Solana-powered decentralized change Drift shared plans to roll out its governance token alongside a 100 million token airdrop.
The governance token will permit holders to vote on future protocol choices coordinated by the Drift Basis and proposed by group contributors. An April 16 announcement stated 180,000 customers would obtain 10% of DRIFT’s 1 billion whole provide primarily based on interactions with the Solana (SOL) platform since its launch in 2021.
Proponents contemplated over extra airdrop particulars attributable to an X put up from the Solana perpetual futures platform, teasing a reveal on April 17. Nonetheless, the staff has not disclosed a particular distribution date however stated the eligibility standards can be launched quickly.
The protocol is considered one of many initiatives giving free tokens to early supporters in a so-called ‘airdrop season’. Jupiter, a fast-rising SOL DEX, additionally launched its JUP coin for customers in January after launching three years in the past.
Three-tier Drift DAO
Along with an airdrop and governance token launch, the DEX confirmed is a multi-branch decentralized autonomous group (DAO) system aimed toward democratizing operations.
The Realms DAO might be tasked with protocol growth, safety council elections, proposing key adjustments, and guaranteeing the platform is secure for customers’ belongings. In accordance with DefiLlama, the change has amassed over $20 billion in quantity and $248 million in whole worth locked.
![Solana exchange Drift confirms 100m token airdrop - 1](https://crypto.news/app/uploads/2024/04/Screenshot-401-1024x448.png)
Secondly, consultants elected by the Realms DAO will work inside a Safety Council DAO centered on finetuning on-chain parameters wanted for easy execution. The group may also deal with protocol upgrades.
A Futarchy DAO will allocate developer grants and distribution funds to ecosystem initiatives because the Solana DEX seems to bootstrap innovation throughout its group.