BitTorrent Tokens (BTT)
The BTTC ecosystem is powered by its native token, BTT, which was initially launched as a TRC-10 token on the TRON blockchain. The token was later migrated to the TRC-20 token standard, enabling greater use cases for integration with smart contracts as well as compatibility with Ethereum's ERC-20 token standard.
The BTT token was first launched to encourage file seeding on the BitTorrent peer-to-peer distributed file sharing network. The program is known as BitTorrent Speed and rewards users with BTT tokens for seeding files via an integrated wallet in their torrent client. Apart from rewarding seeders, BTT can also be used for payments for BitTorrent products.
On the decentralized finance (DeFi) front, BTT is the governance token for the BTTC DAO and also serves as a gas token for the chain, power transactions and validator rewards. Additionally, like many other tokens, it can be used as collateral on platforms such as JustLend on TRON, where users can borrow against their BTT tokens or borrow BTT tokens against other deposited collateral. In fact, over $9.1 million worth of BTT tokens are currently supplied on JustLend, TRON's largest DApp and lending protocol.
BTT is also officially accepted as legal tender in the Commonwealth of Dominica, after approval was passed in October 2022, granting status to all cryptocurrencies on TRON, including JST, NFT, TRX, USDT, USDD, and TUSD.
