PANews reported on January 17 that the Layer2 cross-chain protocol Orbiter Finance announced on the X platform that it will launch the OBT token, and the TGE will be held on January 20, 2025. OBT is the ERC-20 governance and utility token of the protocol, which will be launched on Ethereum, Arbitrum and Base, with a total supply of 10 billion, and a circulating supply of 2.8 billion (28%) at the time of TGE.

Regarding token distribution, the community allocation accounts for 40%, of which 22% will be distributed to Orbiter users as an initial airdrop, and 3% will be airdropped to eligible users every month for 6 months. The ecosystem and growth allocation accounts for 20%, of which 2.5% will be unlocked in the TGE. The Orbiter Foundation allocation accounts for 15%, of which 3.5% will be unlocked at the TGE, and the rest will be vested in monthly increments over 23 months. The team and contributors allocation accounts for 15%, and the investor allocation accounts for 10%. In addition, on-chain governance will be open in February 2025.