The Drift Basis, answerable for the Solana-based decentralized trade (DEX) Drift, introduced the DRIFT token launch and airdrop.
This important occasion consists of distributing 120 million DRIFT tokens, representing about 12% of the entire provide.
120 Million Token Airdrop on Solana
The airdrop, which commenced on Could 16, introduced a singular 2% bonus element, equal to twenty million tokens.
Eligible customers will obtain an preliminary allocation of tokens at launch and a bonus allocation unlocking over six hours. Nonetheless, in the event that they declare the preliminary 100 tokens instantly, they forfeit the bonus. The objective of this initiative is to discourage early promoting and alleviate community congestion.
In response to Cindy Leow, Drift’s co-founder, this method reveals dedication to enhancing consumer expertise.
“Traditionally, airdrop claims have triggered community congestion, leading to a suboptimal consumer expertise as tens of hundreds of customers and bots rush to say their airdrop,” Leow stated.
Learn extra: Greatest Upcoming Airdrops in 2024
The Basis detailed its tokenomics and distribution plan. The airdrop is designed to acknowledge consumer participation and catalyze involvement in on-chain governance. This consists of allocations primarily based on early utilization of Drift v2, buying and selling exercise, and participation in particular packages, making certain a good and inclusive distribution.
The token airdrop has garnered important curiosity from main cryptocurrency exchanges. As an example, Coinbase has included the token in its roadmap, and Bybit has announced plans to listing it. This early recognition from trade leaders testifies to the token’s potential and worth.
It’s value noting that Drift has facilitated over $20 billion in cumulative buying and selling quantity and at the moment holds over $333 million in whole worth locked (TVL), in keeping with DeFiLlama.
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