Solana DEX Drift Ready to Distribute 100 Million Tokens to Users, Here Are the Conditions

Bittime - Drift, a Solana-based decentralized exchange (DEX) platform focused on trading perpetual crypto futures, will launch its own governance token called DRIFT.

100 Million Solana DEX Drift Tokens Allocated Via Airdrop

The total supply of DRIFT tokens will reach 1 billion, with 10% or 100 million tokens allocated to be distributed via airdrop. 

This distribution will be made to 180,000 Drift users based on their level of activity on the platform. 

"The date for token creation and airdrop claims will be announced later," Drift co-founder Cindy Leow told The Block. She added that the token launch is predicted to take place in the next few weeks. 

Furthermore, Drift has taken “several” snapshots over the past three years and conducted a “full activity analysis” to determine airdrop token allocations.

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Multi-Branch DAO

Drift plans to switch to a multi-branch DAO model after its token launch. This model will be divided into several separate DAOs. 

These include the Realms DAO which focuses on general protocol development, the Security Council which is tasked with managing protocol improvements, and the Futarchy DAO which is responsible for technical grant funding. 

The Drift DAO Foundation plays a role in helping smooth coordination of decisions and ideas of token holders and the DAO community.

Solana Drift Trading Volume Over $250 Million 

Coming in 2021, Drift is one of the pioneers of DeFi projects on Solana. Since then, the platform has facilitated a cumulative trading volume of more than $20 billion, and currently has a total value of more than 250 million dollars.

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DRIFT Token Distribution

• The total DRIFT tokens will be distributed in stages over five years.
• Most of the tokens (more than 50%) are allocated to the DRIFT community.
• Token allocation is divided as follows:
  • 53% for the DRIFT community and ecosystem
  • 25% for DRIFT protocol development
  • 22% for strategic participants (investors and partners)

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Vesting Period

• Drift team members and venture capitalists have vesting periods of between 24 and 36 months.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.  

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.  

Learn  Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime. 

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DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.