$ORB Launch and Season 1 Airdrop
GM Orbies,
We are delighted to announce the next major milestone for Orby — the listing of the $ORB token!
Orby Network was launched in February 2024, and since then has accumulated over $83 million (21k cdcETH) in Total Value Locked (TVL), with 23 million worth of $USC in circulation. Our vision for the next phase of growth is to drive further adoption of $USC by adding more accepted collateral and driving more partnerships. Another area of focus is creating more utility for our $ORB and $esORB token holders.
$ORB Tokenomics & Token Generation Event (TGE)
$ORB is the native token of Orby Network. It can be obtained either via purchase on a DEX (VVS), through our seasonal airdrop campaign or by converting your $esORB to $ORB.
- Ticker: $ORB
- Total Supply: 1,000,000,000
- TGE: 12 June 2024
- Listing partner: VVS Finance
*Do note that there will not be a IGO on VVS
Tokenomics Breakdown
Airdrop Campaign— 50,000,000 $ORB [5%]
- To be allocated across multiple seasons
- Given only to eligible participants of the Orby Airdrop Campaign
Community Incentives — 450,000,000 $ORB [20%]
- For community members to incentivise liquidity provision and staking on Orby (e.g. Stability Pool, Vault, Stability Fuel)
Team — 100,000,000 $ORB [10%]
- To incentivise Orby’s current & future team members
Marketing & Partnerships — 200,000,000 $ORB [20%]
- For future marketing and community initiatives
Ecosystem Reserve — 200,000,000 $ORB [20%]
- For network security and maintenance requirements
Liquidity Management— 250,000,000 $ORB [25%]
- To incentivise and deepen liquidity for $ORB and/or $USC on DEXes or other external protocols
End of Season 1 Airdrop Campaign
Season 1 of the Orby Airdrop Campaign will conclude with a snapshot on 7 June. Users will then be able to claim their $ORB rewards on 12 June. Instructions on how to claim your rewards will be shared on the day of the airdrop.
Snapshot date & time: 7 June, 8am UTC
Airdrop claims start date & time: 12 June 2024, 8am UTC
Eligibility: any participant who earned the minimum number of points required before the snapshot
$ORB allocation to Season 1: 1%
Claiming of Season 1 $ORB rewards will be staggered across several months. This means that you will only be able to claim part of your allocated amount within the first month. After 1 month, we will unlock more of your token allocation for claiming. Each claiming window last for 1 month.
Do ensure that you claim your rewards within the 1 month claiming window. Any unclaimed rewards will be forfeited and sent to our treasury to be distributed in future seasons.
For more details on Season 1, check out our previous article: https://orbynetwork.medium.com/orby-airdrop-campaign-is-here-b45d515b30a4
$ORB utility: staking
Similar to $esORB, $ORB holders can stake their tokens in the Vault to unlock protocol revenue, $esORB emissions and Stability Fuel. $ORB stakers will receive the same amount of Vault rewards as $esORB stakers.
To recap, Stability fuel is a multiplier that is applied to the Stability Pool. If you have deposited $USC in the Stability Pool and are already earning $esORB emissions, you will get a further boost on these emissions with Stability Fuel.
For more information, you can refer back to our previous article on $ORB and $esORB: https://orbynetwork.medium.com/introducing-orbys-protocol-tokens-orb-and-esorb-c7108a064eb4
ORBY NETWORK PROTOCOL, OUR SERVICES AND THE USC TOKEN ARE NOT OFFERED TO PERSONS OR ENTITIES WHO RESIDE IN, ARE CITIZENS OF, ARE INCORPORATED IN, OR HAVE A REGISTERED OFFICE IN THE UNITED STATES OF AMERICA OR ANY RESTRICTED TERRITORY, AS DEFINED BELOW (ANY SUCH PERSON OR ENTITY FROM THE UNITED STATES OF AMERICAN OR A RESTRICTED TERRITORY, A “RESTRICTED PERSON”). WE DO NOT MAKE EXCEPTIONS; THEREFORE, IF YOU ARE A RESTRICTED PERSON, THEN DO NOT ATTEMPT TO USE OR USE THE INTERFACE. USE OF A VIRTUAL PRIVATE NETWORK (“VPN”) TO CIRCUMVENT THE RESTRICTIONS SET FORTH HEREIN IS PROHIBITED. BY ACCESSING, USING THE SITE OR INTERFACE, OR PARTICIPATING IN THE AIRDROP YOU ACCEPT AND AGREE TO BE BOUND BY AND TO COMPLY WITH THESE TERMS. PLEASE DO NOT ACCESS, USE THE SITE OR INTERFACE, OR PARTICIPATE IN THE AIRDROP IF YOU DO NOT AGREE WITH ANY OF THESE TERMS.
