Drift opens claims for stolen funds compensation, initial payout rate around 1% of losses

Source: PANews2026/10/03 04:13

Analysis

Velocity, formerly Drift, has moved from a $295.4 million April exploit into a formal claims process, but the headline number is the payout ratio: roughly 0.0104 USDT per DFX, or about 1% of user losses, against a pool of only about 3.11 million USDT. The structure effectively converts verified losses into a fixed-supply token claim rather than a cash make-whole, so recovery value now depends on protocol revenue refilling the pool and on DFX's market value, with Tether's up-to-127.5 million USDT commitment framed as support for the relaunch rather than a guaranteed reimbursement. Watch whether the pool balance grows materially before the January 1, 2028 deadline, how the Foundation converts protocol revenue into compensation, and whether the DFX token accrues any claim on future revenue that would give the 1% figure real economic meaning.

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PANews reported on October 3, citing The Block, that Velocity (formerly Drift), a perpetual contract exchange in the Solana ecosystem, has opened claims for compensation related to the April theft. Users can receive 1 DFX token for every 1 USDT lost, with the current payout rate at roughly 0.0104 USDT per DFX, or about 1% of losses. The compensation pool currently stands at about 3.11 million USDT, and DFX's total supply is approximately 299.5 million tokens with no further issuance. The Drift Foundation said the compensation pool will continue to be replenished with protocol revenue, and Tether has committed up to 127.5 million USDT to support the relaunch and user compensation, with a claim deadline of January 1, 2028. Drift was previously attacked in April, losing about 295.4 million USD.

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