BitTorrent Burns 21.62 Trillion BTT in First Earnings-Funded Buyback

BitTorrent (BTT) burned 21.62 trillion tokens worth about $7.6 million on Oct. 16 after buying them with its third-quarter decentralized-business earnings.

BitTorrent launched the quarterly buyback-and-burn plan on July 6. The quarterly plan directs all earnings from those businesses to BTT purchases and burns. It plans to publish transaction details and on-chain records on a dedicated website page around the middle of the first month after each quarter.

On Oct. 17, BitTorrent also published a new white paper outlining a three-part infrastructure plan. It describes the BitTorrent main network as a layer for peer-to-peer content delivery, BTTInferGrid as a decentralized GPU computing network, and BTTC as a system for cross-chain connections, Layer 2 scaling and settlement.

The white paper assigns BTT roles in resource payments, network fees, node rewards, staking and governance. BitTorrent’s plan brings its content-distribution and computing services together with blockchain-based settlement under one token economy.