Solana's Drift Protocol Unveils DRIFT Token and Massive 100M Token Airdrop

Drift Protocol, a leading decentralized exchange specializing in perpetual futures on Solana, has announced the upcoming launch of its DAO and native governance token, DRIFT. A core aspect of this initiative is the airdrop of 10% of all DRIFT tokens to existing users, rewarding their historical contributions to the platform's growth and development.

Drift Trader Points Program Update

Drift is simultaneously concluding its popular Trader Points program. Launched on January 22nd, this program has rewarded traders and market makers with weekly distributions totaling 2 million points. To incentivize continued platform usage, all accumulated Drift Trader Points will convert to DRIFT tokens upon the launch of the airdrop.

Tokenomics and Distribution

The DRIFT token will have a total supply of 1 billion tokens distributed over a five-year period. The majority of tokens (over 50%) are allocated to the Drift community through initiatives like:

Airdrop: 10% reserved for existing Drift users, recognizing their historical contributions.

Trading Rewards: Substantial allocation to incentivize active users on the platform.

Ecosystem Development: Funding for tools, resources, and public awareness campaigns.

Drift Foundation and DAO Structure

Drift plans to adopt a unique, multi-branch DAO structure to distribute governance responsibilities. The Realms DAO will oversee the overall development of the protocol and elect the Security Council. The Security Council will focus on managing risk parameters, approving upgrades to the protocol, and adding new markets. Finally, the Futarchy DAO will be tasked with allocating grants to fund projects within the Drift ecosystem.

Drift launched in 2021 as one of the first DeFi projects on Solana. Since then, it has facilitated a cumulative trading volume of over $20 billion and currently has a total value locked of over $350 million. It also boasts a community of more than 175,000 traders, underscoring the platform's significant growth and popularity within the Solana ecosystem.