deBridge DBR token launch: valuation range and airdrop value per point
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deBridge is the sixth-largest bridge at $410M monthly volume with $657K revenue in 30 days. He sees a $200M to $500M FDV as realistic and estimates the airdrop at $0.0018 per point, about $25M over 1.4B points.
Key claims
$410M volume and $657K revenue in 30 days
Realistic FDV $200M-$500M, bull case $500M
1 point worth about $0.0018 at $250M FDV
🚨 $DBR Token is Coming Soon 🚨
Over the course of the past month, @deBridgeFinance has been the 6th largest bridge by volume.
It is also the leading bridge by fees generated across all timeframes.
What actually is DeBridge?
What can we expect from the $DBR launch?
TLDR on what you need to know. 👇
@deBridgeFinance is a cross-chain messaging protocol that powers an internet of liquidity where assets and information move across chains in real-time.
Without the bottlenecks and risks of liquidity pools, deBridge can power all type of cross-chain interactions with deep liquidity, tight spreads, and guaranteed rates.
The validation of cross-chain transactions is performed by a network of independent validators who are elected by and work for deBridge governance.
DeBridge's infra can be used to build a variety of applications and builders can leverage the battle-tested @deBridgeFinance infra to enable secure and efficient multichain functionality.
To move assets across chains, @deBridgeFinance has built the "deBridge Liquidity Network" (DLN), which uses a 0-TVL cross-chain trading infrastructure to facilitate high-performance cross-chain exchange.
Instead of using liquidity pools, the DLN executes all trades asynchronously through a self-organized liquidity network powered by solvers that seamlessly execute cross-chain intents.
This provides a fast cross-chain experience with lower time to finality than traditional bridging solutions.
DeSwap, the first cross-chain DEX built on DLN is the @deBridgeFinance flagship product and what most of you probably know it for today.
With the market-leading UX, it is definitely an interesting product.
However, we've talked enough about the tech.
Let's talk token. 🪂👇
$DBR is planned to launch on LFG Launchpad on @JupiterExchange at the end of August. 🚀
✦ Type: Launch Pool
☞ LFG Vault selling 2% (200M $DBR) at a $250M FDV ($0.025 per token), capped at $5M USDC.
☞ Eligibility: 10 days of interactions up to July 23rd (28K addresses) + LFG active users (criteria TBA).
☞ Vesting: 50% available at TGE, 50% in 6 months. If eligible, you can purchase $DBR at a discount with a maximum deposit of $25K within 24 hours.
The 2% for LFG come out of a 20% community & launch allocation in the tokenomics, which also includes:
☞ Genesis community airdrop: Distributed to users and projects based on the snapshot of the Season 1 deBridge points program.
☞ Future distributions that will be performed through the upcoming seasons of points campaigns
The exact percentages for each Community & Launch sub-parts will be announced soon as the airdrop checker is expected to be released in the next few days or weeks.
Season 1 already ended and season 2 is already in progress.
The total supply of 10B tokens will be distributed according to the above pie chart.
1.8B tokens will be crculating upon TGE with:
☞ 10% from Community & Launch (airdrop)
☞ 3% from Ecosystem
☞ 5% from Foundation
Please do not confuse the airdrop with the $DBR launch. You do NOT have to buy your airdrop allocation.
☞ Airdrop Eligibility = DeBridge Points*
☞ $DBR Pre-Sale Eligibility = 10 days of interactions
* ) more later in this post
Just a few days ago, @deBridgeFinance also launched the X account @deBridgeFdn, which dropped a teaser on the token.
The foundation will likely manage the treasury and steward ecosystem development through incentive programs, grants, etc.
This means launch is likely very close.
So, should you be excited about $DBR?
@deBridgeFinance (DeSwap) has processed > $410M in volume in the past month alone, which makes it the sixth largest bridge by volume according to data by @DefiLlama.
This has translated into $657K in revenues over the past 30 days, making @deBridgeFinance the strongest revenue-generating protocol in the bridging sector.
Overall, @deBridgeFinance looks interesting to me as a protocol.
The strong revenue generation indicates potential for sustainable value accrual models that also benefit token holders.
Personally, I also like the seamless UX and think the PMF of these kinds of solutions has already been proven.
Stargate as the largest bridge in the market by volume, did $1.3B last month.
In terms of FDV, $STG currently sits at $314M.
$ACX (Across Protocol) on the other hand sits at $357M.
With DeBridge's superior functionality (seamless cross-chain trades), and if the volume/revenue is kept up beyond points farming, I can see $DBR at a similar $200M-$500M a FDV too.
Considering the versatility of DeBridge's tech and that it is probably best described as a generic messaging solution rather than a traditional bridge, one might even argue that the valuation should be higher.
Looking at recently launched interop tokens like $ZRO, $W or $OMNI, the market seems to agree.
Especially with the nowadays commonly low float, these tokens all have FDVs in the billons of dollars.
However, I don't believe that @deBridgeFinance will be valued at the levels of the "big three", which includes $ZRO, $W and $AXL, right away.
These players are much more established already and have dozens of app integrations with messaging volumes far greater than what @deBridgeFinance does today.
18% of $DBR will be circulating upon TGE. @deBridgeFinance hence has a slightly higher float than many other new tokens, but it's still low.
Something like $100M circ. mcap and $500M FDV looks like a realistic bull case to me.
However, I'm not sure how well people understand what DeBridge actually is (more than a traditional bridge) and why they should buy the token.
Also, as we've seen with $AVAIL or $RAGE recently, the market is still tough for new tokens.
🪂 Okay cool, but what about my airdrop?
As mentioned before, the season 1 checker is expected to drop shortly.
However, for users, the allocation will likely not be life-changing.
If we assume 10% airdrop in total at $250M FDV, that amounts to $25M.
With 500k unique users, and 1.4B points in season 1, let's assume the full 10% are airdropped to point holders.
That would mean $25M in $DBR being airdropped.
Divided by the 1.4B points, that means:
1 point = 0.0018$
In the bull case scenario I outlined before:
1 point = 0.036$
The range in between is probably where we will land.
Since there might be different criteria, multipliers, etc. as well though, it's hard to speculate further around the exact details.
But looking at my point bags, it probably won't be huge for me.
⚠️ NFA anon, this is only speculation. DYOR.
What about you anon? 👀
Bullish $DBR or don't rly care? 🪂
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