The post Tether Commits $127.5M to Drift Protocol Post Hack: How Will Affected Users Get Paid? appeared first on Coinpedia Fintech News
Fifteen days ago, North Korean operatives drained $295 million from Drift Protocol in twelve minutes. Today, Drift published its first credible answer for affected users – and the company backing it is Tether.
In a recovery update published April 16, Drift announced a collaboration with Tether and other partners to address the $295 million in outstanding user losses. Tether is proposed to contribute up to $127.5 million. Additional partners will contribute up to $20 million. The structure includes a $100 million revenue-linked credit facility, an ecosystem grant, and loans to market makers.
The gap between what is committed and what is owed is still $147.5 million. Users are betting on Drift’s future revenue to close it.
Drift Protocol Recovery Token: How Affected Users Get Paid Back
Drift will issue a dedicated recovery token to every
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