Today, deBridge made a groundbreaking announcement about the launch of its governance token, $DBR. This marks a significant milestone in the journey towards deeper decentralization within the DeFi realm. Established in 2021, deBridge has swiftly risen to become a prominent DeFi bridge on a global scale, facilitating the transfer of $2.35 billion for 385,000 users with impeccable security measures and uninterrupted service.
Introducing $DBR: The Key to Unlocking deBridge’s Full Potential
The unveiling of the DBR token is not just about introducing a new cryptocurrency; it symbolizes a commitment to empowering stakeholders within the deBridge ecosystem. This includes the team, partners, and the public. With the introduction of DBR, deBridge aims to shift towards a decentralized governance model, gradually transferring decision-making authority to a DAO. This strategic move is geared towards ensuring that governance power is distributed evenly, preventing any single entity from exerting undue influence without considering the broader impact on the community.
DBR, an ERC20 token built on the Solana blockchain, will have a total circulating supply of 10 billion tokens. Holders of the DBR token will have the opportunity to stake their coins, enabling them to participate in voting on protocol parameters and other critical decisions. The DAO will also be entrusted with managing the Project Treasury and Ecosystem Reserves, with its role expanding over time.
Upon activation of the delegated staking and slashing module, DBR token holders can stake their tokens to support the deBridge validators. By locking up DBR tokens, participants can mitigate potential risks such as validator unavailability, censorship, and malicious collusion.
Allocating 20% of the DBR token supply for the launch and community, deBridge is gearing up for an upcoming vote on the Jupiter LFG launchpad. The Jupiter community will decide whether deBridge will conduct its DBR token crowd sale on the Jupiter platform through a liquidity pool. If approved, deBridge will have three months to launch on LFG.
Furthermore, deBridge plans to allocate the remaining DBR tokens as follows: ecosystem support 26%, core contributors 20%, strategic partners 17%, deBridge Foundation 15%, and validators 2%. This staking distribution strategy is intended to foster the growth and development of the decentralized deBridge protocol, solidifying its position in the DeFi landscape.
Tags: DeFi