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.
Cross-chain bridge protocol Orbiter Finance is preparing to airdrop its governance token, OBT, to users on Jan. 20. The token generation event will coincide with Donald Trump’s swearing-in as the 47th President of the United States.
Orbiter announced the upcoming launch of its native token, revealing that OBT will go live on the same day as Trump’s inauguration. The token is designed to reward early supporters of the protocol and incentivize cross-chain token transactions.
Like many ERC-20 tokens, OBT will debut with staking and governance capabilities. The total supply of 10 billion OBT 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.
Orbiter Finance has allocated 40% of OBT’s total supply for community airdrops. According to details shared by the team via X, 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.
Founded in 2021, Orbiter Finance aims to facilitate fast and secure token transfers between EVM-compatible blockchains. The protocol currently supports seven chains, including Ethereum, BNB Chain, Avalanche (AVAX), Arbitrum, Optimism (OP), Gnosis Chain, and Fantom (FTM).
According to the project, Orbiter has processed over 35 million transactions with a volume of $28 billion from over 4.3 million users. The cross-chain bridge protocol recently raised $6.5 million in a seed funding round led by IOSG Ventures.
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