The Drift Foundation, responsible for the Solana-based decentralized exchange (DEX) Drift, has announced the launch and Airdrop of the DRIFT Token .
This milestone includes the distribution of 120 million DRIFT Token , representing approximately 12% of the total supply.
Drift Airdrop 120 million Token
The Airdrop started on May 16th introduced unique 2% bonus component, equivalent to 20 million Token.
Eligible users will receive an initial Token allocation at launch and unlock bonus allocation for six hours. However, if they claim the initial 100 Token immediately, they will lose their bonus. The goal of this initiative is to discourage premature selling and reduce network congestion.
According to Drift co-founder Cindy Leow, this approach demonstrates a commitment to improving user experience.
Leow said:
Historically, claiming Airdrop has caused network congestion, leading to a suboptimal user experience as tens of thousands of users and bots rush to claim their Airdrop .
Airdrop are designed to recognize user participation and enable participation in on chain governance. This includes allocations based on early adoption of Drift v2, trading activity and participation in specific programs, ensuring fair and inclusive distribution.
The Token Airdrop has attracted significant interest from major cryptocurrency exchanges. For example, Coinbase has included the Token in its roadmap and Bybit has announced plans to list it. This early recognition from industry leaders demonstrates the Token's potential and value.
It's worth noting that Drift has facilitated a cumulative volume of over $20 billion and currently holds a Total Value Locked of over $333 million, according to defillama.
