Difference between revisions of "Drift (DRIFT)"
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(Created page with "Perp exchange on Solana ==Basics== *Based in: *Started in / Announced on: *Testnet release: *Mainnet release: ==History== ==Audits & Exploits== *Bug bounty program can be found [insert here]. ===Bugs/Exploits=== ==Governance== ===Admin Keys=== ===DAO=== ===Notable Governance Votes=== ===Treasury=== ==Token== ===Launch=== ===Token Allocation=== ===Inflation=== ===Utility=== ====Burns==== ===Other Details=== =...") |
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*Started in / Announced on: | *Started in / Announced on: | ||
*[[Testnet]] release: | *[[Testnet]] release: | ||
*[[Mainnet]] release: | *[[Mainnet]] release: [https://www.drift.trade/governance/introducing-the-drift-governance-token 2021] | ||
==History== | ==History== | ||
==Audits & Exploits== | ==Audits & Exploits== | ||
*[[bug bounty|Bug bounty]] program can be found [ | *[[bug bounty|Bug bounty]] program can be found [https://docs.drift.trade/security/bug-bounty here] (9-8-2024) up to $500.000. | ||
*V2 got [https://docs.drift.trade/security/audits audited] by Neodyme (10-5-2024). | |||
===Bugs/Exploits=== | ===Bugs/Exploits=== | ||
==Governance== | ==Governance== | ||
===Admin Keys=== | ===Admin Keys=== | ||
===DAO=== | ===DAO=== | ||
* From their [https://www.drift.trade/governance/introducing-the-drift-governance-token blog] (16-4-2024): | |||
''"The Drift DAO will be a first-of-its-kind, multi-branch DAO, consisting of a [[Realms]] DAO for general protocol development, a Security Council for governing protocol upgrades, and a [[Futarchy]] DAO for funding technical grants."'' | |||
===Notable Governance Votes=== | ===Notable Governance Votes=== | ||
===Treasury=== | ===Treasury=== | ||
[https://docs.drift.trade/insurance-fund/insurance-fund-intro Has] a [https://metrics.drift.trade/d/hQYFylo4k/insurance-fund-balance?orgId=1&from=now-30d&to=now Protocol Owned Insurance] [[wallet]] that has been steady climbing to about ~$3M (11-2024). Also has [https://metrics.drift.trade/d/27H9DCM4z/perp-market-metrics?orgId=1&refresh=1m&from=now-90d&to=now Protocol Owned Holdings] of about $20M. | |||
==Token== | ==Token== | ||
===Launch=== | ===Launch=== | ||
* [https://www.drift.trade/governance/introducing-the-drift-governance-token Announced] as a governance token (16-4-2024). | |||
===Token Allocation=== | ===Token Allocation=== | ||
* From their [https://www.drift.trade/governance/introducing-the-drift-governance-token announcement] (16-4-2024): | |||
[[File:661e68b80a10be7ce7003d40 Initial $DRIFT Token Allocation v6 (Cindy edits).png|left|thumb]] | |||
===Inflation=== | ===Inflation=== | ||
===Utility=== | ===Utility=== | ||
| Line 27: | Line 43: | ||
*Code can be viewed [insert here]. | *Code can be viewed [insert here]. | ||
*Built on [[Solana (SOL)|Solana]] | *Built on [[Solana (SOL)|Solana]] | ||
===How it works=== | ===How it works=== | ||
===Fees=== | ===Fees=== | ||
* A portion of the fees collected within the protocol (denominated in a particular token: USDC, SOL, etc) go into that spot market's [https://docs.drift.trade/about-v2/revenue-pool revenue pool]. | |||
===Upgrades=== | ===Upgrades=== | ||
===Staking=== | ===Staking=== | ||
====Validator Stats==== | ====Validator Stats==== | ||
===Other Details=== | ===Other Details=== | ||
==Oracle Method== | ==Oracle Method== | ||
* [[Pyth Network (PYTH)|Pyth]] is [https://docs.drift.trade/security/risks used] (9-8-2024). | |||
==Their Other Projects== | ==Their Other Projects== | ||
* Launched a [[Prediction Market|prediction market]] called BET. | |||
==Roadmap== | ==Roadmap== | ||
*Can be found [Insert link here]. | *Can be found [Insert link here]. | ||
==Revenue== | ==Revenue== | ||
==Usage== | ==Usage== | ||
* From their [https://www.drift.trade/governance/introducing-the-drift-governance-token blog] (16-4-2024): | |||
''"Starting with $1 million in Total Value Locked (TVL) and less than 100 daily active traders at the time of Drift's launch, Drift now has over $350 million in TVL, more than 175,000 traders, and a cumulative volume of $20+ billion."'' | |||
===Projects that use or built on it=== | ===Projects that use or built on it=== | ||
==Competition== | ==Competition== | ||
