The launch of the BitTorrent initial coin offering (ICO), which was carried out on the Binance Launchpad platform on January 28, was a success.
The popular torrent client raised $7.1 million USD in less than 15 minutes. Despite this, some interested users complained about not having been able to participate in the acquisition of the initial offer of coins.
BitTorrent had been acquired by TRON founder Justin Sun last winter. According to the official statement published by Binance, the sale of tokens was carried out in two simultaneous sessions: one for purchases with Binance Coin (BNB) and another for purchases with TRON (TRX), which were quickly completed.
“In the BNB session, the 23.76 billion MTB were sold to the participants (…) in 13 minutes and 25 seconds, while in the TRON session, the 35.64 billion BTTs were sold in 14 minutes and 41 seconds, “they announced.
At the time of the sale, the BTT had a price of 0.00001824 BNB or 0.00447261 TRX. In other words, 1 BNB can buy 54,824.56 MTB, while 1 TRX can buy 223.58 MTB. Participants were able to buy between 100 thousand MTB (the minimum amount eligible for purchase) and 166,666,666 MTB (the maximum amount).
“BitTorrent is a blockchain project affiliated with TRON for the peer-to-peer file exchange, which gives a new generation of content creators the tools to distribute their content directly to others on the web. BitTorrent will allow BitTorrent pairs to incentivize activities that lead to a better file exchange, such as the use of faster networks and the enabling of longer seeding periods [Seeding periods] BitTorrent currently has 100 million monthly active users ( MAU) in 138 countries. ”
According to Binance, users from the following countries were not able to participate in the purchase: Afghanistan, Albania, Belarus, Bosnia and Herzegovina, Burundi, Central African Republic, Cote d’Ivoire, Cuba, Democratic Republic of the Congo, Ethiopia, Guinea, Guinea- Bissau, Iran, Iraq, Lebanon, Liberia, Libya, mainland China, Myanmar (Burma), North Korea, Republic of Macedonia (FYROM), Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Thailand, Trinidad and Tobago, Tunisia, Uganda, Ukraine, United States of America (USA), Venezuela, Yemen and Zimbabwe.
This story originally appeared in Spanish at Cripto247