TL;DR
- Orbiter Finance has announced the launch of its native governance and staking token, $OBT, marking a major step towards decentralization.
- The Token Generation Event (TGE) for $OBT is scheduled for January 20, 2025, with 28% of the total supply of 10 billion tokens to be in circulation.
- The $OBT token will serve as both a governance and utility token within the Orbiter Finance ecosystem, with allocations for community incentives.
Orbiter Finance, a leading ZK-tech-based interoperability blockchain infrastructure, has announced the launch of its native governance and staking token, $OBT. This significant development marks a major step towards decentralization for the protocol, which has already garnered a user base of 4.3 million and processed over $28 billion in transactions.
Introducing $OBT – Orbiter Finance's token.
TGE on Jan 20, 2025. Learn more below. pic.twitter.com/biVIQxnkjz
— Orbiter Finance 🛸 (@Orbiter_Finance) January 17, 2025
Token Generation Event (TGE) Details
The Token Generation Event (TGE) for $OBT is scheduled for January 20, 2025. At the TGE, 28% of the total supply of 10 billion tokens will be in circulation. The $OBT token will support multiple networks, including Ethereum, Arbitrum, and Base, enhancing its utility and accessibility across the blockchain ecosystem.
Token Allocation and Utility
The $OBT token is designed to serve as both a governance and utility token within the Orbiter Finance ecosystem. The token allocation is as follows:
- 40% Community: Distributed through community incentives and airdrops to drive user growth and ecosystem activity.
- 20% Ecosystem & Growth: Dedicated to ecosystem building and market expansion.
- 15% Orbiter Foundation: Used to achieve the “All Chains One Hub” vision.
- 15% Team & Contributors: Incentivizes long-term commitment to the project’s development.
- 10% Investors: Allocated to investors from series seed and A rounds.
Airdrop Eligibility and Anti-Sybil Measures
To qualify for the airdrop, users must have used the Orbiter protocol for at least two months since December 2021 and must have accumulated at least 40 OPoints. The airdrop will be distributed in phases, with specific snapshots taken to determine eligibility. Anti-Sybil measures have been implemented to prevent bots from exploiting the airdrop.
Orbiter Finance’s introduction of $OBT is a significant milestone in its journey towards decentralization and enhanced interoperability. With the TGE date set and a robust tokenomics plan in place, $OBT is poised to play a crucial role in the future of the Orbiter Finance ecosystem.
The company’s commitment to innovation and user-centric solutions continues to position it as a formidable player in the blockchain space. As the TGE date approaches, the anticipation within the community is palpable, and the launch of $OBT is expected to further solidify Orbiter Finance’s standing in the rapidly evolving world of decentralized finance.
