Tether Commits $127.5 Million to Support Drift Protocol Recovery
Drift Protocol has partnered with Tether and other backers to support user recovery following the April 1 exploit. Tether plans to provide up to $127.5 million, with an additional $20 million from partners. The package includes a $100 million revenue-linked credit line, ecosystem grants, and loans for market makers. Most exchange revenue, along with committed support funds, will be used to establish a dedicated recovery pool aimed at covering $295 million in outstanding user losses.