Tracy

@redacted_noah @RTDurac Hii @rtdurac u can dm me ur addy

@RTDurac @tracybbd should be able to get you sorted

Getting this beta ready has been a herculean effort. I’ve been thoroughly impressed by the engineering team that remains at Velocity/Drift. Despite heavy turnover, the remaining team are absolute chads. While I’ve been working to make the protocol more secure, they’ve been in the trenches rebuilding the infrastructure, patching bugs, and just generally kicking ass. If you’re on the beta, please beat the crap out of it with a wrench. Find all of the bugs (both old and new). You will not hurt our feelings. I truly treasure every bit of feedback we can get. Have fun!

@AleksVictus @VelocityDEX Hey! Could you join our discord server and open a ticket? Our team will be answering any issues you're facing and take feedbacks from there. Link to join: discord.gg/zPpydg7EK

@VelocityDEX Question: Where should I write my comments and suggestions that arise during testing? I've recently noticed that after a while, the open terminal freezes, requiring me to reload the page.

Velocity Private Beta is now live! Users who were whitelisted for access can now access the platform here: velocity.exchange

Thank you to everyone who offered to test the Velocity Private Beta - we are now officially live. If you DM’ed me your wallet and I replied that it has been whitelisted, go play around with the exchange and send me your feedback. Every step matters as we work toward public launch and recovery. Thank you for helping us get Velocity ready 🫡

@Achilliswarrior @inwhics @VelocityDEX What’s the error you see when you click claim? @0xMinhdonz

@tracybbd @inwhics @VelocityDEX Please I’m unable to dm back don’t know why

Update on Insurance Fund: Insurance Fund claims are now live. Eligible IF depositors can now connect their wallet and claim here: dfx.drift.trade Thank you for your patience.

@davijlu @redacted_noah I don’t know what arbx is

@Achilliswarrior @inwhics @VelocityDEX No - you can claim IF now, it will be open for 365 days

@tracybbd @inwhics @VelocityDEX So till next year before I would be able to claim

@DavisNunez_ @VelocityDEX Can you please clarify? This claim is only for insurance fund depositors. For DFX, you can check your allocation on the checker, claim is not live yet.

@VelocityDEX This is a fraction of what I had deposited on your protocol. You guys are a joke.

@Jacob_Bellows @VelocityDEX DFX claim is not live yet. Only insurance fund depositors are able to claim their deposits

@VelocityDEX Uh I don’t have an option to claim. I see that i’m owed but there are no claimable assets. Is it first come first serve?

@SeekSolX @kincocyan Are you able to refresh and claim? Also @kincocyan is not part of the team. Team members have velocity badges on X.

@kincocyan Thank you , please advice what should be a next steps

@tracy_codes @VelocityDEX @fusewallet @multisig best to check the fuse team on this, but from my understanding, they should be implementing a native checker in their UI.

@tracybbd @VelocityDEX @fusewallet @multisig ahh yeah it would be a dfx claim. still though, fuse wallet doesn't have an in-app browser so I think their team needs to build in support natively into the app to make a claim?

@Achilliswarrior @inwhics @VelocityDEX IF claim is open for 365 days

@tracybbd @inwhics @VelocityDEX I’m on able to claim it’s showing me till 2027?

@tracy_codes @VelocityDEX @fusewallet @multisig Is this for IF claim or DFX claim? DFX claim is not live yet

@VelocityDEX how can @fusewallet users make a claim? @multisig

@aallutfiii @VelocityDEX No official relaunch date yet. Any updates will be announced from @VelocityDEX. The DFX claim window will be announced closer to public launch.

@VelocityDEX when relunch ? DFX ?

@inwhics @VelocityDEX no distractions for them pls

@tracybbd @VelocityDEX Giving each of them 3 Latinas for this super work

@Mr3life @VelocityDEX Can you dm me the error you're facing?

@inwhics @VelocityDEX Our devs worked overtime to get the IF claims up

@VelocityDEX @tracybbd Thought service is going to resume fully before we can claim it? Anyway, this is equally as good as marketing.

@Rabberzzz @VelocityDEX hey - this should not happen. Can you send me a SS via DM of the error?

@VelocityDEX Doesn't work. Claims open soon is greyed out with amPhantom wallet.

Seeing a lot of commentary and questions on the Drift token following the rebrand to @VelocityDEX. Here are some preliminary thoughts: The introduction of the DFX claim token sets up an interesting situation. With the majority of net revenue going to DFX, it's hard to envisage how the existing DRIFT token will interact or be a beneficiary of future revenues. It's akin to debtholder v.s equityholders; with the former eating first. Unsurprisingly, the DFX holders are the senior tranche here. Thus, the DRIFT token’s core functionality remains pure governance, at least until all DFX holders have been made whole. Moreover, a few individuals have identified the existence of new program. A new program does not default have a governance token in place. Often, the token is introduced later for projects. So there is a valid question of “does the existing token govern the new program?” By default no. A third party token could, but not by design, govern a separate network. Historically, migrations have been the most common means where an existing tokens for a network becomes an another ticker. They happen for all kinds of reasons from tokenomic changes to program updates. Projects like Aave (ETHlend), Aevo (Ribbon), Derive (Lyra) all went through a migration. Closer to home, @MetaDAOProject serves as the best example - the previous token was unmintable, the DAO's treasury exhausted at the time, alongside unit bias. My view (and this does not represent the view of the foundation) is that something has to change given the co-existence of DRIFT and DFX. What that exactly is will required more nuanced thought and discussion but ultimately a token within a network must have a reasonable pathway towards value accrual. Right now this is unclear.