Thanks to @GotmLabz for their amazing suite of solutions, both our NFT collections - Vtopia Gen 1 and Vtopia Gen 0, have now been migrated to their new cutting-edge platform.
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If you are launching a memecoin on RoboLaunch, just tag us with the CA and we will support you like we support ALL creators on our platform! ๐
Have fun and good luck!
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@vtopiaio RoboLaunch is now live!
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I'm seeing lots of "why are you putting money into rebrand you should be repaying users"
Because I expect to see "why spending money?!" every step of the way, I want to make this very clear. The Tether deal is *not* a bailout. They are not just chucking money into the recovery pool. Tether is a business, not a charity. They are acting as a line of credit.
Tether wants a top perp exchange running on USDT. I do not know the actual terms of the deal (I'm not on those conversations) but my understanding is that it's a line-of-credit matching of revenue that flows into the recovery pool. It all needs to be paid back (the full ~$300m). The credit just accelerates the payback, and leaves the protocol in debt to Tether rather than users if we get enough revenue. The important upshot: Users get $0 in Tether money unless there's revenue.
The structure of the deal is intentional. Tether wants the best route to repaying users to be building a top perp exchange. Not a straight bailout with their money.
What does this mean for users? It means your best chance of getting your money back is Velocity making revenue. If we throw every cent of runway we have into the recovery pool, you'll get $0 of Tether credit, and hardly any recovery pool $.
The best way out is through. And through means proper rebranding, relaunch, and all of the hard work that goes with launching a perps dex.
Today, Drift is rebranding to Velocity.
Our new name reflects the new and improved platform that we are building. Perpetual trading is a market where execution speed and directional precision determine outcomes. Velocity captures both, and signifies the momentum behind our relaunch.
The rebrand marks a deliberate line between what was and what comes next. Velocity is the exchange we have been building toward โ a cleaner architecture, a stronger security foundation, and a clearer sense of what this platform is for. The name carries that intent.
As Velocity continues building towards relaunch, we are also planning to release our private Beta to select partners and traders in the coming days. This is an important step towards ensuring Velocity is rebuilt into the most robust perps exchange on Solana.
We look forward to sharing more soon.
Memecoin launches used to be built for teams with devs, contracts, and launch playbooks.
@vtopiaio is changing that with RoboLaunch.
RoboLaunch is a creator-focused token launch platform built around RoboStudio, an AI launch studio where creators can chat with AI, shape a token idea, and bring it to market in seconds.
No complicated setup.
No endless backend decisions.
Just an idea, an AI-guided launch flow, and a platform designed to help creators earn from what they build.
Vtopia is betting the next wave of onchain markets will come from creators and communities.
RoboLaunch gives them the button.
Know more on https://t.co/1UHNjXdSbb and tune in to their live show at 12:00 pm EST.
Disclaimer: This content was produced in collaboration with the client and is intended for informational purposes only. It does not constitute financial or investment advice. Always conduct your own research before making any financial decisions, especially in highly volatile markets like crypto.
@redacted_noah haha, that is a good question about NK. Yeah defilama is showing the large balance as all in SOL. They must be tracking some kind of legacy address or something that isn't tied to Drift.
Yeah please don't waste your time on DL. Thanks for your work on Drift
@redacted_noah@redacted_noah basically why are these funds not considered part of the protocal TVL? (and thanks for your time on this question. But this is unclear to many in the community. Is the team suggesting this is inaccessible insurance funds or something else?)
@redacted_noah this was a $500M TVL protocol before the exploit I thought. About $285M was taken. Where is the other $215M? Was more than $285M taken? I think that is where a lot of people are confused.
@redacted_noah And this is not true. If unclaimed tokens are burned, there are no tokens left for the redemption value to increase for remaining holders.
And why only 365 days? revenue in 2025 was only $60M apparently, not nearly close enough to materially close the gap on $295M lost
@redacted_noah $290M was stolen and that should have left $250M remaining (before any token price changes). Certainly the recovery fund should be seeded with $200M +??