Key Points
Orbiter Finance, a cross-chain Ethereum-based protocol, has announced it will be sponsoring Donald Trump’s inauguration speech.
In addition, the firm plans an airdrop of its new governance token.
Donations and Other Sponsors
Etherscan data reveals that Orbiter Finance has already made its first donation of 10 ETH, equivalent to around $33,607, to the smart contract wallet for Trump’s token, World Liberty Financial.
This donation was made via Orbiter’s OmniChain interoperability protocol.
Donald Trump is set to be inaugurated as president on Monday, Jan. 20.
The ceremony will take place inside the Capitol rotunda at mid-day.
According to a recent post, Orbiter Finance has committed to continue sending donations throughout Donald Trump’s presidency.
However, Orbiter is not the only crypto firm to sponsor Trump’s inauguration.
Reportedly, major crypto companies including Ripple, Coinbase, Kraken and Robinhood have donated at least $10 million to the Trump inaugural fund.
These firms are welcoming the new pro-crypto president-elect into the oval office.
Before announcing the donation, Orbiter disclosed that it would release its governance token, OBT, on the day of Trump’s inauguration.
The protocol has set aside roughly 40% of the token’s total supply for community airdrops.
As reported earlier, 22% of eligible users will receive an initial 22% of that allocation.
The remaining 3% of the airdrop will then be distributed monthly over a period of six months.
To qualify for the airdrop, users must have actively interacted with Orbiter’s cross-chain protocol for at least 60 days since December 2021.
Interestingly, just before his inauguration, Trump launched his own meme coin $TRUMP (TRUMP) on Jan. 18.
The $TRUMP token has amassed a market cap of over $10 billion within 24 hours of its launch.
Balaji Srinivasan, former Coinbase CTO, has suggested that the President-elect distribute some $TRUMP tokens via airdrop to every U.S. citizen through a mailing list.
He is of the opinion that a large-scale airdrop could convince Democrats to support Trump’s presidency and his pro-crypto policies.
