Even though the cryptocurrency market is on a downward trajectory, it continues with new projects and new tokens. This is in line with the dynamic nature of the market. One recent move came 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, it gave airdrop good news to its users in a statement.
Drift Protocol is issuing tokens: Airdrop is coming!
As you have been following on Kriptokoin.com, the bearish mood in the market has demoralized morale. However, from a broader perspective, the market has managed to gain a lot of ground in 4 months. Moreover, many experts and analysts say that they see these periods as opportunities. Accordingly, investors are looking for new opportunities with their eyes wide open. One of these opportunities is undoubtedly airdrop events. Airdrop refers to the distribution of free tokens or coins. Solana central DEX Drift Protocol is planning to launch DRIFT, a governance token. Therefore, an airdrop for users is also on their agenda.
Earlier, Drift launched a points program to attract its users. The token also came after this program. According to the statement, most of this airdrop will go to longtime Drift users. Drift is first creating a token on Solana that empowers its holders to make decisions. This token aims to decentralize operations. Drift will use some of these tokens for various rewards and airdrops. Another part is reserved to pay those who contributed to the development of the protocol.
Drift Protocol said that most of the 100 million tokens allocated for this airdrop will be allocated to long-term Drift users. Of DRIFT’s total supply, 10% will go to its users; 22% to venture investors; 43% of the tokens will be used for ecosystem development. In addition, 25% of the tokens will be allocated for protocol development.
The protocol aims to be a one-stop shop on Solana!
Drift Protocol aims to become a one-stop-shop for crypto investors on Solana. Its main product is a trading service where speculators can buy and sell cryptos on a leveraged basis. Drift also hosts spot trading and high-risk financial instruments. As a new product, it allows traders 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 protected against bad debts with an insurance fund. However, despite the sudden price drop in the market, Drift managed to stay afloat. Cindy Leow, the main participant of Drift Labs, said that the company aims to be more than just a DEX. Leow said that they suffered a massive liquidation during the market crash. However, she emphasized that liquidations are going well.
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