Drift, a Solana-based decentralized exchange protocol for trading crypto perpetual futures, is set to launch and airdrop its "governance" token, DRIFT.

The DRIFT token will have a total supply of 1 billion, with 10% or 100 million tokens set to be distributed through an airdrop, Drift said Tuesday. The 100 million tokens will be airdropped to 180,000 of Drift's users based on their activity on the platform.

"Token generation event date and airdrop claim date will be announced later," Drift co-founder Cindy Leow told The Block, adding that the launch is expected in the coming weeks.

Drift has taken "multiple" snapshots over the past three years and has done "comprehensive activity analysis" for the token airdrop.

Multi-branch DAO

After the token launch, Drift said it will move towards …