Although the cryptocurrency market is on a downward trajectory, it continues on its way with new projects and new tokens. This is quite compatible with the dynamic structure of the market. A recent move comes from Drift Protocol, a decentralized derivatives trading platform in the Solana ecosystem. The protocol plans to launch DRIFT governance tokens in a few weeks. In this context, he gave the good news of airdrop to his users in his statement.
Drift Protocol issues tokens: Airdrop is coming!
cryptokoin.comAs you can see from , the downward trend in the market has demoralized people. However, when we look at it from a broader perspective, the market has managed to come a long way in 4 months. Moreover, many experts and analysts say that they see these periods as opportunities. In this regard, investors are keeping their eyes open and looking for new opportunities. One of these opportunities is undoubtedly airdrop events. Airdrop means free token or coin distribution. Solana-based DEX Drift Protocol plans to launch DRIFT, a governance token. Therefore, making an airdrop for users is also on their agenda.
Previously, Drift launched a points program to attract its users. Token also came after this program. According to the statement, most of this airdrop will go to long-time Drift users. First, Drift creates a token that gives its holders decision-making authority over Solana. This token aims to decentralize operations. Drift will use some of these tokens for various rewards and airdrops. A portion is also allocated to pay those who contributed to the development of the protocol.
Drift Protocol said that most of the 100 million tokens it has allocated for this airdrop will be allocated to long-term Drift users. 10% of DRIFT’s total supply is given to its users; 22% to venture investors; 43% of the tokens will be used for ecosystem development. Additionally, 25% of the tokens will be reserved for protocol development.
Protocol aims to be a one-stop shop on Solana!
Drift Protocol aims to be a one-stop shop for crypto investors on Solana. Its main product is a trading service where speculators can buy and sell cryptos with leverage. Drift also hosts spot trading and high-risk financial instruments. As a new product, it allows investors to bet on tokens that have not yet been released.
Drift Labs has spent significant resources building a value stack for DeFi. During the crypto market crash, Drift was protected against bad debts with its insurance fund. However, despite the sudden price drop in the market, Drift managed to survive. Drift Labs main contributor Cindy Leow said the company aims to be more than just a DEX. Leow stated that they suffered a massive liquidation during the market crash. However, he emphasized that liquidations are going well.
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