Since the DRIFT Token Generation Event (TGE) in May 2024, 55.6% of total supply is now in circulation with all major investor cliffs passed. 

This article provides an updated view of DRIFT’s current token distribution. The token emission timeline remains as outlined pre-TGE. The Drift team is actively coordinating with data providers to ensure all public dashboards reflect accurate and up-to-date information.

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The DRIFT Token

The DRIFT governance token powers the leading perpetuals DEX on Solana, giving holders a voice in shaping the protocol’s future. Since inception, over 50% of total supply has been allocated to the community with distribution steadily transitioning into the hands of real users, traders and builders. With most tokens now circulating, DRIFT’s distribution reflects a protocol that has grown beyond its early stages into a mature, community-driven economy. 

Tokenomics Overview 

• Max Supply: 1,000,000,000 DRIFT (represents all circulating and non-circulating tokens).
• Total Circulating Cap: 750,000,000 DRIFT
• Current Circulating Supply: 555,713,264 DRIFT

Since TGE, DRIFT tokens are being distributed over a 5-year emission schedule. For more information, read here. 

Allocation Breakdown and % Unlocked

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Ecosystem & Trading: 43% (430,000,000 DRIFT) 

The Ecosystem & Trading Allocation drives user and community growth through trading rewards, liquidity incentives, and future airdrops, while funding developer tools and awareness initiatives to expand Drift’s reach.

16.3% of this allocation has been utilised for FUEL rewards (completed rewards program) which has been fully distributed in 2025. 

Launch Airdrop: 10% (100,000,000 DRIFT) 

This Allocation rewarded early Drift users in recognition of their historical contributions and was fully distributed in 2024 following the DRIFT airdrop. 

Protocol Development: 25% (250,000,000 DRIFT) 

The Protocol Development Allocation is reserved for current and future contributors building Drift’s products, infrastructure, and developer ecosystem. It also includes treasury funds for protocol development. NOTE: Team allocations are subject to an 18-month lock-up, followed by 18 months of vesting. 

Unlocked tokens are initially considered non-circulating, but it may enter circulation through governance-approved initiatives (e.g community grants, contributor programs)

50% of this allocation has been unlocked thus far. 

Strategic Participants: 22% (220,000,000 DRIFT) 

This allocation represents Drift’s long-term partners and investors who have supported the protocol’s development, infrastructure, and early growth. Drift has completed three funding rounds, with the most recent Series B raise in 2024.

As of November 2025, Drift has passed all major investor cliffs: 

• Seed: Fully unlocked
• Series A: Past the 1-year cliff, with ~50–75% now unlocked
• Series B: Linear, ongoing
  

With the major cliffs behind DRIFT, the remaining unlocks are slower, usage-driven emissions tied directly to protocol growth. 

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Protocol Growth Since TGE 

Since launch, Drift has achieved significant growth: 

• $120B+ in trading volume 
• $1.4B in total deposits across borrow/lend markets. 

Drift has expanded its product suite with: 

• Strategy Vaults: The largest structured product on Solana, with $298M in TVL
• Earn Products: Drift supports multi-asset collateral across 40+ tokens. Its earn suite now includes Isolated Pools, where risk is confined to individual pools, and Amplify, which automates recursive borrowing. Both allow users to earn competitive yields with greater capital efficiency.
• Drift Institutional: A white-glove service designed for institutions to maximise DeFi exposure, with early partners including Apollo and Securitize.
• Builder Codes: A program that enables developers to build on top of Drift and earn fees for contributing to the ecosystem.
• New Trading Experience: Per-market leverage lets traders fine-tune risk on each position, with the flexibility to switch seamlessly into cross-margin trading.

Drift is now preparing to launch Drift v3: the next evolution of perpetuals on Solana, focused on speed and performance. 

Participate in Governance 

Participate in the latest governance discussion surrounding the use of excess fees for the acquisition of DRIFT tokens: https://driftgov.discourse.group/t/community-discussion-exploring-future-use-of-protocol-fees/303 

The Drift Foundation remains focused on transparency, sustainable growth, and aligning token unlocks with product performance. Together, we continue to build the most capital-efficient and community-aligned perpetuals exchange on Solana.