Author
staff writer
In a move towards decentralization, the cross-chain interoperability protocol deBridge has unveiled its DBR governance token, signaling a significant shift in the protocol’s governance structure. The token, built on Solana, boasts a total supply of 10 billion tokens, intended to democratize decision-making power among community members.
DBR token holders will play a pivotal role in shaping the future of deBridge through active participation in DAO governance votes. These votes will cover a wide range of protocol parameters, including the election of validators, consensus thresholds, and the management of smart contract deployments and upgrades. Furthermore, the DAO will oversee the project’s treasury and ecosystem reserves, gradually assuming greater responsibilities over time.
Embracing Community Engagement
The unveiling of the DBR token comes on the heels of deBridge’s innovative points program, which rewarded over 200,000 users for their past loyalty and encouraged new users to explore the platform’s capabilities. Partner projects such as Jupiter and Solflare have already integrated the deBridge protocol, contributing to its growing ecosystem.
In a tweet posted on their official handle, deBridge expressed gratitude to its community, highlighting its pivotal role in the platform’s success.
“We set out in 2021 with the goal of transforming the way people do DeFi. Today, we’ve helped 385,000 users move $2.35 billion all over the DeFiverse, with zero security incidents or downtime since launch,” the tweet stated.
DBR token’s unveiling coincides with a pending vote on Jupiter’s LFG launchpad, where the Jupiter community will decide whether to host deBridge’s token sale via a Jupiter-based liquidity pool. If successful, deBridge will have three months to launch on LFG, further solidifying its presence in the DeFi space.
Token Distribution and Vision
deBridge’s token distribution strategy allocates 20% of the DBR supply to the launch and community, reflecting its commitment to inclusivity and community-driven governance. Another 20% is allocated to core contributors, 17% for strategic partnerships, 26% for ecosystem support, 15% for foundation stability, and 2% for validator incentives.
Photo: deBridge
With a circulating supply of 1.8 billion DBR tokens at launch, the project aims to foster a balanced ecosystem where stakeholders, including core contributors and strategic partners, have a voice in decision-making.
Transforming DeFi through Direct Liquidity Transfer
Direct liquidity transfer, as facilitated by deBridge, stands out from other alternatives such by offering enhanced security and efficiency in cross-chain transactions. Unlike traditional bridging methods, which involve locking assets on one chain to receive wrapped assets on another, direct liquidity transfer bypasses the need for asset locking altogether.
For instance, Wormhole suffered a significant security breach in February 2022, resulting in the loss of over $320 million worth of assets. This incident highlighted the risks associated with traditional bridging methods that involve asset locking.
In contrast, deBridge facilitates direct asset transfers between chains without the need for asset locking, reducing complexity and minimizing potential attack vectors. This makes it a safer alternative for users seeking efficient and secure cross-chain transactions. Despite facilitating $2.35 billion in assets bridged so far, deBridge is yet to suffer any major security breach.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Editor-in-Chief
Julia Sakovich
