Cross-chain bridge Orbiter Finance has unveiled tokenomics details ahead of an airdrop scheduled for January 20.
Introducing $OBT — Orbiter Finance’s token.
TGE on Jan 20, 2025. Learn more below. pic.twitter.com/biVIQxnkjz
— Orbiter Finance ? (@Orbiter_Finance) January 17, 2025
OBT is an ERC-20 governance token. The launch will take place on Ethereum and the L2 networks Arbitrum and Base.
Tokenomics highlights
The total supply will be 10 billion tokens; an initial 2.8 billion OBT (28%) will be distributed.
Token Info$OBT — ERC-20 governance and utility token of the protocol.
With $OBT, we can acheive an omni-chain future to embrace web3.0 mass adoption.
Check your eligibility and claim on: https://t.co/I6Fizw4GEf pic.twitter.com/wmluKuegv6
— Orbiter Finance ? (@Orbiter_Finance) January 17, 2025
On-chain governance will open in February. Staking is planned for the second quarter.
Around 40% of all OBT is reserved for the community. A further 20% is earmarked for ecosystem development; 2.5% of that will unlock at the token-generation event (TGE).
15% will go to the Orbiter team and contributors; 10% is intended for seed and Series A venture investors.
The remaining 15% will be allocated to the Orbiter Foundation to pursue the “all chains — one hub” concept. Of that, 3.5% becomes available immediately after TGE, with the balance vesting over 23 months.
Of the 40% community allocation, 22% will be distributed in the first airdrop phase. To claim OBT, users had to have used the Orbiter protocol for at least two months since December 2021 and hold at least 40 O-Points — points for cross-chain activity. The snapshot was taken on January 16.
Tokens will also go to Discord community moderators, holders of the Ace and Expert non-fungible tokens, and winners of project-organised offline activities. A second snapshot for NFT holders will be taken on January 19.
Launched in 2021, the platform has been used by 4.3 million market participants and has processed more than $28 billion in transactions.
About a year ago, Orbiter Finance announced the launch of Orbiter Rollup. The layer-2 network is based on zero-knowledge proofs.