Velocity, formerly known as Drift, has opened claims for users affected by the $295.4 million theft from its Solana-based exchange in April.
Users can claim one DFX token for each USDT lost in the attack. The compensation pool currently holds about $3.11 million, putting the initial redemption value at roughly $0.0104 per DFX, or about 1% of the reported losses.
Velocity has capped the DFX supply at 299.5 million tokens and said no more will be created. The Foundation plans to use platform revenue to replenish the compensation pool over time.
Recovery Pool Gains Funding
Velocity will direct part of its net protocol revenue to the compensation pool. The share will be 60% on the first $30,000, 70% on revenue between $30,000 and $100,000, and 90% on amounts above $100,000.
Related: NEAR Intents $3.8 Million Exploit: What Users Should Know and Do
Tether has committed $127.5 million to the recovery effort, while other partners have pledged another $20 million. Any funds recovered from the theft will also be added to the pool.
Claims Remain Open Through 2028
Claimants must connect the wallet associated with their Drift account as of April 1, 2026, and have enough SOL to cover transaction fees. Claims close January 1, 2028. Velocity plans to burn unclaimed DFX tokens after the deadline.
DFX holders can redeem the tokens for USDT or trade them on Raydium. Future redemption values will depend on the compensation pool and the number of DFX tokens presented for redemption.
Related: Crypto Holders Face New Threats as Physical Attack Frequency Surges
Please note, this site provides content for entertainment purposes only and does not offer financial advice. Read more here