VelocityDEX launches private beta for whitelisted users after Drift rebrand

The team said the beta marks the first step toward building a Recovery Pool for users affected by the exploit.

Summary

VelocityDEX, formerly Drift Protocol, has launched a private beta for whitelisted users. The team said the release is the first step in building a Recovery Pool for users affected by the exploit, signaling an initial phase in its effort to address fallout from the incident while reopening platform access on a limited basis.

Terms & Concepts
  • private beta: Limited test release for selected users
  • Recovery Pool: Fund structure aimed at compensating affected users
  • exploit: Attack abusing a protocol vulnerability