Drift Protocol Announces End of Trader Points Program as it Prepares for $DRFT Airdrop

Drift Protocol, a popular Solana-based perpetual swaps exchange, has concluded its Trader Points Program. Lasting for the planned 12 weeks, the program was a resounding success, rewarding traders with 24 million points distributed over its duration. Drift is now turning its attention to the highly anticipated airdrop of its governance token, $DRFT.

As initially announced, The Trader Points Program lasted 12 weeks and incentivized trading activity on the platform. The Trader Points Program demonstrably spurred trading activity. Cumulative trading volume on the platform skyrocketed from $5.1 billion to a staggering $22 billion. Weekly trading volume also saw impressive growth, reaching peaks of $2.28 billion. This surge in activity was further reflected in the number of weekly active users, which more than doubled to reach a high of 42,000.

Drift plans to airdrop 100 million $DRFT tokens to community members. Trader Points holders will be rewarded based on their accumulated points during the program. Additionally, Drift will reveal "OG points" for users who have traded on the platform since its inception until January 22nd. These early supporters will also be included in the airdrop.

Arthur Hayes Joins as Strategic Advisor

In a major development, Drift Protocol has onboarded Arthur Hayes, the renowned founder of Bitmex, as a strategic advisor. Hayes' vast experience in the crypto derivatives space will be invaluable as Drift aims to solidify its position as a leading decentralized exchange.

New Drift Trader Program

To continue fostering community engagement, Drift has simultaneously launched the Drift Trader Program (effective April 18th, 2024). This ongoing initiative again focuses on trading volume but aims to give participants a greater voice in the protocol's governance and future development.