Drift Protocol, a decentralized exchange built on Solana, has unveiled its new governance token named DRIFT and initiated an airdrop distribution for its users. This incentive program lasts for three months, designed to boost engagement within the Drift Community. Of the total DRIFT tokens, approximately 10% or 100 million equivalents will be distributed through this airdrop to dedicated community members who have staked their tokens.
Introducing $DRIFT — the Drift Governance Token.
DRIFT is the governance token of Drift Protocol, the largest open-sourced perpetual futures exchange built on Solana.
— Drift Foundation (@DriftFDN) April 16, 2024
At The Drift Company, the power to make decisions will be given to token holders for approving listing of new tokens and implementing software upgrades. Notable venture capitalists in the crypto industry, including Polychain Capital and Multicoin Capital, have invested heavily in the company, raising over $25 million since 2021.
The distribution plan of the DRIFT token recognizes token allocation to ecosystem development, protocol development, and venture capital backers. Drift will also expand operations out from location to a full crypto platform, providing access to many services and investing in the Solana system. The distribution also includes spot trading, unique financial tools, and features like trading bots and open-source interfaces.
- Drift Protocol Unveils Points Rewards Preceding Token Launch
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2024-04-17 02:12