Drift Fund opened applications for DFX token redemption for hack victims on April 1, 2026. The funds available for compensation amount to approximately 3.11 million USDT, with the initial payout approaching 1% of confirmed losses. According to the terms, each eligible wallet receives one DFX token for each USDT of confirmed losses from the hack. The initial redemptions are around 0.0104 USDT per DFX, and the redeemed tokens will be permanently burned. The recovery funds include revenue from Velocity, support from Tether, partner capital, and any returned stolen assets.
Users can submit applications until January 1, 2028, after which unclaimed tokens will be burned. The launch conditions set the total amount of DFX tokens at approximately 299.5 million, and no additional tokens will be issued. Each redemption amount is determined by a formula where the redemption amount is the USDT balance in the Recovery Pool divided by the total number of DFX tokens. Thus, an application representing 1,000 USDT in losses will initially be redeemed for about 10.40 USDT.
For the initial request, the Fund requires users to connect a wallet that was controlled by their Drift account as of April 1. Instructions also require a small balance of SOL for network fees and agreement to the DFX terms before approving the application transaction. After submitting the application, users can either redeem tokens for USDT or retain their share in future recovery funds.
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