The Drift Foundation, which oversees the Solana-based decentralized exchange (DEX) Drift, has officially announced the launch and airdrop of its DRIFT token. This significant initiative involves the distribution of 120 million DRIFT tokens, representing approximately 12% of the total token supply.
The airdrop commenced on May 16, introducing a unique 2% bonus component, equivalent to 20 million tokens. Eligible users will receive an initial allocation of tokens at launch, with an additional bonus allocation unlocking over six hours. However, if users claim the initial 100 tokens immediately, they forfeit the bonus. This approach aims to discourage early selling and alleviate network congestion.
Cindy Leow, Drift’s co-founder, highlighted the foundation’s commitment to improving user experience. “Historically, airdrop claims have caused network congestion, resulting in a suboptimal user experience as tens of thousands of users and bots rush to claim their airdrop,” Leow explained.
The Drift Foundation detailed its tokenomics and distribution strategy, emphasizing user participation and on-chain governance involvement. The airdrop allocations are based on early usage of Drift v2, trading activity, and participation in specific programs, ensuring a fair and inclusive distribution.
The DRIFT token airdrop has garnered significant interest from major cryptocurrency exchanges. Coinbase has included the token in its roadmap, and Bybit has announced plans to list it. This early recognition from industry leaders underscores the token’s potential and value.