EKUBO token
The EKUBO token is an L1 Ethereum token bridged to Starknet, developed for the purpose of decentralizing ownership of Ekubo Protocol.
Initial distribution
Section titled “Initial distribution”The total supply of the EKUBO token is 10 million (10,000,000), split into three equal parts of 3,333,333 tokens. The three distribution categories at the token generation event were:
- Airdrop: one third of the total supply was distributed to users via airdrop
- Team: one third of the total supply is held by Ekubo, Inc.
- Sale: one third of the total supply was sold by the DAO for ETH, USDC, and STRK using Ekubo’s DCA orders
Airdrop
Section titled “Airdrop”Each user’s allocation was calculated from their share of total leaderboard points, with two adjustments: points were raised to an exponent (p^x) that depended on the user’s role in the ecosystem, and accounts with fewer than 1,000 points were excluded. As a result, users who concentrated their activity in fewer accounts received slightly more EKUBO.
- Moderators had a boost of
1.01 - Active translators received a boost of
1.001 - Everyone else received a boost of
1.0001
The airdrop contract is deployed at the address 0x04bfacd0fcf70f444815de9150008fd12b5fb6721562707e502ce71ccb327d88 (Starkscan, Voyager). It uses the open-source airdrop contract found here. There is no deadline to claim the airdrop.
An airdrop can be claimed by using a block explorer to submit a transaction using data found in this spreadsheet:
A CSV containing the entirety of the merkle tree for the EKUBO airdrop
Claiming your airdrop
Section titled “Claiming your airdrop”You may claim your airdrop from the app, or use this guide to claim it directly from a block explorer.
Download the airdrop data CSV file
Section titled “Download the airdrop data CSV file”This CSV contains a list of all the accounts and allocation amounts that were included in the airdrop. Each row corrresponds to a single address’s claim in the airdrop.
Find your address in the CSV file
Section titled “Find your address in the CSV file”Extract the .csv from the .zip file, then open it in any text editor. Search for the line containing your address. If you cannot find it, remove any leading zeroes from your address and search again — if your address is 0x0000abcd, search for 0xabcd. If you still cannot find it, you did not receive an airdrop.
Copy the row into Voyager block explorer
Section titled “Copy the row into Voyager block explorer”The columns in the CSV are claimee, id, amount and proof from left to right. For the row containing your address, copy each column value into the block explorer. Remove the quotes and curly braces from the proof column data. Then connect your wallet and it should look something like this.
Click transact to claim!
Section titled “Click transact to claim!”When you click transact, the transaction should simulate successfully, and if you are transacting from the claimee address you should see an EKUBO balance increase from the simulation.
The DCA orders executed over 2 months, starting 5/24/24, 2:48 AM UTC and ending 7/23/24, 7:09 PM. The proceeds of the DCA order were owned by the Governor , a.k.a. the DAO.
The following pools were used: EKUBO/ETH 5%, EKUBO/STRK 5%, and EKUBO/USDC 5%.
Approximately 3,269,920 EKUBO was sold for 343.675 ETH, 1,204,770 USDC, and 1,549,920 STRK.
The company Ekubo, Inc., a service provider to the DAO, holds one-third of the total supply. There is no vesting schedule for these tokens. The team has come to an agreement with the DAO to hold these tokens indefinitely via governance proposal to fund the company’s provision of services to the DAO.
Value accrual
Section titled “Value accrual”As of August 2025, the DAO currently holds total ownership of Ekubo Protocol smart contracts, meaning it can upgrade the contracts on Starknet, and collect revenue on EVM and Starknet. Note there is no upgrade mechanism for EVM contracts.
It is the right and responsibility of the DAO to decide what to do with the revenue. The DAO may direct protocol revenue towards EKUBO buybacks, and then may further direct that EKUBO to active participants in the protocol, such as governance stakers or liquidity providers.
As of August 2025, the position of Ekubo, Inc. is that the revenue should be directed towards growth of the protocol, and we will vote accordingly until the protocol achieves sustainable revenue, i.e. the revenue earned by the protocol exceeds the total costs to keep the protocol running.
The team allocation of EKUBO tokens is entirely held by Ekubo, Inc., and the company is committed to maintaining its share of Ekubo Protocol. The end-goal is for Ekubo, Inc. to be sustained by protocol revenue that is directed towards token holders. This aligns the equity holders with the interests of the protocol. The vision is further described in the alignment proposal.
Governance contracts
Section titled “Governance contracts”The governance contract addresses can be found in the governance contracts reference.
You can learn more about how the governance contracts work here.
Disclaimer
Section titled “Disclaimer”The EKUBO token serves only to decentralize the ownership role of the on-chain instance of the core Ekubo Protocol.
Ekubo, Inc., is not in any way obligated to provide service, maintenance, or development for Ekubo Protocol and related tools or services except as explicitly agreed via governance proposal.
The governance infrastructure is necessary security infrastructure: it protects users of Ekubo Protocol from malicious upgrades by requiring a decentralized and interested majority of stakeholders to come to consensus on the validity and safety of the changes.