Drift

Clarification: Users are able to redeem at any time after redemption opens; however, early redemption occurs at a discount to the full claim value as users receive a pro-rata share of the current pool. Holders who wait may benefit from a higher recovery price as the pool continues to grow.

Read the full Recovery Plan for Affected Users here: drift.trade/updates/recove…

Note that key decisions won’t be made unilaterally: Major changes will be subject to a DAO vote, because your voice matters in how we rebuild. Drift will publish updates as more progress is made. Follow @DriftProtocol for the latest updates.

We told our community we would find a path to recovery. This is that path. Today’s update covers: how users will be compensated and how the exchange is being rebuilt.

@paoloardoino 🫶

Tether cares

brb im crying we come back stronger

Identifying a path towards recovery has been the sole focus since April 1. The collaboration with @tether and other partners gives us the resources to find that path on an accelerated timeline. businesswire.com/news/home/2026… The structure matters: in the initial phase of the collaboration, a substantial portion of exchange revenue, together with committed support capital, is intended to fund a dedicated user recovery pool. This collaboration is the first major step in rebuilding stronger than before. We’ve outlined important details in an Incident Recovery Update here: drift.trade/updates/incide…

After April 1, we put our heads down and committed to making this right for our users and partners. Today, we're announcing a collaboration with @tether and other partners, through which they are proposed to contribute up to $147.5 million combined to support user recovery and facilitate the Drift Protocol relaunch. The collaboration is structured around a clear, revenue-driven recovery mechanism designed to prioritize users from day one through a revenue-linked credit facility, an ecosystem grant, and loans to market-makers. During the initial phase of the collaboration, a substantial portion of exchange revenue, together with committed support capital, is intended to fund a dedicated user recovery pool. The willingness of @paoloardoino, Tether and our partners to commit real capital to Drift’s recovery says something about the strength of what we've built and what we're building next, as well as our shared vision to scale the Solana DeFi ecosystem together. We are committed to continuing to provide transparency rooted in accountability as we build Drift back stronger in the coming months, and have outlined initial steps towards relaunch and user recovery in this Incident Recovery Update: drift.trade/updates/incide… Full details from @DriftProtocol: businesswire.com/news/home/2026…

When the industry faces challenges, Tether steps up. 🛡️ We are leading an up to $150M recovery plan alongside the @SolanaFndn to support user recovery and safely relaunch @DriftProtocol Watch the video to see how we're protecting the community and expanding $USDT on Solana. 👇

We told our community we would find a path to recovery. This is that path. This is the first step toward making users whole over time and toward building back stronger than where we were before.

We are publishing an Incident Recovery Update that outlines all of these specific steps towards relaunch and user recovery in more detail. You can read it here: drift.trade/updates/incide…

Today, Drift is announcing a collaboration with @tether and other partners totaling up to nearly $150 million to support our commitment to a relaunch with USDT at the center, and a path to user recovery. These funds encompass a $100M revenue-linked credit facility, an ecosystem grant, and loans to market makers, designed to fund a dedicated user recovery pool. Learn more 👇