deBridge Alpha Vault, $DBR Airdrop Claim & Token Listing - Here’s What You Need to Know

One of the year’s most hotly anticipated TGEs (Token Generation Events) is finally upon us. After collecting bridging funds and collecting points all year, deBridge users and supporters eagerly await the official launch of the platform’s native token, $DBR.

Before airdrop claims begin and $DBR is listed on the open market, deBridge supporters were given one last chance to secure a position in $DBR. How did the Solana community react to the opportunity?

$DBR Alpha Vault Attracts Over 1,700 Unique Participants

The deBridge Alpha Vault joins other notable Solana ecosystem projects like Sanctum and UpRock in leveraging Jupiter’s LFG launchpad. Offering a small discount on the token’s listing price, the Alpha Vault aims to give long-term supporters a better entry in exchange for locking up part of their allocation in a token vesting schedule.

deBridge’s Alpha Vault offered 200M $DBR tokens at a fixed price of $0.025 per $DBR. Based on deBridge’s official tokenomics, the Alpha Vault gives $DBR a pre-launch FCV (Fully Diluted Valuation) of $250M.

Alpha Vault deposits were capped at $5M USDC, with any overflow being distributed proportionally based on individual bids. Additionally, 50% of all purchased $DBR is locked for 6 months, suggesting that investors who participate in the Alpha Vault are bullish on $DBR performance in the mid-long term.

According to deBridge tokenomics, $DBR will be listed on the Meteora DEX at $0.03, effectively giving Alpha Vault depositors a 16.6% discount.

During the 24-hour sale period, over 1,717 unique participants deposited funds to the vault, purchasing $2.87M worth of $DBR tokens, representing 57% of the available pool. As per communication from the deBridge Foundation, $0.13M from the protocol-owned treasury will be used to bring the value of the liquidity pool up to $3M.

In an exclusive statement to SolanaFloor, the deBridge team asserted that the Alpha Vault's "unused tokens are returned to “Community & launch” part and will be distributed through future seasons of points campaign".

According to Flipside data, the majority of Alpha Vault contributors deposited between $100-$1000 USDC, with the average deposit across all contributors sitting at ~$1.2k.

What’s Next?

With the closure of the Alpha Vault, the deBridge now turns its undivided attention to the official claim and listing of $DBR on markets across the crypto industry. 

$DBR trading and airdrop claims are scheduled to go live at 08:00 AM UTC on October 17. Courtesy of deBridge’s ‘Claim-to-CEX’ function, which was enabled throughout September, some airdrop recipients will have their allocations automatically sent to their provided CEX account.

When trading opens, $DBR will be listed simultaneously on both decentalized markets, and centralized exchanges like ByBit, KuCoin, and Gate.io.

The wider Solana community has expressed excitement and enthusiasm ahead of the $DBR launch. 

Among the well-wishers, Jupiter co-founder Meow highlighted deBridge as “one of the top bridging solutions in the space”.

deBridge power users who are eligible to receive over 1855.5 $DBR tokens have also had their claims split, with 50% of their allocation being unlocked in six months time.

$DBR Priced at $0.028 in Pre-Market Trading

At press time, pre-market $DBR is exchanging hands on platforms like Drift Protocol, aevo, and Whales Market at around $0.028. Given the $0.03 listing price, pre-market traders can effectively purchase $DBR at a 6.6% discount.

However, pre-market trading is rarely indicative of true market value, given a small sample size of traders and low volumes. Over the last 24 hours, Whales Market has witnessed roughly $63k worth of trading volume on $DBR, while Drift Protocol has handled a mere $1.76k.

Read More on SolanaFloor

Solana is the home of crypto staking

83% of Circulating SOL is Staked, With Native Staking Leading the Way

What is Cross-Chain Bridging?