This hoverboard doesn't have any unlockable upgrades.
Dragon is the eleventh limited hoverboard in Subway Surfers. Like any other hoverboard, it protects you from crashing for 30 seconds. When crashed, the hoverboard will explode and recharge a few seconds before it can be used again. To get it, players had to collect 60 (little dragons) at the final week of the Dragon Hunt. It has the appearance of a red and yellow dragon with a wavy body. It was released during the update.