Binance crypto community outraged over BitTorrent IPO
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Answer Binance crypto community outraged over BitTorrent IPO
Despite all the excitement about Binance hosting a number of IPOs in the coming period, the first of which is BitTorrent, the first IPO left the crypto community unhappy.
Many individuals were unable to subscribe to the BitTorrent subscription
The Tron team and the Binance platform made remarkable efforts to build excitement around the first offering, which the project intends to offer 54 billion digital currencies on the Binance platform.
It is worth noting that the Binance platform via Binance Launchpad holds all the exclusive rights to carry out the BitTorrent IPO and the cryptocurrency (BTT) process, but things did not go well according to the comments of the crypto community.
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Although the BitTorrent IPO was successful and the requested amount was raised in less than 15 minutes, many users encountered problems and hurdles to contribute to the BitTorrent ICO (BTT) process. In this context, the CEO of Binance said:
“No matter what setup we do, problems arose. We did not expect this number of shareholders and did not prepare for it.” . added: “I apologize for the bad experience and thanks for your support! We will work to fix this bug next time.”
It is worth noting that the problem that most users encountered is related to the “Confirm User Agreement” button, as it did not work properly. The CEO of Binance stated that they did most of the testing of the platform prior to the BitTorrent IPO that the flaw was not detected early enough and fixed enough.”
And some questions arose from the cryptocurrency community, that if the “Confirm User Agreement” button did not work with users, then how were all the cryptocurrencies designated for the BitTorrent subscription sold and to whom?
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While this flaw is a purely technical issue, the crypto community shared their dissatisfaction with Binance and their inability to obtain any BitTorrent coins and tokens (BTT).
A number of Twitter users indicated that only 339 people were able to purchase all the coins designated for the BitTorrent subscription.
With the negative feedback from the crypto community about the mismanagement of the BitTorrent subscription, the Tron team (the owner of the BitTorrent project) decided to distribute a free coin (airdrop) to people who tried to contribute to the BitTorrent subscription but were not successful in buying. It was not revealed how many BTTs will be allocated to individuals.
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