$BTTC BitTorrent has completed its first buyback and burn, announcing the news on Saturday evening Beijing time. The amount burned in this round accounts for about 2.18% of the total supply.
BTT is the utility token across the BitTorrent ecosystem. It is used to pay fees on the BTTC network, node rewards, staking and governance, as well as fees for renting computing power.
The funds for this buyback came from revenue. The project used all of the previous quarter’s revenue from BitTorrent’s decentralized services to purchase BTT, including revenue from download acceleration, AI inference computing power rentals through BTTInferGrid, and fees on the BTTC network.
The repurchased tokens have been transferred to a burn address on the TRON network. The transaction can be verified on-chain and took place on Friday evening Beijing time.
On the same day, BitTorrent also consolidated its branding, bringing its P2P downloads, AI inference computing network, and BTTC Layer 2 network under the BitTorrent brand.
The plan calls for these buybacks to take place once every quarter, with details of the next round expected to be announced in January next year.
BTT is the utility token across the BitTorrent ecosystem. It is used to pay fees on the BTTC network, node rewards, staking and governance, as well as fees for renting computing power.
The funds for this buyback came from revenue. The project used all of the previous quarter’s revenue from BitTorrent’s decentralized services to purchase BTT, including revenue from download acceleration, AI inference computing power rentals through BTTInferGrid, and fees on the BTTC network.
The repurchased tokens have been transferred to a burn address on the TRON network. The transaction can be verified on-chain and took place on Friday evening Beijing time.
On the same day, BitTorrent also consolidated its branding, bringing its P2P downloads, AI inference computing network, and BTTC Layer 2 network under the BitTorrent brand.
The plan calls for these buybacks to take place once every quarter, with details of the next round expected to be announced in January next year.