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      Drift Foundation responds to community concerns: DFX is not pegged to USDT, redemption value depends on Recovery Pool balance

      PANews reported on October 5 that the Drift Foundation posted on X to respond to community concerns, stating that DFX is not pegged to 1 USDT. For every 1 USDT of confirmed loss, users will receive 1 DFX, and the final redemption value depends on the balance of the Recovery Pool at that time.

      The Drift Foundation stated that the Recovery Pool currently covers about 1% of the total claim amount. Users can choose to redeem DFX, or continue holding DFX and retain the right to claim future inflows into the Recovery Pool, or trade it on the secondary market (such as Raydium).

      In addition, the Drift Foundation said that Tether has committed to providing up to $127.5 million in USDT to support the Velocity restart and user compensation, but the funds will not arrive all at once; instead, they will be matched against Velocity's net protocol revenue. Furthermore, the January 1, 2028 deadline applies only to claiming DFX, and DFX that has already been claimed will not be destroyed; if a user's claim previously failed, their allocation remains valid and they can try to claim again.

      Previous report: Drift opened compensation claims for the theft, with the first payout rate at about 1% of losses.


      Source: PANews
      .

      Terra Founder Do Kwon Sentenced to 15 Years in Prison for Fraud