deBridge will conduct its TGE on October 17

ChainCatcher news, according to The Block, before the token generation event on Thursday, the liquidity bootstrapping program for the DBR governance token is being conducted through the Solana decentralized exchange aggregator Jupiter's LFG launchpad. The LFG vault will open until 16:00 Beijing time on October 16. Participants who have used the deBridge application for at least 10 days before the deadline of July 23, 2024, and those who staked at least 690 JUP tokens at the time of the snapshot will be eligible.

The deBridge token generation event is scheduled for 16:00 Beijing time on October 17, with a starting trading price of $0.03 per DBR—equating to a $300 million FDV. The team confirmed that tokens obtained through LFG will be distributed 50% immediately at TGE, with the remaining 50% distributed six months later.

Overall, the token distribution of deBridge will allocate 20% of the supply to its community, with a circulating supply of 1.8 billion DBR at launch. Of the remaining supply, 26% is allocated for ecosystem support, 20% for core contributors, 17% for strategic partners, 15% for the deBridge Foundation, and 2% for validators.