Orbiter Finance, the cross-chain bridge protocol, is planning to distribute its governance token, OBT, to users on January 20th, which happens to be the same day as a historical inauguration – that of former U.S. President Donald Trump.
On the same day as Donald Trump’s inauguration, the Orbiter platform is set to launch its indigenous token, OBT. This move aims to recognize and reward early supporters, while also encouraging cross-chain token transactions by offering incentives.
Similar to numerous ERC-20 tokens, OBT is set to introduce staking and governance features at its inception. Initially, a total of 10 billion OBT tokens will be launched on the Ethereum network (ETH). Later on, further releases are planned for Ethereum’s scaling networks like Arbitrum (ARB) and possibly Base.
40% of Overall Token Supply (OTS) has been reserved for community airdrops. As per the team’s communication through X, out of this allocated amount, about 22% will be given to eligible users initially, while another 22% is their share. The remaining 3% will be distributed evenly over a period of six months.
In order to be eligible for the airdrop, users need to have engaged with Orbiter’s cross-chain system consistently for at least 60 days from December 2021 onwards. Furthermore, 15% of the entire OBT supply is reserved for the Orbiter team, project developers, and select beneficiaries, such as Discord moderators who are on the whitelist and holders of non-fungible tokens.
Established in 2021, Orbiter Finance functions as a bridge for transferring tokens across EVM-compatible blockchain networks. So far, the platform has handled approximately 35 million transactions totaling around $28 billion in value, serving over 4.3 million users worldwide.
Introducing $OBT – Orbiter Finance’s token.
TGE on Jan 20, 2025. Learn more below.
— Orbiter Finance 🛸 (@Orbiter_Finance) January 17, 2025
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2025-01-17 22:42