deBridge Foundation established, DBR Season 1 Airdrop Checker open for query

Today, the deBridge Foundation has officially been established and has defined its mission to expand, strengthen, and accelerate the rise of the deBridge ecosystem, while promoting the construction of a Decentralized Finance (DeFi) internet with the necessary liquidity.

As a first step, the foundation has launched the DBR inspector, which allows community members to preview the DBR Token generated by the deBridge Points activity of Season 1 in advance through this tool.

About the deBridge Foundation

The deBridge Foundation will help develop and strengthen the protocol and ecosystem through a series of initiatives, including funding and long-term incentive programs. In addition, the foundation will play a key role in promoting the Decentralization process.

The deBridge Foundation will be responsible for seeking benefits for 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 towards further decentralization governance.

Shortly thereafter, DBR holder will be able to vote on governance proposals and propose ideas to promote the development and growth of the deBridge ecosystem.

Community and Launch - Season 1 DBR Distribution

In the development process of deBridge, the project has intentionally raised enough funds to launch the protocol before the start of revenue inflow. The goal of this strategy is to ensure a balanced alignment between the core participating groups in future governance:

• Core Contributors
• Strategic partners and validators
• Community

Each group has made an equal contribution to our common success. To maintain this long-term balance, the Token allocation is carefully designed, with similar shares for each group in governance, and will be gradually unlocked 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 released the tokenomics information of the deBridge protocolToken (DBR) as we move towards further decentralization. To help understand the complexity of tokenomics, we emphasize some important parameters here.

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

According to the published Token economic model, the community and the launch portion occupy the largest share in all initial TGE unlocks (10% or 1 billion DBRs of the total supply), aiming to meet all the needs of DBR launch.

• 2% (200 million DBR) - LFGVault: This part will be used for LFGVault to initiate on-chain transactions for DBR. This will be an exclusive event, and only active deBridge users and some Jupiter community members are eligible to participate (any 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 Reward: Will be allocated as a reward to Jupiter DAO to recognize its important role in driving the LFG process and promoting the rise and development of the deBridge ecosystem.
• 1% (100 million DBR) - Meteora Dynamic Pool: will be used for the Meteora Dynamic Pool to ensure smooth Liquidity on-chain for DBR from the start.
• 6% (600 million DBR) - deBridge Points Season 1 holder: The remaining unlocked Tokens will be distributed to the Season 1 Points holder, which is the first and largest distribution. Tokens will be distributed proportionally based on the accumulated Points of each Address at the time of the Season 1 Snapshot announcement.

DBR Qualification

In the first season of the points program, users, integrated partners, and community members collectively accumulated 1.5 billion points, helping to spread the concept of Decentralized Finance Liquidity on the 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 everyone’s contribution to collective success. Every Address with points is guiding and shaping our technology, helping to bring our products into Decentralized Finance, and ultimately giving us the momentum to continue moving forward.

The first season Snapshot has been successfully completed on July 23, 2024, 21:00 UTC, and users have begun to accumulate points for the second season of deBridge.

Qualification Checker

The DBR Token Distribution Qualification Checker is now online. We invite all esteemed users to connect their Wallet and check the distribution status of the first season on the deBridge Foundation website. Please follow for more information on DBR collection, and we will notify you as soon as the function is enabled.

The loyal deBridge users who interact with the protocol on 10 different days, as well as the top 10% JUP stakers in the Jupiter community, will also be notified of their eligibility to participate in the DBR launch on LFG (even if they were not participants in the first season allocation).

Click here to check your DBR eligibility.

We have also released a public distribution document that reflects all the involved Addresses, their designated Token quantities, 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 above mechanism. If you find any discrepancies, please feel free to contact us.

Season 1 Point System DBR Distribution Plan: Top 10% DBR holder

In the first season distribution, the top 10% of Addresses own about 76% of all Tokens. To ensure consistency for these Addresses in the long term, we have devised a special distribution plan for this group of users:

• 50% of their DBR will be available for redemption at launch, and the remaining portion will be available for redemption within 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 Allocation Checker; more information about when DBR distribution will begin will be provided when the launch is ready.

In general, all users will be able to claim their DBR within 48 hours after the closure of LFG Vault, when the Token starts trading on DEX and CEX.

With the rapid rise of Liquidity in Decentralized Finance on the internet, now is the best time to take the next important step towards community ownership. As a community-driven project, it is crucial to ensure that all data and computations are validated - if you suspect any inconsistencies, please raise questions or concerns.

The launch of DBR is coming at the right time.

LFG Vault

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

LFG Vault will sell DBR Tokens at a price of 2.5 billion USD FDV (0.025 USD per Token) with a total supply of 2% (200,000,000 tokens), capped at 5 million USD USDC. All eligible users will have a maximum of 24 hours to deposit USDC into the LFG Vault (with a wallet limit of 25,000 USD) to purchase DBR at a price of 0.025 USD.

Qualifications

Special Smart Contract verification will only allow specific qualified Address lists to participate, providing opportunities for loyal deBridge users and selected Jupiter users to participate in and support the ecosystem. Each qualified Address will be granted a special encryption signature, which needs to be passed to the Smart Contract.

1. On at least 10 different days (as of the date of the 1st season Snapshot), there are 28,029 active deBridge users interacting with the deBridge protocol. A total of 28,029 addresses meet the criteria.
2. Welcome all JUP pledgers who are in the top 10% to participate in the launch of LFG.

Token allocation and vesting

The DBR Tokens obtained through LFG Vault will be distributed in two stages: 50% will be distributed when the Token is launched (approximately 48 hours after the Vault is opened) and the remaining 50% will be distributed after six months of launch.

1% of DBR Liquidity will be provided to LFG Vault, and another 1% will be distributed to LFG participants six months later. When LFG Vault is closed, it will hold up to $5 million USDC, of which $3 million will be paired with 0.5% of the total supply of DBR and provided to Meteora’s dynamic pool. Meteora’s Liquidity Provider (LP) position and the remaining USDC Liquidity (up to $2 million) will be held in the Foundation’s multisignature wallet.

The token claim and trading of the first season points will start approximately 48 hours after the launch of LFG, ensuring that everyone can obtain tokens equally. LFG Vault mode will operate proportionally, meaning that tokens will be distributed proportionally and any excess USDC will be refunded to participants.

If the LFG Vault does not reach its limit, the undistributed Tokens will be returned to the Foundation. We have designed a fair, Liquidity-strong and balanced launch, and we appreciate the valuable support provided by the Jupiter team throughout the process.

For more information, please refer to the article of LFG Vault