PANews reported on April 16 that according to CoinDesk, according to the Drift website and people familiar with the matter, the Solana ecosystem Decentralized Finance protocol Drift Protocol plans to launch the DRIFT governance token and Airdrop assets to users within a few weeks. The new Token follows a three-month points program that attracts traders, borrowers, lenders – and, of course, Airdrop Farmers – into Drift. But contributors to the protocol say that most of the 100 million Token in this Airdrop will go to long-term users of Drift.
In this Airdrop, 10% of the total supply of DRIFT will be distributed to users. Venture capitalists will receive a larger allocation of DRIFT, accounting for 22% of the total supply. 43% of the Token will be used for "ecosystem development", which may include trading rewards, liquidity incentives, and future Airdrops. In addition, 25% of the Token is reserved for "protocol development" paid to Drift contributors.
Control of Drift will shift from Drift Labs to a three-pronged governance structure. At the top is a Security Council, which will exercise escalating authority over protocol, essentially day-to-day control. Members of the committee will come from within Drift, at least initially, according to people familiar with the matter. They need to be approved by Drift's "Realms DAO", where Token holders can vote. The third aspect of Drift governance is the Futarchy DAO, which operates in a very similar way to MetaDAO. In short, the trader here will pull the decision lever by raising or opposing the price of the DRIFT Token in both conditional markets. The Futarchy DAO's decision will also address the issue of ecosystem grants. Drift Protocol also revealed its "new ecosystem plans," including the development of trading bots, validator clients, and alternative frontends as possible areas of investment.