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On April 16, the Drift Foundation introduced the DRIFT token, detailing its tokenomics and distribution plan, which includes a Launch Airdrop to Drifters to recognize their participation within the Drift protocol and to catalyze participation in on-chain governance.
Today, the Foundation is excited to announce that the Launch Airdrop eligibility checker is live. More details on the criteria can be found in this blog post.
In this Launch Airdrop, up to 120 million Drift tokens, representing 12% of the total supply, will be distributed to eligible participants. An additional 20 million tokens (2%) were added to the Launch Airdrop to celebrate the diverse community of Drifters who helped Drift soar past countless milestones.
This allocation is part of the 53% of the total supply set aside for Community and Ecosystem initiatives.
All DRIFT allocated from the Launch Airdrop will be claimable for 3 months from the Token Generation Event (TGE).
A hybrid approach was utilized to improve the fairness of distribution for individual Drifters. Here are the details of each eligibility criterion:
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OG Points recognizes early usage of Drift v2. The majority of the Launch Airdrop is allocated towards OG Drifters.
The allocation design for OG Drifters aims for the fairest and broadest distribution to Drift's early users, recognizing organic usage of the protocol.
OG points are allocated based on the following activities:
Multipliers and additional bonuses were applied based on a combination of how early and active a user was on Drift v2 and their liquidation volume.
Integrating new active users into the existing community and empowering them is essential for Drift to continue growing. To facilitate this, Drift launched the Trader Points program on January 22, 2024, to onboard market makers and encourage both new and existing traders to continue trading. The program ran until April 18, 2024, with the last snapshot taken on that date.
Drift is committed to bringing more Drifters on-chain and expanding the DeFi landscape. All active Drifters, both old and new, are an integral part of Drift’s journey and will be recognized in future programs for their continued contributions to the growth of the Drift ecosystem.
Drifters that used v1 will receive allocations based on their activity.
Drift Keepers power the protocol and the decentralized orderbook, ensuring the best and fastest fills for traders. Drift pioneered a fully on-chain decentralized orderbook (DLOB), which relies on a network of orderbook keepers to match bids and asks, instead of relying on a centralized server. Drift Keepers who have matched at least $1,000 in aggregate volume will receive an allocation, with an additional bonus given to those who have been active over the 30 days before the snapshot.
Drift has partnered with Allium, a leading blockchain data platform, to analyze user activity on Drift and identify clusters of Sybil-like behavior. Accounts identified as participating in Sybil activity and wash trading were heavily penalized. The allocations for penalized accounts were redistributed.
For a comprehensive breakdown of the Sybil detection methodology, we go into greater detail in this article.
The DRIFT Launch Airdrop eligibility checker is now live. Drifters can enter their wallet address to check if they qualify for the DRIFT Launch Airdrop, the amount allocated, and the bonus that they will receive.
As part of the Launch Airdrop, eligible wallets will be given a bonus for waiting to claim.
This claim design helps facilitate the best possible experience for Drifters by:
The bonus will unlock linearly over a 6-hour period from the launch and be added to your total claim amount.
This means that the longer you wait to claim, the higher your total claim amount.
If you claim any time within the 6 hour period, you’ll receive the portion of bonus tokens that have been unlocked. Bonus amounts that are locked at the time of your claim will be forfeit and returned to the DAO.
Top Drifters with large allocations will be able to claim a portion of their allocation and a bonus on Day 1. The remainder of their allocation will be subject to a 3 month cliff and a 9 month vest.
Check if you are eligible for the Launch Airdrop here.
Please verify that the website you are checking from matches drift.foundation.
The DRIFT token claim has not gone live and has yet to be announced. Do not visit unofficial links or connect your wallet to apps claiming to be the DRIFT airdrop. Follow the @DriftFDN Twitter account for the latest updates.
