2025-01-09
Drift Protocol is a decentralized
exchange (DEX) built on the Solana blockchain, specializing in perpetual
futures trading.
Launched in 2021, it has quickly become
one of the largest open-sourced perpetual futures exchanges, facilitating
transparent and non-custodial trading of cryptocurrencies while leveraging the
high-speed capabilities of Solana.
Drift has surpassed $1 billion in
total value locked (TVL) on Jan 6, 2025. Furthermore, Drift announced on Jan 6
that users can now use BONK as collateral on the platform.
On September 19, 2024, Drift Protocol
announced a $25 million Series B funding round led by Multicoin
Capital, with participation from Blockchain Capital, Primitive Ventures,
and Folius Ventures. This brings Drift's total funding to $52.5 million.
The funds will be used to develop a
comprehensive DeFi SuperApp on the Solana blockchain, offering a range
of financial services including spot trading, derivatives trading, and
prediction markets.
Drift aims to become the
"Robinhood of crypto" by providing a capital-efficient,
cross-margined platform for various trading activities.
Key Features of Drift Protocol
.
Additional Offerings
In addition to perpetual futures, Drift
Protocol has expanded its offerings to include:
Governance and Tokenomics
The native governance token of Drift Protocol is DRIFT, which plays a crucial role in the ecosystem. DRIFT holders can participate in the Drift DAO (Decentralized Autonomous Organization), voting on key decisions related to protocol upgrades and development initiatives.
Additionally, staking DRIFT tokens allows users to
earn rewards from protocol-generated fees.
Overall, Drift Protocol represents a
significant advancement in decentralized finance (DeFi) by combining innovative
trading products with a user-friendly interface on the Solana blockchain,
catering to both novice and experienced traders alike.