Drift Foundation: DFX is not pegged to 1 USDT, and the current recovery pool covers only approximately 1% of claims.
2026.10.05 11:32:16
Drift Foundation has issued a statement on DFX-related matters, clarifying that DFX is not pegged to 1 USDT. For every verified 1 USDT in user losses, claimants will receive 1 DFX, though the actual redemption amount depends on the recovery pool’s asset balance at the time of redemption. The recovery pool currently covers only roughly 1% of total claims. Redemption is not mandatory: users may hold DFX and retain their claim to the recovery pool as funds are deposited into the pool and DFX supply shrinks, or trade DFX on secondary markets including Raydium. Tether has committed up to 127.5 million USDT to support Velocity’s restart and user asset recovery, but this funding will be matched against Velocity’s net protocol revenue and has not yet been disbursed as a lump sum. The deadline for DFX claims is January 1, 2028. Already claimed DFX will not be burned. Users who previously failed to claim have their allocated amounts intact and can reattempt the process; the website wallet warning issue has been resolved.
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