Drift Protocol announces updates to its tokenomics and issuance progress after TGE

Since the Token Generation Event (TGE) in May 2024, 55.6% of the total supply of DRIFT has been in circulation, with all key milestones of major investors completed. DRIFT is the governance token of the leading perpetual DEX on Solana, allowing users to participate in deciding the future of the protocol.

Main Tokenomics:

• Total supply: 1 billion DRIFT
• Maximum circulation: 750 million DRIFT
• Current circulation: 555.7 million DRIFT
• Release schedule: 5 years

Allocation:

• Ecosystem & transactions: 43%, 16.3% used for FUEL rewards
• Airdrop launch: 10%, completed 2024
• Develop protocol: 25%, 50% has been unlocked
• Strategic partner: 22%, all key milestones have been surpassed

Since the TGE, Drift has achieved:

• Trading volume: over 120 billion USD
• Total deposits: 1.4 billion USD
• Expansion products: Strategy Vaults ($298M TVL), Earn Products, Drift Institutional, Builder Codes, new trading experience.

Drift is preparing to launch Drift v3, enhancing the speed and performance of perpetuals on Solana. Users can participate in governance to decide how to use surplus fees to buy back DRIFT.