The EVM-compatible cross-chain protocol deBridge has announced the launch of its governance token, DBR, and revealed details of the forthcoming asset distribution.
1/ Introducing $DBR
The next step in becoming the bridge that DeFi deserves ?
Everything you need to know about the deBridge token ? pic.twitter.com/NcGsLUBDp8
— deBridge (@deBridgeFinance) May 21, 2024
The total issuance of coins under the Solana SPL standard will be 10 billion, with an initial market offering of 1.8 billion.
As part of the anticipated airdrop, 20% or 2 billion DBR will be distributed among the community. The development team will receive an equal share, while 17% is allocated to strategic partners.
7/ DBR distribution breakdown:
✅ Community & Launch: 20%
✅ Core Contributors: 20%
✅ Strategic Partners: 17%
✅ Ecosystem: 26%
✅ deBridge Foundation: 15%
✅ Validators: 2% pic.twitter.com/lSVjv75q0Z— deBridge (@deBridgeFinance) May 21, 2024
Support for the ecosystem is set to receive 26% of the issuance. The deBridge Foundation will be allocated 15% of the total DBR supply.
According to the announcement, the rules for conducting the airdrop will be disclosed later. However, the distribution will be based on a snapshot of the “first season and subsequent ones.” Activity related to the token launch will also be considered.
As reported by The Block, in early April, the deBridge team retrospectively distributed points among more than 200,000 active users. The program included partner projects such as Jupiter, Solflare, Zeta Markets, Banana Gun, and Birdeye, which integrated the cross-chain bridge.
In February, the token launch platform Jupiter LFG announced future coins, among which DBR was listed.
“Token holders will be able to stake them to participate in DAO voting and decision-making on the protocol’s strategic parameters. The governance of deBridge will manage the treasury, ecosystem reserves, and have the ability to influence future smart contract updates,” the developers described the functionality of DBR.
deBridge was launched on the Solana blockchain in June 2023.