Binance Launchpad announced today that it will be holding the sale for BitTorrent’s BTT token on January 28 at 3pm UTC. BitTorrent was acquired by TRON founder Justin Sun in 2018, and BTT will be a TRC-10 standard token on TRON’s blockchain.

It’s interesting to see that the project is going ahead with a public token sale given the current ICO climate, although the public sale allocation of the BTT token supply is fairly small – only 6% of BTT’s supply will be sold to the public, and the project is looking to raise $7.2 million through the sale.

10.1% of the tokens is allocated for airdrops to TRX holders, which will be gradually happening until 2025. The total supply has a hard cap of 990 billion BTT, although the initial circulating supply will be 89.1 billion tokens.

The project already held a private token sale in which backers bought 11% of the total BTT supply at a price of 112 BTT per 1 TRX.

The idea behind behind the BTT token is to provide an incentive model for torrent seeders, improving the network’s performance in the process. This will be done through a feature called BitTorrent Speed, which will be integrated into the BitTorrent and μTorrent clients. The incentive model will be available on an opt-in basis, which means that users will be able to have a normal torrenting experience if they don’t want to either pay for downloading or be paid for seeding.

BTT’s proposition seems feasible at first glance, although it remains to be seen if the TRON network will stand up to the task. Simon Morris, who spent nearly a decade as an executive at BitTorrent, recently told Breaker that he believes there’s no chance TRON can handle the workload: