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  • Claims for the DRIFT governance token are now live!

Claims for the DRIFT governance token are now live!

Claim Window: May 16, 2024 at 12pm UTC - August 16, 2024 at 6pm UTC

Author

Drift Protocol
May 16, 2024

Key Info:

  • Claim Window: May 16, 2024 at 12pm UTC - August 16, 2024 at 6pm UTC

  • Official contract address: DriFtupJYLTosbwoN8koMbEYSx54aFAVLddWsbksjwg7

  • Claim Page: https://drift.foundation/

About the DRIFT Governance Token

Launching DRIFT marks a significant step forward in decentralizing Drift, acknowledging loyal Drifters, and empowering the community with a voice in the protocol's development.

12% of the tokens, amounting to 120 million tokens, will be distributed to eligible Drifters based on their activity on the platform.

Launch Airdrop Details

  • Total Airdrop Supply: 12%

  • Total Tokens for Airdrop: 120,000,000

More information about DRIFT and governance can be found here.

Bonus Allocation Mechanism

Historically, airdrop claims have caused network congestion, resulting in a suboptimal user experience as thousands of users and bots rush to claim.

To provide the best experience and further recognize loyal Drifters, a unique bonus mechanism has been implemented. All eligible Drifters have two components to their airdrop:

  • An initial allocation

  • A bonus allocation

The initial allocation is available at launch, and the bonus unlocks linearly over 6 hours. Unlocking starts immediately at launch and stops the moment you claim your allocation.

Unlocking Your Full Bonus

By waiting the full 6 hours, Drifters can double the number of tokens they can claim. If you claim before the full 6 hours has elapsed, the locked bonus tokens are forfeited.

Bonuses fully unlock at 6pm UTC (2pm EST).

What you can do with DRIFT

You can use your DRIFT across the Solana DeFi ecosystem:

  • Deposit DRIFT into Drift Protocol

  • Earn yield on your DRIFT by staking in Kamino’s Liquidity Vaults (JitoSOL pool)

  • Earn yield on your DRIFT by depositing into one of Meteora’s DLMM pools

What’s Next

The next step for the Drift Foundation is spinning up governance. Drift has implemented a novel multi-branch governance structure to more effectively govern the protocol. Here is a high level of each of the governance branches:

  • Realms DAO: Robust governance for major decisions

  • Security Council: Operational efficiency

  • Futarchy DAO: Efficient capital allocation

You can learn more about governance here.

DRIFT will be central to the governance process and directing the future of Drift. More information will be released soon.