Drift Foundation has detailed its compensation plan following a hack affecting the protocol. Under the arrangement, users will receive 1 DFX token for every 1 USDT lost. The eventual redemption value will depend on the balance of the recovery pool, which currently covers only about 1% of total claims. The foundation also said Tether has committed up to 127.5 million USDT to support the protocol restart and user compensation, though the funding will be matched against Velocity’s net protocol revenue rather than delivered in a lump sum. Claims will remain open until Jan. 1, 2028. Users can either keep DFX or trade it on secondary markets including Raydium. Drift Foundation added that the only official link is dfx.drift.trade.
Drift Foundation has provided details on its compensation plan after the protocol was hit by a hack, according to ChainCatcher.
Under the plan, users will receive 1 DFX token for every 1 USDT lost. The amount that can ultimately be redeemed will depend on the balance of the recovery pool, which currently covers only about 1% of total claims.
Tether has committed up to 127.5 million USDT to support the protocol restart and user compensation. The funding, however, will be matched to Velocity’s net protocol revenue and will not be distributed in a single payment.
The deadline for claims is Jan. 1, 2028. Users can choose to hold DFX or trade it on secondary markets such as Raydium. Drift Foundation said the only official link is dfx.drift.trade.
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