Drift Foundation Launches $8.2 Million Ecosystem Fund to Fuel Growth
CryptoNewsTerminal Staff15 Sep, 2024
Drift Foundation Launches $8.2 Million Ecosystem Fund to Fuel Growth
The Drift Foundation, the entity behind the Solana-based perpetual futures decentralized exchange (DEX) Drift Protocol, has launched an 8.2 million DRIFT ecosystem fund. The fund, which is worth approximately $5.3 million at current prices, will be used to fuel the growth and adoption of the Drift protocol. The fund was approved by a community vote and will be called the 'Drift FUEL Fund.' The specific use cases and allocation methods for the fund will be determined via future governance votes. The Drift Foundation is a non-profit organization that is dedicated to the development and promotion of the Drift protocol. The foundation is supported by a team of experienced professionals with a deep understanding of the cryptocurrency and blockchain industries.
