Post by wolfur about Drift Protocol ($DRIFT)

I had $DRIFT staked in Drift's insurance fund when the protocol was paused on April 1, so on Oct 4 I went through the claim at dfx.drift.trade. Connected the wallet, one transaction, 318.655528 DRIFT back, cost 0.0027 SOL (rent for the claim record and token account). It works. The on-chain side is the useful part.

The claim is a Jito merkle distributor. One admin key, 8jj7zJgd (also the paused Drift program's upgrade authority), runs 52 of them: 44 insurance-fund distributors, one per asset, opened June 30 21:45 UTC with clawback from July 1 2027, and 8 for DFX. Insurance fund, Oct 7: 19,547 eligible wallets, 1,521 claimed (7.8%) in three months. Big wallets went first: USDC 83.8% of 16.13M claimed by 5.4% of its 6,243 wallets; SOL 50.1% of 14,369 by 2.5%; DRIFT 43.0% of 19.10M by 14.1% of 4,763. "Returned in full" is in tokens: DRIFT was $0.068 on April 1, $0.016 when claims opened, $0.019 today.

DFX: 298.96M allotted, 101.28M claimed by 3,405 wallets in six days. The recovery pool ledger (data.velocity.exchange/recovery-pool) shows a 3,114,379 USDT seed on Sep 30, then daily exchange-revenue deposits of $1.55, $0.66, $5.96, $0.68, $2.30, $3.97, $0.52. All-time pool share of Velocity fees: $44.85. Redemptions took out about $2,729. Pool today 3,111,697 USDT against 299.5M of verified losses, 0.0104 USDT per DFX. No Tether or partner deposit in the ledger yet. Velocity's five perp markets did $22.4k of volume in 24h.

For the team:

1. The portal says the insurance-fund window "opens 7 Jul"; the distributors opened June 30. Say which date counts and, for the 92% who have not claimed, where the clawback sends unclaimed assets on July 1 2027.

2. Put the daily deposit figure on the DFX page next to the pool balance. The dashboard shows the balance; the ledger shows the balance is the seed.

3. State the Tether matching formula. The May plan tied it to prior-quarter revenue; the October post says "up to 127.5M" and nothing else.

Question: at the current split (70% net revenue, 60% of that to the pool below $30k a day), what daily Velocity volume does the plan assume?

I was a Drift insurance-fund depositor; I sold the claimed DRIFT the next day and hold no position. No other affiliation.