The BitTorrent (BTT) smart contract upgrade and token uplift will issue new BTT tokens at an exchange ratio of 1 BTT (old token) = 1,000 BTT (new token).

BitTorrent Chain (BTTC) is a heterogeneous cross-chain interoperability protocol that uses a Proof-of-Stake (PoS) mechanism and leverages sidechains to enable scalability for smart contracts. It can now interoperate with Ethereum, TRON, and Binance Smart Chain (BSC), and will support more chains in the future.

The BTT tokens will be utilized within the BitTorrent Chain ecosystem. Key use cases include:
becoming a validator on the BTTC network;
staking BTTC to earn rewards;
participating in BTTC community governance;
paying gas fees as the native token of BTTC.

Related link: https://bttc.zendesk.com/hc/en-us/articles/4409343014937