deBridge Foundation is established, DBR Season 1 airdrop checker is open for query

Today, the deBridge Foundation was officially launched and established its mission to expand, strengthen and accelerate the growth of the deBridge ecosystem while promoting the construction of the liquid Internet that decentralized finance (DeFi) deserves.

As a first step, the Foundation launched the DBR Inspector, a tool that allows community members to preview the DBR tokens generated by the Season 1 deBridge Points activity.

About deBridge Foundation

The deBridge Foundation will help develop and grow the protocol and ecosystem through a number of initiatives, including grants and long-term incentive programs, and will play a key role in driving decentralization.

The deBridge Foundation will be obligated to pursue the interests of the entire DAO and its key participants, including core contributors, strategic partners, and the community. Governance will empower DBR holders to shape the future of the protocol, marking a strategic move to further decentralized governance.

Soon, DBR holders will be able to vote on governance proposals and propose ideas that will help the deBridge ecosystem grow and develop.

Community and Launch — Season 1 DBR Distribution

Throughout the deBridge development process, the project intentionally raised enough funds to launch the protocol before revenue began to flow in. The goal of this strategy was to ensure a balanced alignment between the following core groups of participants in future governance:

• Core Contributors

• Strategic Partners and Validators

• Community

Each group contributes equally to our shared success. To maintain this long-term balance, the token distribution has been thoughtfully designed so that each group has a similar share in governance, which will be unlocked gradually over the next 3.5 years.

The community is the main force driving the development of the deBridge ecosystem, and this group is the first to receive tokens and initiate ecosystem governance.

A few months ago, we published the token economics of the deBridge Protocol Token (DBR) as we move toward further decentralization. To help understand the complexity of token economics, we would like to highlight some important parameters here.

The total supply of DBR is 10 billion tokens, with an initial circulating supply of 1.8 billion (18%). The tokens will be issued on Solana in the form of SPL tokens:

According to the published token economics model, the community and launch tranche will receive the largest share of all initial TGE unlocks (10% of total supply or 1 billion DBR) and is designed to meet all needs for the DBR launch:

• 2% (200 million DBR) — LFGVault: This portion will be used for LFGVault to enable on-chain trading of DBR. This will be an exclusive event, only active deBridge users and some Jupiter community members are eligible to participate (all unused tokens will be returned and used for future distribution seasons). Learn more about the LFG Vault mechanism.

• 1% (100 million DBR) — Jupiter DAO LFG Rewards: will be allocated to Jupiter DAO as a reward for its important role in driving the LFG process and promoting the growth and development of the deBridge ecosystem.

• 1% (100 million DBR) — Meteora Dynamic Pool: Will be used for the Meteora Dynamic Pool to ensure DBR has smooth liquidity on-chain from launch.

• 6% (600 million DBR) — deBridge Points Season 1 Holders: All remaining unlocked tokens will be distributed to Season 1 Points holders, the first and largest distribution. Tokens will be distributed proportionally based on the number of Points accumulated by each address at the time the Season 1 snapshot is announced .

DBR Eligibility

In the first season of the points program, users, integration partners, and community members have accumulated 1.5 billion points, helping spread the idea of the DeFi liquidity internet. We believe that everyone active in the deBridge ecosystem has contributed to our mission and should be stakeholders in future governance, and points are a fair way to quantify everyones contribution to collective success. Every address with points is guiding and shaping our technology, helping to bring our products to DeFi, and ultimately giving us the motivation to keep moving forward.

The first season snapshot was successfully completed on July 23, 2024 at 21:00 UTC, and users have begun accumulating points for deBridge Season 2.

Eligibility Checker

The DBR token allocation eligibility checker is now live. We invite all our valued users to connect their wallets and check the first season allocation on the deBridge Foundation website. Please stay tuned for more information about DBR claiming and we will notify you in a timely manner once the feature is enabled.

Loyal deBridge users who interacted with the protocol on 10 different days, as well as the top 10% of JUP stakers in the Jupiter community, will also receive notifications informing them that they are eligible to participate in the DBR launch on LFG (even if they were not a participant in the Season 1 allocation).

Click here to check your DBR eligibility.

We have also published a public distribution file that reflects all addresses involved, their assigned token amounts, and detailed statistics on the points awarded to users for each type of activity. Anyone can verify the calculation of token balances based on the mechanism described above. If you find any discrepancies, please feel free to contact us.

Season 1 Points System DBR Distribution Plan: Top 10% DBR Holders

In the first quarter distribution, the top 10% of addresses owned about 76% of all tokens. To ensure consistency among these addresses over the long term, we created a special distribution plan for this group of users:

• 50% of their DBR will be available at launch, and the remainder will be available 6 months after the TGE (Token Generation Event). These users will see two designated allocation options in the drop-down menu.

The remaining 90% of all users will receive 100% of DBR at launch.

Please note that this announcement only applies to the release of the Token Distribution Checker; more information on when DBR redemption will begin will be provided when the launch is ready.

Typically, all users will be able to claim their DBR within 48 hours of the closure of the LFG Vault, when the tokens start trading on DEX and CEX.

With the DeFi internet of liquidity growing rapidly, now is the perfect time to take the next big step toward community ownership. As a community-led project, it is important to ensure all data and calculations are verified – if you believe there are any inconsistencies, please raise questions or concerns.

The launch of DBR comes at an opportune time.

LFG Vault

The LFG Vault is designed to reward the most active deBridge ecosystem participants and the Jupiter community. The LFG launched by DBR through the launch pool will be a very exclusive event, only available to certain addresses active in the deBridge or Jupiter ecosystems.

LFG Vault will sell 2% of the total supply of DBR tokens (200,000,000) at a price of $250 million FDV ($0.025 per token), capped at $5 million USDC. All eligible users will have up to 24 hours to deposit USDC into the LFG Vault ($25,000 per wallet capped) to purchase DBR at $0.025.

qualifications

Special smart contract validation will only allow a specific list of eligible addresses to participate, providing loyal deBridge users and select Jupiter users with the opportunity to participate and support the ecosystem. Each eligible address will be granted a special cryptographic signature that needs to be passed to the smart contract.

1. Active deBridge users who have interacted with the deBridge protocol on at least 10 different days (as of the date of the Season 1 snapshot). There are 28,029 qualifying addresses in total.

2. The top 10% of all JUP stakers are welcome to participate in the launch of LFG.

Token Allocation and Vesting

DBR tokens earned through the LFG Vault will be distributed in two phases: 50% will be distributed when the tokens are tradable at launch (approximately 48 hours after the Vault is opened), and the other 50% will be distributed six months after launch.

1% of DBR liquidity will be provided to the LFG Vault, and another 1% will be distributed to LFG participants after six months. When the LFG Vault closes, it will hold up to $5 million in USDC, of which $3 million will be paired with 0.5% of the total DBR supply and provided to Meteoras dynamic pool. Meteoras liquidity provision (LP) position and the remaining USDC liquidity (up to $2 million) will be held in the foundations multi-signature wallet.

Token claiming and trading of Season 1 credits will begin approximately 48 hours after LFG launches, ensuring equal access to tokens for all. The LFG Vault model will operate on a pro rata basis, meaning tokens will be distributed pro rata and any excess USDC will be returned to participants.

If the LFG Vault does not reach its cap, undistributed tokens will be returned to the Foundation. We have designed a fair, liquid, and balanced launch and would like to thank the Jupiter team for their invaluable support throughout the process.

For more information, see LFG Vault’s article

This article is sourced from the internet: deBridge Foundation is established, DBR Season 1 airdrop checker is open for query

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