance, the largest cryptocurrency exchange. Another key highlight of the public sale was that it occurred on the Binance Launchpad with simultaneous token sale sessions for both TRX and BNB. The official release by Binance revealed:

“Token sale prices for each session are now locked and set at:

1 BTT = 0.00001824 BNB (using a BNB price of 6.58000 USD)

1 BTT = 0.00447261 TRX (using a TRX price of 0.02683 USD)”

The Binance Launchpad session was met with such furor that it caused a system issue. Changpeng Zhao even addressed the issue by stating that:

“Both sessions concluded. Took about 18 minutes, due to a system issue, would have taken 18 seconds otherwise. Demand was astronomical.”

CZ later elucidated on the problem by confirming that the public sale glitch had occurred due to the “user agreement confirmation” button caching/locking. He even admitted that the earlier stress tests on the platform had focused on the buy process while the button was not covered thoroughly enough. At the same time, he confirmed that the order of requests was fully preserved. CZ also added that the process does not need a redo as suggested by some “bear cries”.

One of the other major takeaways from the sale was the camaraderie between Tron and Binance, majorly focused on the Justin Sun-Changpeng Zhao dynamic. This was highlighted when CZ announced:

“Due to overwhelming demands, Tron team generously agreed to do a small airdrop for people who tried to place orders, but was not successful in buying. Exact numbers will be published soon.”

Article Source: AMBCRYPTO
Disclaimer: Opinions expressed herein are those of the writer, they are not investment advice and do not necessarily reflect the views of CryptoIn-N-Out.