#DriftHackVictimsBeginClaims
Drift claims portal is open. Victims are starting to receive DFX.
What happened:
- Drift (now Velocity) opened the redemption portal
- 1 DFX for each verified USDT lost
- Initial redemption price: ~0.0104 USDT/DFX (~1.04% coverage)
- Total: 299.5 million DFX for ~US$295.4 million in losses
What holders can do:
- Burn DFX and receive its current value
- Trade on secondary markets such as Raydium
- Future protocol revenue will go back to the fund
What this means for DeFi:
- Evolving on-chain risk management
- Tokenized debt as a recovery mechanism
- Liquidity flows and secondary markets in focus
How do you assess on-chain risks and recovery in DeFi? Share your strategy in the comments!
$FIL $FLUID $MUBARAK
#solana #cryptotrading #blockchain
Drift claims portal is open. Victims are starting to receive DFX.
What happened:
- Drift (now Velocity) opened the redemption portal
- 1 DFX for each verified USDT lost
- Initial redemption price: ~0.0104 USDT/DFX (~1.04% coverage)
- Total: 299.5 million DFX for ~US$295.4 million in losses
What holders can do:
- Burn DFX and receive its current value
- Trade on secondary markets such as Raydium
- Future protocol revenue will go back to the fund
What this means for DeFi:
- Evolving on-chain risk management
- Tokenized debt as a recovery mechanism
- Liquidity flows and secondary markets in focus
How do you assess on-chain risks and recovery in DeFi? Share your strategy in the comments!
$FIL $FLUID $MUBARAK
#solana #cryptotrading #blockchain
