- TRON CEO, Justin Sun, has announced staking feature on the DLive streaming platform for the BitTorrent Token (BTT).
- The feature will reward users who stake their BTTs with 25% of the daily donations and subscriptions made on DLive.
Justin Sun, TRON’s CEO, announced through his Twitter account a new BTT token staking feature on the DLive streaming platform. The announcement is part of an initiative that seeks to directly reward and encourage users of the platform. According to TRON, users of the feature will receive 25% of the daily earnings of DLive.
DLive is a streaming platform that was originally built on the Lino blockchain. As of December 2019, DLive became part of the BitTorrent and TRON ecosystem. The platform was created to directly reward content creators through a reward system. As part of its partnership with BitTorrent, DLive began using the BitTorrent File Sharing System (BTFS).
TRON CEO compares BTT staking to U.S. Treasury bonds
According to the announcement, the staking function on DLive is unique to this platform. BTT token holders who use the feature will receive their rewards the day after staking. Rewards will be calculated, according to DLive, based on the average price of the last 24 hours of the BTT token. To use the feature, users must have the TronLink browser extension installed. In addition, DLive used the following example to show the distribution of rewards:
If there is $10,000 worth of LEMON donated on DLive in one day, $2,500 worth of BTT token will be distributed to BTT Stakeholders in the next day.
TRON’s CEO said that “a billion BTTs have been staked”. Sun also compared the return of the staking feature to US Treasury bonds:
$BTT 14 days annual staking APR return on @OfficialDLive is 3655.32%. YES! It is not a mistake. 3655.32%! US treasury bonds 3 months return is 0.01%. The difference is 365532 times.
As reported by CNF, at the end of 2019 the crypto community was discussing a series of censorships made by YouTube to hundreds of channels about cryptocurrencies. Although the streaming giant restored the channels, the co-creator of the Ethereum, Vitalik Buterin, and other important members of the community called for a change. DLive was one of the platforms that was proposed as an alternative to Youtube. However, the problem has continued. YouTube continues to block channels on cryptocurrencies and the situation is still affecting many creators of related content. For DLive to become a viable alternative, its adoption must expand.
— Justin Sun (@justinsuntron) April 24, 2020