Drift Foundation's compensation plan sparks community outcry, with $100 losses only reimbursed at $1.

Huo Xing Finance reports that on October 2, the Drift Foundation opened claims and redemptions for the April 1 security incident. Affected users may claim newly issued compensation tokens, DFX, at a 1:1 ratio against their verified losses. DFX is a standard SPL asset on Solana, with a fixed total supply of approximately 299.5 million tokens, corresponding to about $295.4 million in verified losses, and no further issuance is planned. Users may burn their DFX tokens via the official portal to redeem USDT at the redemption price, or transfer them to secondary markets such as Raydium for trading. The redemption price is determined by dividing the balance of the recovery pool by the number of DFX tokens still outstanding. It is understood that the pool currently holds approximately $3.11 million in USDT, resulting in a redemption price of about $0.0104—meaning users recover roughly $1 for every $100 lost. This ratio has sparked strong dissatisfaction within the community. Some users noted that the so-called “full-coverage voucher” only compensates for about 1% of actual losses, effectively representing a 99% devaluation compared to the originally expected full reimbursement. Although the plan includes potential future funding sources—such as up to $127.5 million from Tether, up to $20 million from partners, fee-sharing from the new exchange Velocity, and recovered stolen funds—these amounts are either capped or scheduled for phased disbursement and were not deposited into the pool on the opening day. Notably, since trading began, the market price of DFX has risen significantly. While the redemption price remains around $0.0104, the secondary market price has increased from approximately $0.01 to about $0.03, a 210% gain in 24 hours. This price surge reflects market expectations of future inflows, not an increase in the recovery pool’s current balance. DFX is freely transferable, and market prices need not match redemption prices; current liquidity is only around $200,000, meaning small buy orders can significantly move the price. From community perspectives, buyers are primarily betting on two factors: first, if future funds from Tether, partners, protocol revenues, and recovered assets are gradually deposited, the redemption price could theoretically rise substantially above the current $0.01; second, any DFX tokens not claimed by January 1, 2028, or redeemed early will be burned, meaning future inflows will be distributed among fewer outstanding tokens.