Dolomite, a market protocol on Arbitrum, has revealed the details surrounding its upcoming airdrop of the DOLO token.
Dolomite, a market protocol on Arbitrum, has revealed the details surrounding its upcoming airdrop of the DOLO token. The protocol will allocate 20% of the total DOLO supply for airdrops, with specific distributions set aside for various user categories.
Notably, 9% of the tokens will be awarded to platform users, while 1% will go to community contributors, including security researchers and developers who have integrated with the platform.
As part of the airdrop initiative, the Minerals program will reward users who provide key assets such as USDC, ETH, and WBTC, with an additional 10% of the total airdrop dedicated to these contributions. The DOLO tokens will include both transferable and locked versions, with the latter categorized as veDOLO, which will remain locked for a period of two years. Users’ XP levels will influence the bonuses they receive during the airdrop.
The Token Generation Event (TGE) for DOLO is set to occur on Berachain following its mainnet launch. Initially, DOLO will be issued as an ERC-20 token on Berachain, utilizing a lock-and-mint model tied to the Ethereum Mainnet.
This method aims to enhance transparency and interoperability within the ecosystem. The initial supply of tokens will be securely locked on Ethereum Mainnet, with corresponding tokens minted on Berachain.
To maintain accurate supply tracking, any tokens bridged between networks will employ a burn-and-mint mechanism. Future cross-chain compatibility will be facilitated through Chainlink’s Cross-Chain Interoperability Protocol (CCIP), enabling integration with other layer-2 solutions and alternative layer-1 networks.
The airdrop will be based on a snapshot taken on Jan. 6, and any unclaimed rewards will revert to the DAO treasury after a six-month period following the TGE. Updated documentation is now available, detailing the final token distribution, vesting schedules, and design parameters.
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