Drift Protocol opened claims and redemptions for its DFX recovery token on Oct. 1, allowing victims of its April exploit to receive USDT from the Recovery Pool. Drift's launch announcement reported a payout of about 0.0104 USDT per DFX. Drift reported that the pool held roughly 3.1 million USDT. Victims receive one DFX for each USDT of verified loss, making the launch payout about 1.04% of the corresponding loss. Those figures apply to Oct. 1; each redemption pays the rate quoted when the transaction is made.
DFX is a transferable token on Solana and is separate from the DRIFT governance token. Drift sets the fixed allocation at 299,500,810.998 DFX, corresponding to nearly 299.5 million USDT of verified losses. Outstanding DFX supply falls as tokens are burned.
The USDT payment and DFX burn occur in one transaction, with both succeeding or neither succeeding. Drift says completed redemptions are final. Redeemed tokens permanently lose participation in future deposits. Holders who redeem only part of their DFX retain participation through their remaining tokens. Future deposits are divided among the DFX that remain.
Selling DFX on a secondary market such as Raydium transfers the tokens to another holder rather than redeeming the tokens against the pool. Holding DFX preserves participation in future deposits, whose size and timing remain uncertain. The recovery dashboard defines the redemption price as the pool balance divided by outstanding DFX. Drift's stated design removes cash and burns tokens in the same proportion during redemption, leaving that ratio unchanged. New deposits increase the amount redeemable per remaining token.
Drift's Oct. 1 update restated an April 2026 support plan including up to 127.5 million USDT from Tether for relaunch and user recovery. The plan also includes up to 20 million USDT from strategic partners for recovery. Those commitment ceilings do not measure cash already available for redemption. Tether said in its April 16 announcement that capital would be introduced progressively and aligned with platform performance. Drift's April recovery framework described a revenue-linked credit facility, an ecosystem grant and market-maker loans. Such financing can support a relaunch without the full announced amount becoming immediately available to DFX holders.
Drift says a share of net protocol revenue from the Velocity trading platform enters the pool daily at 00:00 UTC, alongside any recovered stolen funds. Further recovery funding depends on those deposits arriving. The commitments do not promise that each victim will recover the full loss.
The DFX claim window closes Jan. 1, 2028, at 00:00 UTC, when unclaimed DFX will be permanently burned. The deadline applies to claiming tokens, rather than establishing a redemption deadline. Insurance Fund claims follow separate terms.