You are here
Home > DeFi > Drift – a crypto trading protocol relaunches into the Solana DeFi landscape after 8 months of absence

Drift – a crypto trading protocol relaunches into the Solana DeFi landscape after 8 months of absence

Solana’s decentralized finance (DeFi) scene is set to welcome the return of a long-absent player as Drift, a Solana-based perpetual swaps trading protocol goes live with its revamped and feature-rich second version on Friday. 

Drift v2 brings more than just the traditional derivatives trading that was popular during the 2021-2022 bull run; it hopes to become Solana’s one-stop shop for many of the transaction types offered in DeFi ecosystems. With few Solana DeFi services currently available, Drift’s re-emergence is viewed as a potential opportunity to grow and expand Solana’s development landscape.

Drift’s novel liquidation technology is a significant focus of the protocol’s team, who are now pushing for a redo after being bailed out during the bear market. This technology is essential for Drift to measure whether existing traders are willing to trust it, and the team of over 20 people believes that their liquidation tech is one of the best on the market. Drift’s confidence in its capabilities shows why it is among the industry leaders in utilizing modern technology for financial products.

A complex method for trading has been developed to limit slippage and decrease the gap between expected price and actual trade. Volatility can pose a significant risk when it comes to big orders and liquidations, making revamping essential to avoid any significant damage. Revamp allows levered users’ bets to stay secure as market conditions fluctuate, providing an efficient way of managing trades and liquidity.

After the FTX collapse, Drift v2 aims to take advantage of the lack of market competition by offering its customers a comprehensive suite of products and services. In addition to its original focus of perpetual swap trading, Drift v2 plans to support spot trading, borrow and lending options, and asset pool staking.

Related Article  PEPE Coin Upward Market Trend Ranks This Popular Meme Coin In The Top 100 Cryptos

Leave a Reply