Drift opens DFX claims with initial recovery near 1%

The Drift Foundation opened claims for DFX recovery tokens on October 1 for users affected by the protocol’s April 1 exploit, with the initial redemption value set at about 1% of each user’s verified loss. The exploit caused approximately $295.4 million in reported losses, according to the foundation’s recovery framework and supplied coverage. Eligible users can claim one DFX for each USDT of verified losses. At launch, each token could be redeemed for about 0.0104 USDT, meaning a claim for $1,000 in verified losses would initially yield roughly $10.40 if redeemed. The token is separate from Drift’s DRIFT governance token, and redeemed DFX is burned as the corresponding USDT payment is made. The claims window is scheduled to remain open until January 1, 2028. The foundation says DFX left unclaimed after that deadline will be burned. Users may redeem their tokens or retain them for a possible share of future recovery funding; the amount available to token holders depends on the recovery pool’s balance and the number of DFX tokens still outstanding.