Dec 7, 2022Migration From Medium To Drift WebsiteWe’re moving to a new home! — A while ago we decided to release all new content — news, updates, learn guides and blog posts — on our newly revamped website: drift.trade. Our aim: Create a single point of contact for all things Drift. Here are our new links: Updates: all of our latest product updates and…2 min read2 min read
May 26, 2022Drift Protocol Technical Incident Report — 2022/05/11Background Drift Protocol is an open-sourced dynamic AMM (DAMM) and decentralised orderbook (DLOB) perpetual swap exchange built on Solana. Drift provides leveraged trading of perpetual contracts for top crypto-assets. Drift Protocol was paused on 2022/05/11 in response to a rapid increase in rate of the withdrawal of user funds. Drift successfully…19 min read19 min read
May 25, 2022Settlement ResolutionDrift’s announcement on 19 May 2022 promised an update today at 7:30pm UTC on the next steps of the resolution plan (i.e., Stage 2). In short, Drift has secured financing to cover the outstanding shortfall of $14.5mm in full. This amount, once credited to the redemption pool, will enable all…2 min read2 min read
May 20, 2022Redemption UI is LiveRoadmap for Stage 1 & 2 — On 16 May 2022 we published a post outlining the Drift Settlement Plan where a new user dashboard was promised to become available no later than 19:30 UTC 20th of May 2022. This is an announcement to follow up on that promise and to launch the redemption portal. …3 min read3 min read
May 16, 2022Drift Settlement PlanDrift Official Statement — 16 May 2022 — On 11 May 2022 UTC, Drift Protocol was halted for trading on discovery of a smart contract bug that enabled users to withdraw more collateral than they were entitled to. This resulted in a shortfall in the collateral vault, which at the time of writing exceeds the current insurance fund…8 min read8 min read
May 12, 2022Exchange Outage Incident & Smart Contract BugDrift Official Statement — 12 May 2022 — An update was promised yesterday for today at 1:30 pm PT / 8:30 PM UTC. Below is the latest on the outage and the next steps that are being taken to remedy it. At approximately 4:30PM UTC yesterday, the core developers observed unusual withdrawal behaviour on Drift. After further investigation…3 min read3 min read
May 10, 2022Announcing Maker Orders on Drift ProtocolActively provide liquidity on Drift and get paid for it! — Maker Orders are now live on Drift! Two months ago, Drift Protocol launched Limit Orders and heralded the first hybrid AMM-orderbook design with a novel decentralised limit orderbook (DLOB) in DeFi. Today, we announce the launch of Maker Orders. Maker Orders allow users to actively provide liquidity to the exchange…4 min read4 min read
Apr 12, 2022Drift Protocol — March 2022 Month-in-ReviewA review of Drift Protocol for the month of March — Hello fellow Drifters and welcome back to another monthly recap for Drift Protocol. To stay up to date with us in real-time, join us on Discord and Twitter. March Highlights Despite the prolonged crab market that was the majority of March, Drift Protocol saw an impressive increase in cumulative volume and monthly…3 min read3 min read
Mar 10, 2022Drift Protocol — February 2022 Month-in-ReviewA review of Drift Protocol for the month of February — Welcome back to another Drift Protocol monthly recap. To stay up to date in real-time, join us on Discord and Twitter. February Highlights Stats We had some great growth in February; but we’re not stopping there — we’re even more excited for what’s to come in March. In February, we had: Cumulative Volume…3 min read3 min read
Feb 23, 2022Drift Protocol Launches: Limit OrdersPowered by our novel hybrid Decentralised Limit Orderbook (DLOB) and our keeper bot network. — Drift Protocol is launching the most anticipated feature since our mainnet launch — limit orders! Limit orders on Drift are powered by a hybrid decentralised orderbook (DLOB) model that settles trades against our DAMM. Drift’s focus is building a feature-complete decentralised DEX, that uses crypto-native infrastructure built from the ground-up…7 min read7 min read
