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🔥Drift Protocol receives $147.5 million in funding support from Tether and others for user recovery
On April 16, Drift Protocol announced that it has received support from Tether and other partners, with Tether planning to invest $127.5 million and other partners planning to invest $20 million, jointly supporting user recovery efforts following the attack on April 1. The support plan includes a $100 million revenue-linked credit line, ecosystem grants, and loans to market makers. Drift will establish a dedicated user recovery pool aimed at gradually addressing the $295 million in outstanding user losses as trading revenue grows. Additionally, Drift …
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