New Discussion: Treatment of Remaining Assets in Borrow/Lend The new discussion covers: • Converting remaining borrow/lend spot assets into USDT for the recovery pool • Settlement methodology and treatment of user balances post-incident • Improving transparency, reporting, and governance oversight around implementation and recovery processes The objective is to support long-term protocol sustainability while improving transparency and governance standards following the April 1, 2026 incident.

Clarification: Users are able to redeem at any time after redemption opens; however, early redemption occurs at a discount to the full claim value as users receive a pro-rata share of the current pool. Holders who wait may benefit from a higher recovery price as the pool continues to grow.

Redemption will open once the pool exceeds $5M. Redemption Price = Recovery Fund Value ÷ Outstanding Recovery Token Supply Users are able to redeem at any time; redeeming early means that a user forfeits their remaining claim. Holders who wait may benefit as the pool grows.

Identifying a path towards recovery has been the sole focus since April 1. The collaboration with @tether and other partners gives us the resources to find that path on an accelerated timeline. The structure matters: in the initial phase of the collaboration, a substantial portion of exchange revenue, together with committed support capital, is intended to fund a dedicated user recovery pool. This collaboration is the first major step in rebuilding stronger than before. We’ve outlined important details in an Incident Recovery Update here:

After April 1, we put our heads down and committed to making this right for our users and partners. Today, we're announcing a collaboration with @tether and other partners, through which they are proposed to contribute up to $147.5 million combined to support user recovery and facilitate the Drift Protocol relaunch. The collaboration is structured around a clear, revenue-driven recovery mechanism designed to prioritize users from day one through a revenue-linked credit facility, an ecosystem grant, and loans to market-makers. During the initial phase of the collaboration, a substantial portion of exchange revenue, together with committed support capital, is intended to fund a dedicated user recovery pool. The willingness of @paoloardoino, Tether and our partners to commit real capital to Drift’s recovery says something about the strength of what we've built and what we're building next, as well as our shared vision to scale the Solana DeFi ecosystem together. We are committed to continuing to provide transparency rooted in accountability as we build Drift back stronger in the coming months, and have outlined initial steps towards relaunch and user recovery in this Incident Recovery Update: Full details from @DriftProtocol:

When the industry faces challenges, Tether steps up. 🛡️ We are leading an up to $150M recovery plan alongside the @SolanaFndn to support user recovery and safely relaunch @DriftProtocol Watch the video to see how we're protecting the community and expanding $USDT on Solana. 👇

Today, Drift is announcing a collaboration with @tether and other partners totaling up to nearly $150 million to support our commitment to a relaunch with USDT at the center, and a path to user recovery. These funds encompass a $100M revenue-linked credit facility, an ecosystem grant, and loans to market makers, designed to fund a dedicated user recovery pool. Learn more 👇

Witness the Perp Battle at the Drift Booth @ TOKEN2049 Traders go head-to-head in real-time with a funded account. Who will claim the highest PnL victory? Oct 1 11AM: @cindyleowtt v @sandraleow 3PM: @Elizabethofyou v @VictorCheng7 Oct 2 11AM: @hhjacks v @howdymerry 3PM: @sanlsrni v @viperr