Outside Source
Cross-chain bridge protocol Orbiter Finance plans to airdrop its governance token, OBT, to users on Jan. 20, coinciding with Donald Trump’s swearing-in.
Orbiter announced that its native token, OBT, will go live on the same day as Trump’s inauguration, rewarding early supporters and incentivizing cross-chain token transactions.
Like many ERC-20 tokens, OBT will debut with staking and governance capabilities. Its total supply of 10 billion tokens is set to launch on Ethereum (ETH), with additional issuances planned for ETH-based scaling networks such as Arbitrum (ARB) and Base shortly thereafter.
The project has allocated 40% of OBT’s total supply for community airdrops. Details shared by the team via X indicate that 22% of eligible users will receive an initial 22% of that allocation. The remaining 3% of the airdrop will be distributed monthly over six months.
To qualify for the airdrop, users must have actively interacted with Orbiter’s cross-chain protocol for at least 60 days since December 2021. Additionally, 15% of the total OBT supply has been set aside for the Orbiter team, project contributors, and select supporters, including whitelisted Discord moderators and non-fungible token holders.
Orbiter Finance, founded in 2021, aims to facilitate token transfers between EVM-compatible blockchains. The protocol has supported 35 million transactions with $28 billion in volume from over 4.3 million users.
This article first appeared at crypto.news
