deBridge Unveils $DBR with Airdrop to 491,000 Wallets
The token represents an important step towards decentralization. It empowers token holders to make key decisions regarding the governance of the protocol.
DeBridge has announced the launch of its token, $DBR. The token was airdropped to approximately half a million users on the Solana network. Recipients have the option to claim 50% of the tokens at the token-generating event (TGE) and the remaining 50% six months later, or they can claim 80% at TGE with a 20% penalty.
The size of the airdrop depends on the amount of bridging volume a user has generated; the larger the bridging volume, the larger the airdrop. Users on X (formerly Twitter) have reported receiving amounts ranging from several dollars to several thousand dollars. According to some reports, the airdrop is four times the fees users have paid to bridge through the platform.
The DeBridge project offers bridging functionality, cross-chain trading, and cross-chain message transfer between multiple blockchains. Its main volumes come from Ethereum to Solana transfers. Over the last 30 days, the platform has generated over $360 million in bridging volume and collected around $424,000 in fees, according to statistics on the website. Currently, it serves approximately 1,700 users daily, placing DeBridge among the top 10 bridging projects in the crypto space.
From a fee perspective, DeBridge charges relatively high fees compared to its competitors. However, these fees do not discourage users. In fact, DeBridge stands out as a leading platform in terms of revenue generation from these fees. It has established itself as one of the most secure bridges in the space, with no breaches throughout its history. This strong track record is a key reason why people continue to use it and pay high fees.
The project’s latest innovation, DeBridge Hooks, allows users to attach arbitrary on-chain actions to orders, which are executed upon fulfillment. For example, users can place a cross-chain order to buy an asset and immediately distribute it across a set of addresses. This functionality enables dApps to build more complex cross-chain functionalities across different blockchains.
From a utility standpoint, the newly issued token currently offers limited functionality, primarily for protocol governance. DeBridge governance will manage the treasury, ecosystem reserves, and help shape the project’s development direction. The team also plans to introduce staking functionalities for the token, although this feature is still in development.
Since its launch, the token has been listed on multiple centralized and decentralized exchanges, generating over $100 million in trading volume. Notably, the project’s market cap is around $60 million, with a fully diluted valuation exceeding $300 million. This marks a promising start, with the token trading steadily since its debut.
Notably, more than half of the airdrop allocation has not been claimed yet. If you have previously used DeBridge and have not yet claimed your tokens, now is a good time to do so.
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