2024

Solana

Token

Foundation

Solana-based decentralized exchange Drift protocol has <a href="https://www.drift.trade/governance/introducing-the-drift-governance-token" target="_blank" rel="noopener" data-wpel-link="external">announced </a>the issuing of a governance token called DRIFT and the distribution of airdrops for its users. The program comes in 3-month reward points framed to encourage and foster participation within the Drift Community. 
Amongst the others,100 million equivalent to around 10 % of the total DRIFT will be allocated to the users through this airdrop, staked towards loyal members. 
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 Introducing <a href="https://twitter.com/search?q=%24DRIFT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">$DRIFT</a> — the Drift Governance Token. DRIFT is the governance token of Drift Protocol, the largest open-sourced perpetual futures exchange built on Solana. <a href="https://t.co/BGTBANpThH" target="_blank" data-wpel-link="external">pic.twitter.com/BGTBANpThH</a>— Drift Foundation (@DriftFDN) <a href="https://twitter.com/DriftFDN/status/1780213283095552507?ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">April 16, 2024</a>
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The Drift Company plans to distribute the control to the owners of the tokens who can run over token listings and software upgrades. Multiple VC players of crypto ventures coming in, Polychain Capital, and Multicoin Capital among them, did heavy funding raising. It already had over $25 million since 2021. 
The distribution plan of the DRIFT token recognizes token allocation to ecosystem development, protocol development, and venture capital backers. Drift will also expand operations out from location to a full crypto platform, providing access to many services and investing in the Solana system.&nbsp; 
The distribution also includes spot trading, unique financial tools, and features like trading bots and open-source interfaces. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also read: <a href="https://www.cryptotimes.io/2024/01/23/drift-protocol-unveils-points-rewards-preceding-token-launch/" data-wpel-link="internal">Drift Protocol Unveils Points Rewards Preceding Token Launch</a> 
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Drift Protocol Announces 100M DRIFT Airdrop for Solana DEX

The Crypto Times

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