- Within the following month, deBridge plans to launch its governance token, DBR, on the Solana blockchain.
- The allocation of deBridge governance tokens will be determined by a snapshot taken on July 23 of users’ prior fees and cash exchanged.
- Protocol modifications will be put to a vote by DBR holders, and staking functionality will be added.
Service for cross-chain transfers According to the project’s marketing chief, deBridge said on Wednesday that its governance token, DBR, will list on the Solana blockchain in less than a month. CoinDesk was informed of this development.
Launch of the deBridge Governance Token on Solana
The deBridge governance token distribution will take into account the amount of money paid in fees and moved through the protocol since April, as well as the activity levels of users over the previous few months. On July 23 at 21:00 UTC, a snapshot was taken for the purpose of allocating tokens.
An AMM DEX and a bridge aggregator are combined in the cross-chain protocol DeBridge to enable the smooth and infinite flow of assets and data between many chains, from tokens to NFTs.
Future Plans Incorporate Voting and Staking Capabilities
In addition to giving users more control over deBridge’s development, the new governance token will facilitate cross-chain transactions.
This implies that holders of DBRs will have voting rights over protocol advancements and tactics. Staking functionalities are in the early stages of development. This means that users can earn incentives only by locking up their deBridge governance tokens.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
