The Solana-based decentralized exchange, Drift Foundation, has announced the launch of its new DRIFT token and the commencement of airdrop claims.

According to the foundation, the airdrop consists of 120 million tokens, which is 12% of the total 1 billion DRIFT supply. An additional 2% bonus of 20 million tokens has been included, surpassing the amount initially planned for last month’s airdrop.

Cindy Leow, co-founder of Drift, explained that the bonus aims to deter early selling and prevent network congestion. “Historically, airdrop claims have caused network congestion, resulting in a suboptimal user experience as tens of thousands of users and bots rush to claim their airdrop,” Leow stated. The bonus mechanism enhances user experience and rewards loyal supporters.

The airdrop includes two components: an initial allocation available immediately at launch and a bonus that unlocks over six hours. “By waiting the full six hours, users can double the number of tokens they receive,” Leow noted. If users claim the initial allocation immediately, they forfeit the potential bonus.

The DRIFT airdrop claim is now live!

The 2% bonus was funded from the token supply designated for ecosystem rewards, ensuring that other allocations remain unaffected. Following the launch, major crypto exchanges have indicated plans to list DRIFT. While the initial trading price and the fully diluted valuation of DRIFT remain uncertain, these listings are anticipated soon.

According to DefiLlama data, Drift has facilitated a cumulative trading volume of over $1.13 billion and currently has a total value locked of over $338 million.

Drift’s token, DRIFT, has already gone live with trading starting at $0.10 before spiking up to $0.84, and currently trades at $0.31 as of 11:44 EDT with a $37.5 million market cap.

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