On March 28th, 2022, Brinc.fi launched the largest airdrop campaign done over an Ethereum layer 2 network. This airdrop campaign is set to drop up to 1,200,000 gBRC tokens over time for users.
Brinc.fi has developed a disruptive stablecoin, $BRC, that increases in price. $BRC is deployed on Arbitrum – a layer 2 scaling solution for Ethereum that provides fast transactions and, most importantly, low gas fees.
In order to engage the DeFi community to participate in the Brinc.fi protocol, everyone who purchases at least 100 $DAI in $BRC will be eligible to get additional airdrops in the form of $gBRC. $gBRC is the governance token of the protocol and is currently trading on Sushiswap and can be used as a staking booster when paired with $BRC.
The campaign will run each month until the allotted reward cap is reached. Claiming rewards is extremely easy with a dedicated airdrop page. For more details and information on the airdrop, visit Brinc.fi’s Medium page.
About $BRC and the Brinc.fi Protocol
Stablecoins dominate the crypto trading market but the top 4 stablecoins that account for over USD170 billion in market cap are all USD-pegged and centralized. In its latest Financial Stability Report, the U.S. Federal Reserve ranked stablecoins among its top threats to U.S. financial stability over the next 12 to 18 months. The market is in need of a truly decentralized, non-USD pegged stablecoin.
The Brinc token protocol provides an alternative token economy that is empirically decentralized, backed by crypto assets, and holds real or “intrinsic” value. The $BRC token’s mission is to replace USD-pegged stablecoins with a decentralized token supply governed by smart contracts.
At the core of the Brinc.fi protocol is a bonding curve algorithm and smart contracts which provide for the continuous minting, burning, price and supply calculation. Every $BRC minted requires $DAI to be put into reserve which provides for on-chain reserve backing. The price of $BRC increases as each subsequent $BRC that is minted into supply follows an increasing price function.
