Drift, a Solana-based decentralized change protocol for buying and selling crypto perpetual futures, is ready to launch and airdrop its “governance” token, DRIFT.
The DRIFT token could have a complete provide of 1 billion, with 10% or 100 million tokens set to be distributed via an airdrop, Drift mentioned Tuesday. The 100 million tokens might be airdropped to 180,000 of Drift’s customers based mostly on their exercise on the platform.
“Token era occasion date and airdrop declare date might be introduced later,” Drift co-founder Cindy Leow advised The Block, including that the launch is predicted within the coming weeks.
Drift has taken “a number of” snapshots over the previous three years and has performed “complete exercise evaluation” for the token airdrop.
Multi-branch DAO
After the token launch, Drift mentioned it’ll transfer in the direction of a multi-branch DAO, consisting of a Realms DAO for common protocol growth, a Safety Council for governing protocol upgrades, and a Futarchy DAO for funding technical grants.
The Drift DAO Basis will facilitate the coordination of choices and initiatives from the token holders and the DAO.
Drift launched in 2021 as one of many first DeFi initiatives on Solana. Since then, it has facilitated a cumulative buying and selling quantity of over $20 billion and at the moment has a complete worth locked of over $250 million.
All DRIFT tokens might be distributed over 5 years, with a majority (over 50%) being allotted to the group. The breakdown of the token allocation is 53% for group and ecosystem; 25% for protocol growth and 22% strategic members.
Leow mentioned that each Drift’s crew members and enterprise capital buyers are topic to a vesting interval ranging between 24 to 36 months.
Final week, Solana DEX Zeta Markets additionally introduced that it’s going to launch its token and conduct an airdrop of 100 million Z tokens.
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