Drift Protocol Launches DFX Recovery Token Redemption for Exploit Victims
- Claims and redemptions for the DFX recovery token began on Oct. 1, allowing victims to receive USDT from a pool of approximately 3.1 million USDT.
- Victims receive one DFX for each USDT of verified loss, with an initial payout rate of about 0.0104 USDT per DFX, representing roughly 1.04% of their losses.
- The total fixed allocation for DFX is set at 299,500,810.998, corresponding to nearly 299.5 million USDT in verified losses.
- Redemptions result in the burning of tokens, permanently removing them from circulation and forfeiting future revenue participation.
- The claim window will close on Jan. 1, 2028, after which unclaimed DFX will be permanently burned.
Drift Protocol’s recovery plan includes up to 127.5 million USDT from Tether and additional funds from strategic partners to support user recovery and platform relaunch efforts.
As of now, victims can redeem their DFX tokens at a specified rate while understanding that cashing out locks in their recovery amount but relinquishes future benefits from remaining tokens.(Source)
