BitTorrent token (BTT) is up nearly 20% after the announcement launching BTTC Mainnet and BTT Redenomination plan.

The mainnet of BTTC is scheduled to launch on December 12, 2021, with BITT redenomination already implemented.

Bittorrent Inc informed exchanges, wallets, developers, and other partners to finalize the redenomination and swap within 30 days. The old BTT tokens will be redenominated and exchanged with new BTT tokens at a ratio of 1:1,000.

Meanwhile, the overall supply of BTT tokens will grow from 990,000,000,000 to 990,000,000,000,000. The new tokens will be known as BTT, as the old ones will be renamed to BTTOLD.

The new BTT tokens will be applied in the BitTorrent Chain ecosystem that is set to be launched live soon. After the launch of BitTorrent Chain, BTTOLD and BTT will exist together for some time.

Source: Medium