Cross-chain Ethereum-based protocol Orbiter Finance announced it will be sponsoring Donald Trump’s inauguration speech, alongside the airdrop of its new governance token.
According to data from Etherscan, Orbiter Finance has already made its first donation of 10 ETH (ETH), worth around $33,607, to the smart contract wallet for Trump’s token, World Liberty Financial. The donation was made through Orbiter’s OmniChain interoperability protocol.
Donald Trump is scheduled to be sworn in as president on Monday, Jan. 20 inside the Capitol rotunda around mid-day.
In a recent post, the protocol also vowed to keep sending donations throughout Donald Trump’s presidency after he takes office.
Orbiter is not the only crypto firm to sponsor Trump’s inauguration. According to the Politico, major crypto companies including Ripple, Coinbase, Kraken and Robinhood have donated at least $10 million into the Trump inaugural fund to welcome the new pro-crypto president-elect into the oval office.
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Prior to the donation announcement, Orbiter declared that it would release its governance token, OBT, on the day of Trump’s inauguration.
The protocol has allocated around 40% of the token’s total supply for community airdrops. As previously reported by crypto.news 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.
In order to be eligible for the airdrop, users must have actively interacted with Orbiter’s cross-chain protocol for at least 60 days since December 2021.
Coincidentally, ahead of his inauguration, Trump had launched his very own meme coin $TRUMP (TRUMP) on Jan. 18. The $TRUMP token has accumulated a market cap of more than $10 billion within 24 hours of its launch.
Former Coinbase CTO, Balaji Srinivasan, had urged the President-elect to distribute some $TRUMP tokens via airdrop to every U.S. citizen through a mailing list. He believes a massive airdrop could sway Democrats into supporting Trump’s presidency as well as his pro-crypto policies.
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