deBridge Airdrop Distributes DBR Coins to 491K Wallet

Bittime - Cross-chain crypto platform deBridge released their governance token, DBR, via airdrop this October 18. There are hundreds of thousands of wallets that accept these coins.

A total of 491,286 crypto wallets from the early adopter community and loyal members of the decentralized finance (DeFi) sector received automatic distribution of these tokens.

DBR Token Claim Options

DBR airdrop recipients are given several options in cashing out their tokens. They can cash in 50% of the tokens at the launch event (TGE), with the remaining 50% cashed out six months later. Alternatively, users can choose to cash out 80% directly to TGE, but with a 20% penalty.

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Airdrop is a mechanism for automatically distributing tokens to crypto wallets, usually based on interaction activity with a particular project or the achievement of certain criteria such as trading volume or number of transactions.

Initial Circulation and Trading of DBR Tokens on Solana

DBR tokens are issued on the Solana blockchain as SPL tokens, with an initial circulating quantity of 1.8 billion tokens and a maximum supply of up to 10 billion tokens. 

On launch day, the token started trading at $0.03 per DBR or the equivalent of around IDR 462 on the Meteora decentralized exchange, in the DBR/USDC trading pair. At this price, the total valuation of DBR in a fully deluded condition reaches $300 million (around Rp. 4.62 trillion).

Token distribution for deBridge's strategic partners and key contributors will be locked for six months after the TGE. After that, the vesting process begins with 20% of the tokens unlocked and the remainder released gradually every quarter for three years.

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DBR Token Staking and Governance Features

DBR token holders will have a say in the decision-making and future strategy of the deBridge protocol. Additionally, the project also plans to introduce a staking feature in the future, where users can lock their tokens to get a share of transaction fees.

Cross-network services like this allow users to transfer tokens between different blockchains, allowing funds to be leveraged on networks that did not initially support the asset.

deBridge Becomes a Mainstay of Various Blockchain Transactions

The deBridge platform has become a mainstay for transferring funds between blockchains such as Ethereum, Arbitrum, Solana, and Base. Since April 2023, more than $3.3 billion (around IDR 50.82 trillion) in transaction volume has been successfully bridged between the Solana and Ethereum networks alone, generating millions of dollars in revenue for the platform.

The launch of the DBR token and this large airdrop is an important step for deBridge in strengthening their cross-blockchain ecosystem, while inviting the community to more actively participate in future protocol development.

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