Solana Surprise: DEX Drift To Airdrop 100 Million Tokens To Lucky Users

• Drift, a decentralized exchange (DEX) protocol built on Solana, is preparing to introduce its token, distributing 100 million DRIFT tokens through an airdrop to users.
• According to Drift co-founder Cindy Leow, the token launch and airdrop are anticipated to take place in the upcoming weeks.

Drift, a decentralized exchange (DEX) protocol on Solana specializing in crypto perpetual futures trading, is preparing to launch and airdrop its governance token, DRIFT.

Drift announced on Tuesday that the DRIFT token will have a total supply of 1 billion, with 10% or 100 million tokens allocated for distribution through an airdrop. These 100 million tokens will be airdropped to 180,000 of Drift’s users based on their activity levels on the platform.

“Token generation event date and airdrop claim date will be announced later,” Drift co-founder Cindy Leow told CoinNerd, adding that the launch is expected in the coming weeks.

Over the past three years, Drift has conducted “multiple” snapshots and performed “comprehensive activity analysis” in preparation for the token airdrop.

Multi-branch DAO

Following the token launch, Drift plans to transition towards a multi-branch DAO model, comprising a Realms DAO for general protocol development, a Security Council for overseeing protocol upgrades, and a Futarchy DAO for financing technical grants.

The Drift DAO Foundation will manage the coordination of decisions and initiatives among token holders and the DAO.

Drift emerged in 2021 as one of Solana’s pioneering DeFi projects. Since then, it has facilitated a cumulative trading volume exceeding $20 billion and currently boasts a total value locked surpassing $250 million.

The distribution of all DRIFT tokens will occur over a five-year period, with over 50% allocated to the community. The breakdown of token allocation includes 53% for community and ecosystem development, 25% for protocol advancement, and 22% for strategic participants.

Drift’s team members and venture capital investors are subject to vesting periods ranging from 24 to 36 months, as revealed by Leow.

Recently, Solana-based DEX Zeta Markets announced its token launch and airdrop of 100 million Z tokens.

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