Drift Protocol Launches Points Program
Drift Protocol, the leading perpetual swap futures exchange on Solana, has introduced a points program as a precursor to an upcoming airdrop. The aim of the program is to decentralize the protocol by distributing its governance token to community members.
So far, Drift has recorded over $5 billion in trading volume from around 90,000 users, resulting in more than $120 million locked in the protocol. The company secured a $23.5 million Series A funding round in October 2020.
The points will be distributed weekly, with 100 million points given out per week. The exact number of tokens to be distributed through the program has not yet been disclosed.
Earning Points on Drift
Drift points are generated based on a user’s trading activity and other actions, such as providing liquidity. The more a user trades, the more points they earn. A recent tweet from Drift Protocol provides further details on how users can earn points and track their rank on leaderboards.
Rewards for Past Actions
The points program will run for three months, but the Drift team has assured users that past actions will also be rewarded. Snapshots have already been taken to reward “OG users.” Although the program could end before three months, it will not exceed that timeframe.
Farming Drift Points
To farm Drift points, it is important to consider the key metrics that Drift Protocol focuses on: total volume, number of users, cumulative trades, and total value locked (TVL). As these metrics increase with trading volume, making trades is the most effective way to increase your chances of earning points in this airdrop. However, please note that Drift Protocol is not available to residents of the United States.
Hot Take: Drift Protocol Introduces Points Program for Airdrop Distribution
Drift Protocol has launched a points program to distribute its governance token to community members as part of its decentralization efforts. The program rewards users based on their trading activity and other actions. With over $5 billion in volume and $120 million locked in the protocol, Drift has gained significant traction. The points will be distributed weekly, and the team has assured users that past actions will also be rewarded. To maximize your chances of earning points, focus on increasing trading volume, as this aligns with Drift’s goals. However, please note that the program is not available to U.S. residents.
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