Key Takeaways
Drift, a Solana-based DEX, is preparing to airdrop 100 million DRIFT tokens, transitioning to a community-led governance model;
The airdrop rewards existing users with 10% of DRIFT’s total supply and allocates 43% for ecosystem growth through trading rewards and liquidity provision;
Venture capitalists and angel investors will receive 22% of the tokens, with another 25% dedicated to protocol development.
Drift, a decentralized exchange (DEX) on the Solana network, is gearing up to airdrop 100 million DRIFT governance tokens.
The airdrop is part of Drift’s effort to transition to a more community-driven governance model, where token holders can influence key operational decisions, such as software upgrades and token listings.
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According to Drift’s announcement, the airdrop is scheduled for the coming weeks and follows a three-month points program that successfully attracted a diverse group of participants, including traders, borrowers, lenders, and airdrop farmers.
10% of DRIFT’s total supply will be distributed to existing Drift users, recognizing their support of the platform.
The majority of the tokens, 43%, are allocated towards ecosystem development to increase the active Drift user base through trading rewards, future airdrops, and rewards for providing liquidity.
Venture capital firms such as Polychain Capital and Multicoin Capital, as well as individual angel investors including Solana founders Anatoly Yakovenko and Raj Gokal, who have collectively invested over $25 million in the platform since 2021, will receive a 22% allocation of the total DRIFT tokens.
Another 25% is reserved for protocol development to compensate Drift’s contributors.
Drift offers several trading options, including perpetuals trading that allows up to 20x leverage, and spot trading. The platform is also introducing a feature for betting on tokens that are not yet launched, although the DRIFT token itself will be exempt from this due to legal restrictions.
The upcoming DRIFT token airdrop represents a significant step towards democratizing governance and boosting user involvement in Drift.
In other news, the Solana blockchain has also recently seen a $850 million airdrop of Wormhole’s governance token, W.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
