A decentralized crypto exchange (DEX) based on Solana — Drift — has announced the launch of the DRIFT governance token.
Introducing $DRIFT — the Drift Governance Token.
DRIFT is the governance token of Drift Protocol, the largest open-sourced perpetual futures exchange built on Solana. pic.twitter.com/BGTBANpThH
The total offer will be 1 billion DRIFT. Of these, 10% or 100 million are intended for airdrop.
About 180,000 DEX users apply for the distribution, depending on their activity on the platform:
"This airdrop will be distributed among loyal Drift users, including veteran traders and participants in the Trader Points program."
The developers will announce the launch date and the brand later. Detailed criteria for obtaining coins will also be published in a short time.
All tokens will be distributed within five years, while the majority (53%) will be transferred to the community. 25% will be spent on the development of the protocol and 22% on strategic cooperation.
After the launch of DRIFT, the team will restructure the platform under the format of a "multi-component" DAO, which will consist of the Realms DAO division for protocol development, the Security Council for update management and the Futarchy DAO for financing technical grants.
Launched in 2021, Drift became one of the first DeFi projects on Solana. Since then, the total trading volume on the exchange has exceeded $20 billion, and the total blocked value at the time of writing is more than $256 million.
Previously, the decentralized crypto derivatives exchange Zeta Markets, based on Solana, announced the airdrop of 100 million Z management tokens.
Recall that the STEPN team also announced the distribution of 100 million FSL bonus points, which are converted into a native token of the project after the completion of the airdrop.