Drift opened DFX claims and redemptions on October 1, 2026, for users with verified losses from the April 1 exploit. The allocation is one DFX token for each USDT of verified loss.
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The opening redemption value was about 0.0104 USDT per DFX, equivalent to roughly 1.04% of a user’s verified loss.
The programme turns approved losses into a tokenised claim on Drift’s Recovery Pool rather than paying the full amount upfront. At launch, that pool held about 3.1 million USDT against nearly 299.5 million DFX tokens, and future recovery values depend on whether additional funds enter it.
DFX claims open for April 1 exploit victims
Drift says in its October 1 announcement that users with verified losses from the April 1 exploit can claim DFX at one token per USDT of loss.
DFX gives holders a proportional entitlement to the Recovery Pool. It is redeemable for USDT at the rate available at redemption, not at a fixed value set when the claim is made, so holding the token leaves its eventual value exposed to changes in the pool and the number of outstanding tokens.
A 3.1 million USDT pool sets the opening redemption near 1%
Drift fixed total DFX supply at 299,500,810.998 tokens. Its stated redemption calculation divides the Recovery Pool balance by the outstanding DFX supply, so the approximately 3.1 million USDT available at launch produced a redemption value near 0.0104 USDT per token.
Crypto.news reported that this equated to roughly 1.04% of verified losses at the initial rate. For a user with 1,000 USDT in verified losses, the corresponding allocation would be 1,000 DFX and an initial redemption worth approximately 10.4 USDT at that rate.
Redeemed DFX is permanently burned. The token used for a payout therefore no longer has a claim on funds added to the pool later, a mechanism that differentiates an immediate partial redemption from holding DFX for a potential future increase in the pool’s value per outstanding token.
Official illustrative graphic explaining DFX recovery-token redemption mechanics. — Source: Drift
First-day activity shows limited revenue inflow
On October 2, The Block reported that users had redeemed 216,480 DFX for roughly 2,250 USDT while the Recovery Pool stood at about 3.11 million USDT. The Block also reported that roughly 31 USDT had reached the pool through the first day’s protocol-revenue contribution, indicating that launch-day payouts were principally supported by the existing Recovery Pool balance rather than fresh protocol revenue.
DFX’s redemption value is not static because it depends on the Recovery Pool balance and outstanding DFX supply: deposits can increase the numerator, while redemptions remove tokens from the outstanding supply after the associated USDT is paid out.
Future recoveries depend on Velocity revenue, support and fund returns
Drift said it plans to replenish the Recovery Pool through daily contributions from Velocity’s net protocol revenue. It also identified up to 127.5 million USDT in Tether support, up to 20 million USDT from strategic partners, and any stolen funds that are recovered as intended sources for the pool.
The announced amounts are potential funding sources, not a statement that the pool has already received them. The eventual recovery rate will depend on the size and timing of those contributions, any recovered funds, and how many DFX remain outstanding when deposits occur.
The claim window closes at 00:00 UTC on January 1, 2028, Drift said. Any DFX not claimed by that deadline will be permanently burned.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
原文: https://cryptodaily.co.uk/2026/10/drift-dfx-recovery-claims-initial-redemption
