The mainnet of BitTorrent Chain is going live soon! BitTorrent Chain (BTTC) is the world’s first heterogeneous cross-chain interoperability protocol, which adopts PoS (Proof-of-Stake) mechanism and leverages sidechains for the scaling of smart contracts. It now enables interoperability with the public chains of Ethereum, TRON and BSC, with more chains to be supported in the future.
Poloniex will be supporting this upgrade and facilitating it for our customers. This means that if you hold BTT on Poloniex we will be converting your funds with no hassle to you. Old BTT tokens will be redenominated and swapped with the new BTT tokens at a ratio of 1:1000. Meanwhile, the total supply of BTT tokens will be increased from 990,000,000,000 to 990,000,000,000,000. The new tokens after redenomination are referred to as BTT, while the old ones are renamed as BTTOLD (BTTOLD stands for the old BTT tokens thereafter).
This means that if you hold 1000 BTT tokens on Poloniex pre-redenomination (BTTOLD after conversion) you will end up with 1000000 new BTT (known solely as BTT going forward).
The BTT wallets have already been shut down for maintenance and will reopen once the migration has concluded. Trade will be shut down for BTT in the coming days/weeks in order to facilitate this migration, and will be reopened once the migration has completed. The BTT ticker will not change, meaning all BTT traded on Poloniex will be the new BTT token. Deposits/withdrawals of BTTOLD will no longer be supported once the migration has completed, nor will trading of the old token be available. This means that all BTT tokens held on Poloniex will in fact undergo this migration, leaving no BTTOLD on exchange whatsoever.
More information will be provided as we draw closer to finalization of the migration.
January 05, 2022