Drift Protocol Unveils Points Reward Program Ahead of Token Launch

Drift Protocol, the leading perpetual futures trading platform on the Solana blockchain, has introduced a user rewards program, named Drift Points, ahead of its upcoming token launch. The program, starting today and concluding in March, will distribute around 100 million Drift points monthly, with the initial distribution scheduled for February 2.

Drift Points Program Kickoff

The Drift Points program, initiating today and concluding in March, will distribute points weekly based on users' pro-rated trading volume and activities such as market making and liquidity provision.

Future Recognition

The program recognizes future user activities, with numerous checkpoints and snapshots for those engaged with Drift before today to reward early adopters.

Governance Token Transition

Drift will undergo a progressive decentralization plan, introducing a governance token as the first step towards community ownership. An elected risk council from token holders will manage the protocol's upgrade authority, determining functions like fees and technical parameters.

Token Launch

The Drift token is expected to launch shortly after the conclusion of the points program in March. The correlation between Drift points and the distribution of Drift tokens remains undisclosed.

Drawing from Jito's Success

Inspired by Jito Network's successful rewards program, Drift Protocol aims to replicate its success. Jito's points program and subsequent token airdrop significantly contributed to the growth of the Solana ecosystem.

Drift's Standing

As the ninth-largest decentralized finance protocol on Solana, Drift boasts a total value locked exceeding $113 million. With over $4 billion in processed trading volume for 80,000 users, Drift has established itself as a key player in the Solana ecosystem.

About Drift

Founded in 2021, Drift is backed by notable investors, including Polychain Capital and Solana Labs co-founders Anatoly Yakovenko and Raj Gokal. Having raised $23.5 million in Series A funding in October, Drift plans to launch new features, including a redesigned mobile app and innovative governance modules.

As Drift Protocol gears up for its token launch, the introduction of the Drift Points program signals a proactive approach to engage and reward its user base. The subsequent governance token transition emphasizes a commitment to community-driven development.

While Drift Protocol showcases promising developments, it's essential to monitor the implementation of its governance plans for a comprehensive evaluation of its decentralized framework.