$150 million recovery plan restores Drift Protocol users’ funds after DeFi disruption

Users of Drift Protocol who lost access to funds during a recent disruption can now recover them, thanks to a $150 million recovery program funded by Tether and the Solana Foundation. The initiative directly restores financial access to affected individuals, marking a rare instance of centralized intervention in a decentralized finance environment. Tether, issuer of the $USDT stablecoin, is deploying the capital alongside the nonprofit behind the Solana blockchain to back the protocol’s relaunch. Drift Protocol, known for perpetual trading services, is a key component of Solana’s DeFi infrastructure. The recovery effort includes not only user reimbursements but also upgrades to security and technical systems to prevent future failures. As part of the broader initiative, Tether is expanding $USDT’s integration on Solana, aiming to boost liquidity and transfer efficiency across the network. The move strengthens Solana’s appeal to traders and developers amid ongoing industry challenges. The relaunch is expected to restore trading volume and confidence in the ecosystem. The $150 million recovery program restores trading activity and liquidity on Solana’s DeFi ecosystem.