ORBITER ONE GOVERNANCE
Orbiter One's governance model centers around Intergalactic Whiskers Brigade NFTs and ORBIT tokens, creating a balanced and community-focused system that encourages active participation and continuous development.
The ORBIT token, currently without a release date or a formal token distribution plan, is set to play a significant role in our protocol's governance once launched. The token generation event (TGE) will commence following the conclusion of our governance NFT distribution period.
Whiskers NFTs and ORB Token
The ORB tokens, specifically set aside for community utilization, streamline the minting of governance NFTs, known as the Intergalactic Whiskers Brigade, without directly granting protocol rights. These tokens' deflationary feature motivates early users to participate in lending/borrowing activities, offering ORB tokens as incentives. A 10% tax on ORB sales is reserved for burning, encouraging participation in initiatives like the FunORB Lottery and Whiskers NFT minting.
Intergalactic Whiskers Brigade NFTs, central to Orbiter One’s governance, hold voting rights equivalent to 1000 future ORBIT tokens. These NFTs are minted using 1000 ORB tokens. The Whiskers collection includes 10,000 NFTs: 9,000 are available for community minting, 500 are dedicated to strategic partnerships and community initiatives, and the remaining 500 are reserved for the Orbiter Labs team.
In situations where the supply of ORB tokens falls short, the decision to halt the minting process, adjust the ORB price, or transition the mint cost to GLMR, lies with the NFT holders. Consequently, all GLMR will be distributed to Whiskers NFT stakers.
Pre-ORBIT TGE, Whiskers NFT holders have the opportunity to earn ORB tokens, 70% of the protocol revenue, and promotional rewards.
Post-ORBIT Token Launch
Once the ORBIT tokens launch, they will offer additional benefits to Whiskers holders through airdrops and staking. The protocol fee distribution will be re-adjusted to provide 10% for Whiskers stakers and 60% for ORBIT stakers. This adjustment is a testament to our commitment to early adopters and proactive community members.
The groundwork for Whiskers staking will be laid in the coming week. Following this, by the third week of July, we will usher in the opportunity for DAO participation, reinforcing our commitment to decentralization and community governance.
This document is intended to provide a comprehensive understanding of the governance model of Orbiter One. It underlines our community-centric approach and dedication to fostering a sustainable and fair ecosystem.