Drift Protocol Announces Points Program for its Upcoming Airdrop
Drift Protocol, one of the biggest Solana-based perpetual swap futures exchanges, has just rolled out a points program. This program comes before the project’s soon-to-be-launched airdrop, in which Drift will reward community members with its governance token as the protocol attempts to decentralize its governance system.
As of January 29th, Drift has over 90,000 active users. The trading platform has processed $5 billion worth of trades since its launch. Moreover, Drift has a total value locked of nearly $125 million.
Last October, the decentralized exchange closed a Series A funding round, collecting $23 million from investors like Solana founder Anatoly Yakovenko and Polychain Capital. Drift said the money will be used to enhance the platform for a seamless trading experience.
How Drift Will Distribute Points to Users
Meanwhile, Drift rewards are set to be distributed to traders weekly. Per the protocol’s announcement, over 100 million points will be distributed every week. However, it does not state the number of tokens to be airdropped to users.
So, what criteria will Drift use to distribute points to traders? Well, your weekly trading volume will determine the number of points you earn. Additionally, you stand to receive more Drift points if you are a liquidity provider. Early users will also earn points for their loyalty.
According to a post shared on X by Drift’s official account, the points program will run for the next months. However, one of the project’s leaders tweeted from their X account on Saturday, saying the program might end before the three months elapse.
How to Farm Drift Airdrop
As mentioned earlier, your trading volume determines the points you earn. For example, if your volume accounts for 2% of the total weekly volume processed on the Drift exchange, then you will receive 2% of the distributed points. The same goes for liquidity pools. If your committed funds account for 2% of tokens in a particular liquidity pool, you will get 2% of the total distributed points.
It is worth highlighting that Drift Protocol isn’t available in the United States, meaning residents from this country cannot farm the exchange’s airdrop.
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