Recently, an important update emerged about DRIFT, which has been added to Coinbase's future plans. The Drift Foundation, the team behind the Solana-based decentralized exchange (DEX) Drift, has shared information about when the DRIFT token will be launched and details regarding the airdrop. This major event will see 120 million DRIFT tokens, making up 12% of the total supply, distributed to users.

Airdrop Schedule

The airdrop kicked off on May 16, with a unique initial distribution of 2%, equal to 20 million tokens. For the latest technology news, check out NEWSLINKER.

Eligible users will receive their first token allocation at the start, along with a bonus allocation unlocked within six hours. However, users risk losing their bonus if they claim the first 100 tokens right away. This strategy by DRIFT is intended to prevent early selling and reduce network congestion.

Cindy Leow, co-founder of Drift, explained the reasoning behind this method:

"In the past, airdrop claims have caused network congestion, resulting in a poor user experience as numerous users and bots rushed to claim their tokens."

Distribution Details

The Drift Foundation also outlined the token distribution and economic plan. The airdrop is designed to ensure meaningful user participation and support on-chain governance. This aims to provide a fair and inclusive distribution based on early use of Drift v2, trading activity, and involvement in specific programs.

The airdrop announcement had a positive impact on the views of major cryptocurrency exchanges. For instance, Coinbase’s addition of the token to its roadmap created a significant buzz. Bybit also announced its intention to list the token. These announcements by leading companies in the industry seem to have a favorable effect on the token's prospects.

According to data from DeFiLlama, Drift currently has a total value locked (TVL) of over $333 million, which might increase as more people become aware of it. However, potential challenges in the future could negatively affect this value.

Conclusion

The inclusion of DRIFT in Coinbase’s future plans and the airdrop announcement by the Drift Foundation are significant developments for the token. By carefully planning the distribution and addressing previous issues like network congestion, Drift aims to enhance user experience and ensure a fair token distribution. With increasing interest from major exchanges, DRIFT's future looks promising, though challenges may still lie ahead.