The money will be used by Drift to recover user funds after more than $270 million in clients assets were exploited this month, and will relaunch the protocol as a USDT-based perpetuals DEX on Solana. Tether proposes up to $127.5 million, and other partners propose up to $20 million, to back the recovery of user funds and the protocol's relaunch. Drift to use USDT as its core settlement layer, with incentives and liquidity support, replacing Circle's USDC. The revenue-linked structure…
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