Solana Perps Exchange Drift Opens Recovery Token Claims for Users Who Lost Over $290 Million
By Unchained
AI summary of the source article
The Drift Foundation has initiated claims for DFX, a Solana-based token meant to compensate users who lost over $290 million during an April 1 exploit. Each verified lost USDT grants one DFX token, with the initial redemption rate yielding roughly 0.0104 USDT from a 3.1 million USDT Recovery Pool. The pool is designed to grow through net revenue shares from the rebranded Velocity exchange, recovered assets, and up to 147.5 million USDT in commitments from Tether and strategic partners. Users can redeem, trade, or hold their tokens until claims officially close on January 1, 2028, after which unclaimed tokens are burned.
Why it matters
The program establishes a formal mechanism to return funds to victims of the $290 million hack using exchange revenue and partner commitments.
Key facts
- Users receive one DFX token per USDT lost in the April 1 exploit, which totaled over $290 million.
- Initial redemptions yield roughly 0.0104 USDT per token from a 3.1 million USDT Recovery Pool.
- Future pool funding includes net protocol revenue from Velocity, frozen assets, and commitments of up to 127.5 million USDT from Tether.