TL;DR
- deBridge launches its DBR governance token with a total supply of 10 billion.
- 20% of the total supply goes to airdrop and launch activities.
- DBR will allow holders to participate in the governance and strategic decisions of the protocol.
Cross-chain protocol deBridge has announced the launch of its governance token, DBR, with a total supply of 10 billion tokens.
This launch marks an important milestone for deBridge as it seeks to further decentralize its governance and give the community an active role in making key decisions.
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
Founded in April 2021 after winning the Chainlink Global Hackathon, deBridge has excelled in facilitating secure, high-performing transfers in the decentralized finance (DeFi) space, accumulating over $2.3 billion in transfers since its inception.
20% of the total DBR supply, equivalent to 2 billion tokens, has been allocated for community and launch activities.
This allocation includes an airdrop to the Genesis community, the specific details of which will be announced later, based on a future snapshot of the points program from deBridge’s first season and subsequent seasons.
Additionally, part of these tokens will be used for various launch activities, with the aim of incentivizing and rewarding community participation from the beginning.
The DBR distribution breakdown also includes 26% (2.6 billion tokens) allocated to the deBridge ecosystem, controlled by governance for activities that add value to the ecosystem, such as growing the community of developers and community organizations.
20% (2 billion tokens) is reserved for core contributors who have worked tirelessly in various areas such as engineering, infrastructure, business development, security and marketing, contributing significantly to the development of deBridge.
The deBridge Foundation will receive 15% of the total supply (1.5 billion tokens) to support the Foundation treasury and lead growth initiatives.
This foundation plays a crucial role in supporting the DAO, core contributors, strategic partners, and the community at large.
Strategic partners, including angels, founders and funds that have supported the platform since its inception, will receive 17% of the total supply (1.7 billion tokens), ensuring their continued commitment to long-term success.
Finally, 2% (200 million tokens) will go to validators as a reward for their contribution and a long-term incentive to continue their work in the ecosystem.
Governance and Community Engagement at deBridge
DBR holders will have the ability to actively participate in the governance of the protocol through the DAO (Decentralized Autonomous Organization).
By staking their tokens, they will be able to vote on strategic decisions, such as the deployment and updating of smart contracts, the election of active validators, and minimum consensus thresholds.
This governance structure will allow the community to manage the ecosystem treasury and reserves, taking on more and more responsibilities over time.
The transition process towards fully decentralized governance is a fundamental step for deBridge, which seeks to build a bridge that the DeFi community truly deserves.
As the governance framework matures, the DAO is expected to take on a broader and more significant role in decision-making, which will encourage greater participation and engagement from all stakeholders in the blockchain ecosystem.
