deBridge Unveils $DBR Token, Paving the Way for DeFi Decentralization
In a significant stride towards deeper decentralization in the DeFi realm, deBridge has announced the launch of its governance token, $DBR. Founded in 2021, deBridge has swiftly emerged as a leading DeFi bridge, facilitating the transfer of a staggering $2.35 billion for over 385,000 users, all while ensuring impeccable security and uninterrupted service.
Introducing $DBR: The Bridge that DeFi Deserves
Discover all you need to know about the deBridge token
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— deBridge (@deBridgeFinance)
May 21, 2024
DBR Token Empowers Stakeholders in the deBridge Ecosystem
The launch of the DBR token aligns with deBridge’s commitment to distributing the benefits of its platform among three key stakeholders: the team, partners, and the public. To achieve this, deBridge intends to gradually decentralize governance and transition decision-making authority to a DAO (Decentralized Autonomous Organization) over time. This strategic move aims to prevent any individual or entity from exerting undue influence over decisions, ensuring the greater good of society remains the top priority.
DBR: An ERC20 Token on the Solana Blockchain
DBR, an ERC20 token implemented on the Solana blockchain, will enter the market with a circulating supply of 10 billion tokens. Holders of DBR will have the ability to stake their coins and participate in voting on protocol parameters and other crucial decisions. Another pivotal aspect of the project is the role of the DAO in managing the Project Treasury and Ecosystem Reserves, which will only grow in significance as time progresses.
Mitigating Risks Through Delegated Staking and Slashing
Once the delegated staking and slashing module is activated, DBR token holders will be able to stake their tokens and contribute to deBridge validators. By locking up DBR, participants will help mitigate risks such as validator unavailability, censorship, and malicious collusion.
deBridge Dedicates 20% of DBR Supply to Launch and Community
The release of the DBR token coincides with an imminent vote on the Jupiter LFG launchpad. The Jupiter community will decide whether deBridge should conduct its DBR token crowd sale on the Jupiter base through a liquidity pool. If approved, deBridge will have three months to launch on LFG.
Furthermore, deBridge plans to invest 20% of the DBR supply in the launch and community, resulting in an initial total circulating supply of 1.8 billion DBR tokens. The remaining token distribution is as follows: ecosystem support 26%, core contributors 20%, strategic partners 17%, deBridge Foundation 15%, and validators 2%. This staking approach is strategically designed to facilitate the continual evolution and expansion of the decentralized deBridge protocol, further solidifying its position in the competitive DeFi landscape.
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