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Solana Exchange Drift Confirms 100 Million Token Airdrop

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Solana-powered decentralized exchange Drift has shared plans to roll out its governance token alongside a 100 million token airdrop.

The governance token will allow holders to vote on future protocol decisions coordinated by the Drift Foundation and proposed by community contributors. An April 16 announcement stated that 180,000 users would receive 10% of DRIFT’s total billion supply based on interactions with the Solana (SOL) platform since its 2021 launch.

Supporters have been pondering more details about the airdrop due to an X-rated post from perpetual futures platform Solana, teasing an April 17 reveal. However, the team did not disclose a specific distribution date but said the eligibility criteria would be released soon.

The protocol is one of several projects offering free tokens to early supporters during a so-called “airdrop season.” Jupiter, a growing SOL DEX, also launched its JUP coin for users in January after its launch three years ago.

Three-Level Drift DAO

In addition to the launch of an airdrop and governance token, the DEX confirmed that it is a multi-branch decentralized autonomous organization (DAO) system aimed at democratizing operations.

The Realms DAO will be responsible for protocol development, security council elections, proposing key changes, and ensuring platform security for user assets. According to DefiLlama, the exchange has accumulated over $20 billion in volume and $248 million in total value locked.

Solana Exchange Drift Confirms 100 Million Token Airdrop – 1
TVL drift | Source: DéfiLlama

Second, experts elected by the Realms DAO will work within a Security Council DAO focused on fine-tuning the on-chain parameters necessary for smooth execution. The group will also manage protocol upgrades.

A Futarchy DAO will allocate developer grants and distribution funds to ecosystem projects as the Solana DEX seeks to drive innovation in its community.

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