Drift Protocol receives support from Tether and others to set up recovery pools

According to the official website of Drift, Drift Protocol has received support from Tether and others. Tether plans to invest $127 million, while other partners plan to invest $20 million to jointly support user recovery efforts after the April 1st attack. The support plan includes a $100 million revenue linked credit line, ecosystem grants, and loans provided to market makers. Drift will establish a user recovery pool to gradually resolve $295 million in unpaid user losses and issue transferable recovery tokens to affected users. During the protocol restart, Ottersec and Asymmetric have been hired for auditing, and the settlement layer has been migrated from USDC to USDT. The attack resulted in approximately $295 million in assets being stolen, but insurance funds were not affected.