- Drift protocol has announced its governance token.
- The token’s launch will be marked with a massive airdrop.
- The airdrop will be for select users.
Solana -based decentralized exchange protocol Drift has made a significant move, announcing the launch of its governance token DRIFT. This milestone will be celebrated with a massive DRIFT airdrop to existing users.
Cindy Leow and David Lu founded Drift in 2021 as one of the foundational projects on the Solana blockchain. Since then, the protocol has grown to serve over 180,000 traders, accumulating a total trading volume of over $20 billion.
DRIFT Governance Token
According to an announcement dated April 16, Drift’s governance token aims to empower users by granting them “tangible ownership” of the protocol and a “significant voice” in guiding the project’s development trajectory through the Drift DAO.
Sponsored
The Drift DAO will serve as a multi-structure autonomous organization encompassing three branches. These include the Realms DAO for Protocol development and Security Council elections, the Security Council for Protocol upgrades and parameterization, and the Futarchy DAO for Funds ecosystem projects and developer grants.
“Decentralization matters. By distributing power and decision-making across the ecosystem instead of centralizing it, Drift ensures sustainable, healthy growth alongside its most active participants,” the statement read.As part of the launch, the protocol will airdrop 100 million DRIFT tokens to “loyal Drift users, including long-standing traders (OGs) and participants in the Trader Points program.” The launch airdrop will constitute 10% of DRFIT’s 1 billion supply.
Per the statement, DRIFT’s total supply will be distributed over five years, with over 50% allocated to the community. The protocol said it would later release more details on the airdrop’s eligibility criteria.
Sponsored
Read about Solana’s plan to “alleviate” the ongoing network congestion:
Solana Releases Update to “Alleviate the Ongoing Congestion”
Stay updated on how the Solana Foundation is decentralizing the SOL blockchain:
How is The Solana Foundation Decentralizing the SOL Blockchain?
