Drift Draw
Important Note: This product is in beta and undergoing testing/iteration before being formally launched. The product has been made available to you for further improvement and feedback and may not be available in certain regions. Please check that you comply with Platform terms before proceeding.
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We're thrilled to unveil Drift Draw! A month-long weekly draw where you can win prizes. All you have to do is Connect to Drift and opt in to be eligible for the draw.
With Drift Draw, every $1 of taker volume you can earn you up to 10 tickets for the draw (which is based on the fee tier). The more you trade, the more tickets you accumulate, the higher your chances of winning the prize!
The prize is drawn directly from the fees collected in the protocol owned portion of the Insurance Fund throughout the week. That means the more you trade, the bigger the prize for you to win.
Each week, randomly selected winners have a chance of splitting 1 of 3 prizes. Winnings will land in your USDC Insurance Fund (IF) Vault and will continue to earn yield until you choose to unstake and withdraw.
Note: The withdrawal process from the IF vault takes approximately 13 days to complete.
For a complete deep dive into the mechanisms underlying Drift Draw, please visit the Github wiki.
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To be eligible for the draw, you just need to opt in and youโll be all set! You only need to do this once and youโre automatically eligible for each draw in the following weeks.
Every draw uses Switchboard Functions to query on-demand verifiable randomness.
To get you started, we're gifting you one FREE ticket as soon as you opt in. This way, you have a shot at winning without even taking a trade. If you're keen on boosting your chances, then thereโs no better way to increase your odd than to start trading!
You can collect up to 100m tickets.
Prizes for each week are funded by the protocol owned portion (stake) of a USDC Insurance Fund, meaning prize amounts will be dependent on fees collected each week and over time can continue to grow!
There are 3 distinct prize pools each week, each with their own set of odds. Every Monday at 2pm UTC, one of the prizes will be randomly selected and split amongst 3 lucky winners, with the allocation as follows:
- First Place: 50%๏ปฟ
- Second Place: 20%
- Third Place: 15%
If you've won one of the top 3 placed prizes and had your moment in the spotlight, your ticket count will reset to ensure fairness in subsequent draws.
Moreover, prizes that were not selected that week will be carried over to grow the following week's prizes โ sweetening the deal for all future participants.
Up to 30 randomly chosen users will share the remaining 15%. Even at the lowest prize tier, in the first week, this could be enough to treat yourself to a cup of coffee!
Prize Odds: (assuming max prize is 10,000, see source code or wiki for exact formulation)
Prize Bucket (NAV) | Odds |
1,000 | 16 in 21 |
5,000 | 4 in 21 |
10,000 | 1 in 21 |
On Monday at 2pm UTC, consider if the top prize bucket got randomly selected, for a staked value of ~10,000 USDC, and would be distributed as follows:
- First Place (50%): One lucky winner receives ~5,000 USDC
- Second Place (20%): The runner-up receives ~2,000 USDC
- Third Place (15%): The third place winner receives ~1,500 USDC
- Consolation Prizes (15%): up to 30 users evenly share ~1,500 USDC, thatโs ~50 USDC each
If a particular week wasn't your lucky charm, you'll see half of your hard-earned tickets carried over to the following week, amplifying your chances to win in subsequent rounds.
