Drift Foundation Offers Limited Redemptions for April 1 Incident Victims

Drift Foundation has launched a claims process for users affected by the April 1 incident. The program allows users to redeem DFX tokens, which represent a claim on Drift's Recovery Pool.

The pool currently holds about $3.11 million in USDT and is set to receive up to $127.5 million from Tether and up to $20 million from strategic partners. Each DFX token is redeemable for approximately $0.01, based on the current balance of the Recovery Pool.

Users with verified losses can submit claims through the newly launched process. Once DFX is redeemed for USDT, the corresponding tokens will be burned, permanently removing them from circulation. The redemption process is final, and users cannot reverse a completed redemption.