Launching: Drift Grants

The conclusion of our Drift Bounty Program and the launch of Drift Grants, with USD$250,000 in grants available.

Conclusion of Bounty Program

31 January 2022 marked the end of our Drift Protocol x Solana Foundation Bounty Program. We had a widely successful campaign with 89 expressions of interest and 65 total bounty submissions.

Over USD$70,000 (of the USD$100,000 allocated) will be paid to contributing Drifters.

We wanted to pay you to build the platform you wanted; and that’s exactly what we did.

Given the size of the sum, and the depth & complexity of the submissions received, we will be taking some time to sort through and quality check the submissions. We’ll be in contact with the successful contributors over the coming weeks and we thank you for your patience while we finalise this process.

In the meantime (and off the success of the Bounty Program) we are launching a new initiative with the remainder of the funds (~USD$30,000) and topping it up with an additional USD$220,000 — bringing the total to USD$250,000.

This new program is called: “Drift Grants”.

Drift Grants

Overview

Drift Grants is our ongoing program aimed at cultivating, facilitating and incentivising the growth of Drift and its ecosystem. We’ve dedicated more time, more resources and more money to ensure that Drift becomes the number one decentralised futures exchange across all chains — as defined by its users.

The purpose of this new initiative is to provide an ongoing means for Difters to be equipped with the necessary resources to build their vision of Drift. If you have a great idea, we want to provide you with the funds to build it.

Rewards

The total amount available in grants is USD$250,000 — an increase from USD$100,000 for the Bounties Program.

What’s eligible for grant funding?

We’ve qualified five particular tasks for the Drift Grants program. These tasks were unfulfilled bounties that we think would still prove useful for Drift’s ecosystem if they were completed. They are:

  1. Rust SDK — $10,000;
  2. Funding Rate Arbitrage Bot — $5,000;
  3. Slippage Calculator — $3,500;
  4. Twitter Bot — $6,000; and
  5. Data Visualisation of Curve Mathematics — $3,000.

The remaining amount of USD$222,500 has been allocated to discretionary tasks that will be assessed on application. Features in particular that we’d be willing to fund (at a high cost as well) would be anything for the public good and development of the Drift and Solana ecosystems (e.g. building a new oracle or a decentralised frontend platform).

See the complete list of grants available via Airtable below:

Apply

All Drifters that wish to apply for a Drift Grant must do so by expressing their interest via this link. A Drift team member will reach out to you to discuss the parameters and timing of the grant selected.

Expression of Interest Form: https://airtable.com/shr7M1HMIMni5phT5.

We also have a dedicated channel in our Discord to discuss all things relevant to Drift Grants.

Rules

Drift Grants is run subject to the following Drift Grants Terms and Conditions and Drift Grants Rules.

About Drift Protocol

Drift brings on-chain, cross-margined perpetual futures to Solana. We’re making sure futures DEXs are the best way to trade perpetual futures across any platform.

🚨🚨 We are hiring 🚨🚨

Get in touch with us via email if any of the below roles suit you.

  • Frontend Engineer (Mobile)
  • Frontend Engineer
  • Smart Contract Engineer
  • Full Stack Engineer
  • Head of Community/Community Manager
  • Product Designer

View full list of available roles at Drift Protocol here.

Get In Touch!

Stay in touch with us as we journey towards becoming the #1 decentralised futures exchange across all chains!

🌐 Visit us at drift.trade 🌐

📩 Email us at hello@drift.trade 📩

💬 Connect with us on Discord 💬

👾 Find us on Twitter — @DriftProtocol 👾

🧵 Check out Drift Education on Substack 🧵

📺 Watch Drift Education on Youtube 📺

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Drift Protocol

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A scalable, decentralised, capital-efficient derivatives exchange built on Solana.

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