Perp DEXs like [[GMX (GMX)|GMX]], [[DYdX (DYDX)|dYdX]] and such. And [[Prediction Market|prediction markets]] like [[Polymarket]]. | |||
==Pros and Cons== | ==Pros and Cons== | ||
===Pros=== | ===Pros=== | ||
| Line 53: | Line 79: | ||
===Team=== | ===Team=== | ||
*Full team can be found [here]. | *Full team can be found [here]. | ||
*Cindy Leow and David Lu are the co-founders | |||
*The Foundation is led by Matt Shaw and its administrator is [https://www.webslinger.io/ Webslinger]. | |||
===Funding=== | ===Funding=== | ||
Announced a [https://www.drift.trade/updates/drifts-series-a-announcement $23.5m] Series A led by [[Polychain Capital]] with participation from the [[Solana (SOL)|Solana]] founders ([[Anatoly Yakovenko]] and [[Raj Gokal]]), [[Ethereal Ventures]] ([[Consensys]]) and Folius Ventures, bringing Drift’s total funding to date to $27.3m. | |||
* Raised $25M in a series B (19-9-2024): | |||
''"Series B led by @[[Multicoin Capital|multicoincap]] with participation from @[[Blockchain Capital|blockchaincap]], @[[Folius Ventures|FoliusVentures]], @[[Maelstrom|MaelstromFund]], and @primitivecrypto."'' | |||
* Announced a [https://www.drift.trade/updates/drifts-series-a-announcement $23.5m] Series A led by [[Polychain Capital]] with participation from the [[Solana (SOL)|Solana]] founders ([[Anatoly Yakovenko]] and [[Raj Gokal]]), [[Ethereal Ventures]] ([[Consensys]]) and Folius Ventures, bringing Drift’s total funding to date to $27.3m. | |||
===Partners=== | ===Partners=== | ||
| Line 62: | Line 95: | ||
Making these free wiki pages is fun but takes a lot of effort and time. | Making these free wiki pages is fun but takes a lot of effort and time. | ||
[[Solana (SOL)|SOL]] tip [[address]]: EWewBNBRpBgbECg76MmwSxpsyDsdJ8eua5UAD3VXtwKL | |||
[[Category:Exchange]] | [[Category:Exchange]] | ||
Latest revision as of 04:53, 11 November 2024
Basics
History
Audits & Exploits
- Bug bounty program can be found here (9-8-2024) up to $500.000.
- V2 got audited by Neodyme (10-5-2024).
Bugs/Exploits
Governance
Admin Keys
DAO
- From their blog (16-4-2024):
"The Drift DAO will be a first-of-its-kind, multi-branch DAO, consisting of a Realms DAO for general protocol development, a Security Council for governing protocol upgrades, and a Futarchy DAO for funding technical grants."
Notable Governance Votes
Treasury
Has a Protocol Owned Insurance wallet that has been steady climbing to about ~$3M (11-2024). Also has Protocol Owned Holdings of about $20M.
Token
Launch
- Announced as a governance token (16-4-2024).
Token Allocation
- From their announcement (16-4-2024):
.png)
Inflation
Utility
Burns
Other Details
Coin Distribution
Technology
- Whitepaper or docs can be found [insert here].
- Code can be viewed [insert here].
- Built on Solana
How it works
Fees
- A portion of the fees collected within the protocol (denominated in a particular token: USDC, SOL, etc) go into that spot market's revenue pool.
Upgrades
Staking
Validator Stats
Other Details
Oracle Method
Their Other Projects
- Launched a prediction market called BET.
Roadmap
- Can be found [Insert link here].
Revenue
Usage
- From their blog (16-4-2024):
"Starting with $1 million in Total Value Locked (TVL) and less than 100 daily active traders at the time of Drift's launch, Drift now has over $350 million in TVL, more than 175,000 traders, and a cumulative volume of $20+ billion."
Projects that use or built on it
Competition
Perp DEXs like GMX, dYdX and such. And prediction markets like Polymarket.
Pros and Cons
Pros
Cons
Team, Funding and Partners
Team
- Full team can be found [here].
- Cindy Leow and David Lu are the co-founders
- The Foundation is led by Matt Shaw and its administrator is Webslinger.
Funding
- Raised $25M in a series B (19-9-2024):
"Series B led by @multicoincap with participation from @blockchaincap, @FoliusVentures, @MaelstromFund, and @primitivecrypto."
- Announced a $23.5m Series A led by Polychain Capital with participation from the Solana founders (Anatoly Yakovenko and Raj Gokal), Ethereal Ventures (Consensys) and Folius Ventures, bringing Drift’s total funding to date to $27.3m.
Partners
(:
Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!
Making these free wiki pages is fun but takes a lot of effort and time.
SOL tip address: EWewBNBRpBgbECg76MmwSxpsyDsdJ8eua5UAD3VXtwKL
