The decentralized finance (DeFi) protocol Drift on the Solana network has unveiled its new rewards program called “Drift Points,” marking a significant milestone in its efforts to incentivize users participating in its platform. This program aims to reward traders and market makers actively engaging in trading activities on the protocol.
The central concept behind Drift Points is to provide a tangible measure to quantify and acknowledge the valuable contributions and loyalty of participants within the Drift ecosystem. This program will not only reward current activities but also recognize the past contributions of users who were active on the platform before the program’s launch.
Drift Points are LIVE
We are excited to announce Drift Points, designed to reward our fellow Driftors and OGs 🫵
Ready to take your trading to the next level?
Details 👇 pic.twitter.com/GMTqVy2CzZ
— Drift Protocol (@DriftProtocol) January 23, 2024
The first distribution of weekly rewards is scheduled for February 2, 2024. The platform has not yet disclosed specific details on how users can earn these points, and this information is expected to be shared at the end of the program, which has a maximum duration of three months. This decision aims to ensure fairness and prevent potential abuse of the system.
Drift Points represent a strategic initiative for the protocol, which experienced significant growth throughout 2023. Over the past year, the platform processed a trading volume exceeding $5 billion. Attracted over 90,000 users, and locked in a total value of more than $130 million.
Drift Seeks to Acknowledge Its Most Loyal Users and Position Itself as a Leader in the DeFi Sector
As a token of gratitude to the community that played a crucial role in its success. Drift decided to recognize past activity by distributing points at the end of the program. This gesture reflects sincere appreciation for the unwavering support of loyal users.
Throughout the last year, Drift implemented various improvements and innovative features to enhance the trading experience for its users. These include seamless integrations with the Solana blockchain protocol. The introduction of native vaults, liquidity programs, and support for new Solana tokens.
Looking ahead, Drift has ambitious aspirations. Aiming to solidify its position as the leading perpetual futures exchange in the cryptocurrency industry. Additionally, it plans to transition to a fully decentralized network this year. Eliminating the need for centralized exchanges and embracing the advantages of decentralization. With the launch of its program, the platform aims to have a lasting impact on the world of cryptocurrency trading.
