Drift's DFX Redemptions Open at 0.01 USDT Per Dollar Lost

Drift Protocol opened claims and redemptions for its DFX recovery token on October 1, offering victims of its April exploit a way to receive USDT stablecoin from the Recovery Pool. The payout rate was about 0.0104 USDT per DFX from a pool holding roughly 3.1 million USDT.

Redeeming tokens comes with a permanent tradeoff: redeemed tokens are burned and no longer share in future deposits. However, retained tokens still participate in the pool.

The DFX claim window closes on January 1, 2028, at 00:00 UTC, when unclaimed DFX will be permanently burned. This is a deadline to claim tokens, rather than a stated redemption deadline.