Drift Foundation opened claims and redemptions on October 1 for DFX, a Solana recovery token allocated to users affected by the exchange’s April 1 exploit. Each verified USDT of loss entitles an affected wallet to one DFX, but that does not mean immediate dollar-for-dollar repayment.

Drift’s announcement puts launch redemption at approximately 0.0104 USDT per DFX, or roughly one cent for each dollar lost. It describes a Recovery Pool holding about 3.1 million USDT against a fixed supply of approximately 299.5 million DFX. Unchained independently reported the opening and those initial figures.

How recovery works

The redemption amount equals the pool’s balance divided by outstanding DFX. Redeeming burns tokens and pays USDT in a single transaction; the redemption is final. Holders can instead retain or transfer their tokens, including trading them on secondary markets.

Future funding is tied partly to daily revenue from Velocity, the rebuilt exchange. Drift says contributions apply in tiers: 60% of the first 30,000 USDT of daily net protocol revenue, 70% of the next 70,000, and 90% above 100,000.

The announcement also lists commitments of up to 127.5 million USDT from Tether and up to 20 million from strategic partners. Those commitments are distinct from the pool’s stated launch balance; recovered stolen funds would also support repayment.

Claim deadline

Claims must originate from the wallet that controlled the affected Drift account on April 1. The window closes at 00:00 UTC on January 1, 2028, after which unclaimed DFX will be burned.

The launch creates a functioning recovery mechanism, not a promise of full reimbursement. Eventual proceeds depend on subsequent funding and the remaining token supply.