deBridge Unveils DBR Governance Token with 20% Community Allocation
deBridge to Transition to DAO Governance with New DBR Token
- Author: Sheldon Cooper
- Published: May 21, 2024 at 12:49
- Updated: May 21, 2024 at 21:00
deBridge, a cross-chain interoperability protocol, has unveiled its governance token, DBR. According to official documents released by deBridge, the protocol has facilitated over $2.35 billion in cross-chain transactions for 385,000 unique users since its 2022 launch.
The protocol, which reports a thriving ecosystem generating approximately $100,000 in daily fees, is transitioning control to a decentralized autonomous organization (DAO). This move aims to ensure long-term sustainability and impartiality in decision-making.
The DBR token distribution model, as outlined in deBridge's official documents, is designed to maintain a balance between core contributors, strategic partners, and the community, with each group contributing equally to the protocol's success. The total DBR token supply is 10 billion.
Community Engagement and Token Allocation
A significant 20% of the token supply, amounting to 2 billion DBR, is allocated to the deBridge community, comprising users, developers, and projects utilizing the infrastructure. This allocation includes a genesis community airdrop, launch-related activities, and future distributions through points campaigns. Notably, deBridge is a candidate for the Jupiter launchpad, with the third round of voting for projects to launch their tokens on the LFG launchpad commencing on May 22nd.
Last month, deBridge launched a points-based loyalty program to reward its community. As indicated in the tokenomics documents released by deBridge, most of the $DBR Community allocation will likely be airdropped to reward Point holders.
Governance
$DBR token holders will be able to stake their tokens to participate in DAO governance, influencing protocol parameters, validator elections, chain integrations, treasury management, and ecosystem reserves.
Jupiter Launchpad LFG voting for the third round of candidates kicks off on May 22nd, and deBridge looks like a strong candidate based on protocol metrics such as volume and revenue generation.