Drift opens compensation claims for stolen funds; the initial payout rate is approximately 1%
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AT A GLANCE
Velocity (formerly Drift) has opened claims for stolen-asset compensation; at the current DFX exchange rate, this can compensate for approximately 1%。
Article
Drift opens compensation claims for stolen funds; the initial payout rate is approximately 1%
PANews October 3 According to The Block, Velocity (formerly Drift), a Solana ecosystem perpetual contracts exchange, has opened April compensation claims for the theft incident. For every 1 USDT lost, users can receive 1 tokens DFX tokens; the current payout rate is approximately per token DFX redeemed for 0.0104 USDT, equivalent to approximately 1%of the loss. The compensation pool is currently approximately 3110000 USDT，DFX with a total supply of approximately 299500000 tokens, with no further issuance. The Drift Foundation stated that protocol revenue will continuously be contributed to the compensation pool, and Tether has committed to provide up to 127500000 USDT to support the restart and user compensation. The claim deadline is January 1, 2028. Previously, Drift was attacked on April, resulting in losses of approximately 295400000 USD。
The report stated that Velocity (formerly Drift), a Solana ecosystem perpetual contracts exchange, has opened April compensation claims for the theft incident.
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The report stated that, for every 1 USDT lost, users can receive 1 tokens DFX tokens.
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The report stated that the current exchange rate is approximately per token DFX redeemed for 0.0104 USDT, approximately 1%。
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Reports indicate that the current compensation pool totals approximately 3110000 USDT。
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Reports state that DFX the total supply is approximately 299500000 tokens, with no further issuance.
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The Drift Foundation stated that the compensation pool will continue to be funded by protocol revenue.
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Reports indicate that Tether has committed to provide up to 127500000 USDT to support the restart and user compensation.
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Reports indicate that the deadline for compensation claims is January 1, 2028。
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Reports indicate that Drift was attacked on April resulting in losses of approximately 295400000 USD。
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Affected users can claim for each loss of 1 USDT 1 tokens DFX, but DFX currently, they can redeem only approximately 0.0104 USDT. Therefore, at the current redemption rate stated in the news, the actual value of the first tranche covers only approximately 1% of the original loss. The foundation states that the compensation pool will receive protocol-revenue injections in the future, but the original text does not specify the final amount that may ultimately be compensated.
Why it matters to readers
The current compensation value is substantially lower than the losses reported in the news. Whether users can receive additional compensation will depend on subsequent injections into the compensation pool and DFX the actual redemption conditions.
If you are an affected user, you should monitor the claim deadline, eligibility requirements,DFX redemption rules, and actual redeemable value; “receiving 1 USDT for each loss of 1 tokens DFX” does not mean immediately recovering 1 USDT。
Risks and unknowns
The original text does not provide a foundation announcement, claim page, or on-chain materials; the compensation rules and eligibility still require verification.
The original text does not specify whether the amount Tether claimed to have available was actually injected. 127500000 USDT Whether the support has already been actually injected.
It is unclear how much protocol revenue the compensation pool may subsequently receive or when it will be injected.
Related Developments
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DFX The future redemption rate and final payout ratio cannot be confirmed from the original text.
The original text uses both “Velocity (formerly Drift)” and “Drift was previously attacked”; no further materials are provided regarding their relationship or the renaming.
The news headline refers to the “initial payout rate,” but the body only provides the current redemption rate and does not specify the exact scope of “initial.”
Related concepts
Perpetual Contract
A derivative contract with no expiration date, designed for continuous holding, whose funding rate mechanism helps keep its price close to that of the underlying asset.
