Solana exchange Drift confirms 100m token airdrop

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Solana-powered decentralized trade Drift shared plans to roll out its governance token alongside a 100 million token airdrop. 

The governance token will permit holders to vote on future protocol selections coordinated by the Drift Basis and proposed by group contributors. An April 16 announcement stated 180,000 customers would obtain 10% of DRIFT’s 1 billion complete provide primarily based on interactions with the Solana (SOL) platform since its launch in 2021.

Proponents contemplated over extra airdrop particulars resulting from an X put up from the Solana perpetual futures platform, teasing a reveal on April 17. Nonetheless, the crew has not disclosed a particular distribution date however stated the eligibility standards can be launched quickly. 

The protocol is certainly one of many tasks giving free tokens to early supporters in a so-called ‘airdrop season’. Jupiter, a fast-rising SOL DEX, additionally launched its JUP coin for customers in January after launching three years in the past.

Three-tier Drift DAO

Along with an airdrop and governance token launch, the DEX confirmed is a multi-branch decentralized autonomous group (DAO) system aimed toward democratizing operations. 

The Realms DAO will probably be tasked with protocol growth, safety council elections, proposing key adjustments, and guaranteeing the platform is protected for customers’ property. In response to DefiLlama, the trade has amassed over $20 billion in quantity and $248 million in complete worth locked. 

Solana exchange Drift confirms 100m token airdrop - 1
Drift TVL | Supply: DefiLlama

Secondly, specialists elected by the Realms DAO will work inside a Safety Council DAO targeted on finetuning on-chain parameters wanted for easy execution. The group may also deal with protocol upgrades.

A Futarchy DAO will allocate developer grants and distribution funds to ecosystem tasks because the Solana DEX appears to bootstrap innovation throughout its group. 

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