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Solana's Drift Airdrop Confirmed for April: Complete Guide to Maximize Your Allocation

The highly anticipated Drift airdrop is now scheduled for April! Learn how to maximize your potential rewards on the Solana blockchain with this step-by-step guide.

February 26, 2024 by Sheldon

Drift Protocol, a Solana-based decentralized exchange known for its leveraged trading, lending, borrowing, and liquidity provision capabilities, has made waves recently. The protocol hints at a potential April airdrop for its native token, building anticipation within the crypto community. This news comes on the heels of significant growth in key metrics, including record-breaking daily trading volume and user figures.

The excitement surrounding Drift's airdrop mirrors that of the highly successful dYdX airdrop on Ethereum. dYdX saw substantial rewards for early participants – an average of over $10k per user – and currently boasts a fully diluted valuation (FDV) of $1.83 billion. Drift's potential airdrop offers traders a similar opportunity for significant rewards, this time on the rapidly growing Solana blockchain.

Drift's Growth Trajectory and Funding

On February 13th, Drift saw a massive $300 million daily trading volume and an all-time high in active users. Its total value locked (TVL) stands at an impressive $161 million. Drift's strong performance and innovative features have attracted significant funding. The protocol secured $3.8 million in seed funding and an additional $23.5 million in a Series A round.

How to Fram Drift Points?

Drift Protocol has implemented a unique "DRIFT TRADER POINTS" 

system to incentivize and measure user loyalty to the platform, which can be used to determine individual airdrop allocation. This program rewards traders for activities such as trading and providing liquidity. Here's a breakdown of how to maximize your point earnings:

  • Account creation: Create a Drift account and deposit from Solana wallet
  • Trading Volume: The higher your trading volume, the more points you earn. Consider using a delta-neutral strategy to create more volume with minimal price exposure risk. Open offsetting long and short positions on Drift and platforms like Jupiter perps exchange or Zeta Markets.
  • Liquidity Provision: Providing liquidity to Drift's order book earns valuable points. Options include:
    • Just-in-Time (JIT) Trading Bot: Utilize a JIT trading bot to provide liquidity automatically.
    • Limit Orders: Place resting (post-only) limit orders through the protocol's UI to serve as a market maker.

Important Notes:

  • Points distribution considers factors beyond volume for fairness.
  • Activities like lending, borrowing, and staking to the Insurance fund or Super Stake SOL will earn "OG Points," likely distributed post-airdrop.

The April airdrop hint, paired with the success of similar projects like GMX and dYdX, make the Drift airdrop highly appealing. With substantial funding and a growing presence on Solana, the Drift airdrop could be one of the blockchain's most significant.

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