Solana’s decentralized exchange, Drift Protocol, is gearing up to distribute airdrops on May 16 at 15:00 Turkey time. The platform has gained recognition by being added to Coinbase’s listing roadmap, paving the way for immediate listing on the exchange post-launch.
The introduction of the new token follows a successful three-month points program that has attracted traders, borrowers, lenders, and airdrop farmers to Drift. As one of the leading venues for continuous trading in Solana’s DeFi ecosystem, the platform aims to reward long-term users with a significant portion of the 100 million tokens allocated for the airdrop.
Of the total airdrop amount, 12% or 120 million tokens will be distributed to eligible Drift users based on their activities on the platform. Holders of the token will have voting rights on essential decisions such as new token listings and software updates.
Venture supporters, including prominent cryptocurrency venture capital firms like Polychain Capital and Multicoin Capital, have invested over million in Drift Protocol since 2021, securing a 22% share of the DRIFT tokens. Additionally, 43% of the tokens will be allocated for ecosystem development initiatives, while 25% will go towards protocol development payments for contributors.
As the platform gears up for the airdrop, users are reminded that this is not investment advice. Stay tuned for further updates on Drift Protocol’s airdrop distribution and its impact on the growing Solana DeFi ecosystem.
