Drift hack recovery opened near one cent per dollar lost

Drift Protocol opened claims and redemptions for its DFX recovery token on Oct. 1, giving victims of its April exploit a way to receive the USDT stablecoin from the Recovery Pool. The exit has a permanent tradeoff: redeemed tokens are burned and no longer share in future deposits.In its launch announcement, Drift described a payout of about 0.0104 USDT per DFX from a pool holding roughly 3.1 million USDT. Because victims receive one DFX for each USDT of verified loss, that launch rate represented about 1.04% of the corresponding loss. Those are Oct. 1 figures; a redemption pays the rate quoted when the transaction is made.DFX is a transferable token on Solana, separate from the DRIFT governance token. Drift sets its fixed allocation at 299,500,810.998 DFX, corresponding to nearly 299.5 million USDT of verified losses. Outstanding supply falls as tokens are burned.What redemption gives upThe USDT payment and DFX burn happen in one transaction: either both succeed or neither does. Drift says completed redemptions are final. If a holder redeems only part of their DFX, the tokens they keep continue participating in the pool.Future deposits are divided among the DFX that remain. Cashing...