Crypto News Today- Solana Drift DEX Announces 120 Million Token Airdrop

120 Million Tokens Airdropped by Solana DEX Drift

Crypto News– The Drift Foundation, which oversees the Solana-based decentralized exchange (DEX) Drift, has announced the launch and airdrop of the DRIFT token. This major event will see the distribution of 120 million DRIFT tokens, accounting for approximately 12% of the total supply.

Solana Sees 120 Million Token Airdrop

The airdrop, which began on May 16, features a unique 2% bonus component, equivalent to 20 million tokens.

Eligible users will receive an initial token allocation at launch, along with a bonus allocation that unlocks over six hours. However, claiming the initial 100 tokens immediately will result in forfeiting the bonus. The aim of this approach is to discourage early selling and alleviate network congestion.

Cindy Leow, co-founder of Drift, stated that this strategy demonstrates their commitment to enhancing user experience. The Foundation has outlined its tokenomics and distribution plan. The airdrop aims to acknowledge user participation and encourage engagement in on-chain governance. This involves allocations based on early Drift v2 usage, trading activity, and participation in specific programs, ensuring a fair and inclusive distribution.

The token airdrop has attracted considerable attention from major cryptocurrency exchanges. Coinbase, for example, has incorporated the token into its roadmap, while Bybit has revealed intentions to list it. This early recognition from industry leaders underscores the token’s potential and value.

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