Drift Protocol, the most important perpetual swap futures alternate on Solana, simply launched a factors program. The factors program precedes a future airdrop, the place Drift will distribute its governance token to neighborhood members in an effort to decentralize the protocol.
Thus far, Drift has seen over $5 billion in volume from round 90,000 customers, equating to over $120 million in whole worth locked within the protocol. The corporate closed a $23.5 million Collection A final October, with contributions from Polychain Capital and Solana Labs co-founder Anatoly Yakovenko, amongst others.
Drift factors will likely be distributed to customers on a weekly foundation, and so they’ll be giving out 100 million factors per week. The protocol’s workforce has but to launch info on what number of tokens will likely be distributed by way of the factors program in whole.
The factors will likely be generated primarily by a person’s buying and selling exercise. They’re based mostly on a person’s prorated buying and selling quantity, in addition to different actions—equivalent to whether or not or not they put up liquidity.
This system will final for 3 months, however the Drift workforce reassured their neighborhood that previous actions would even be rewarded, and that a number of snapshots had been made already to reward “OG customers.” One workforce member additionally took to Twitter (aka X) to let customers know that this system might even finish in lower than three months, however not than that.
How do you farm it?
Drift has overtly said that factors will likely be tied to your prorated buying and selling quantity, and that factors will likely be distributed as soon as per week. That signifies that if in any given week, my exercise accounts for 1% of the overall quantity on Drift, then I’ll obtain 1% of the factors distributed that week.
rule of thumb when making an attempt to determine how a protocol will weigh totally different actions in a factors program or airdrop is to consider what the protocol’s objectives are.
At its present stage, Drift Protocol seems to be targeted on 4 key metrics: whole quantity, the variety of customers, cumulative trades, and the overall worth locked (TVL). With this in thoughts, to farm this airdrop, I wish to do actions that can improve these numbers.
On this case, all of those values improve as quantity will increase—so it’s secure to say that the secret right here is buying and selling quantity. Drift is a perpetual futures alternate, so to do that all you should do is make a number of trades!
A remaining consideration: Drift Protocol doesn’t serve U.S. residents, so for those who’re within the good ol’ Purple, White, and Blue, then you definitely’ll have to take a seat this one out.
Edited by Andrew Hayward
