Among the many new markets coming soon, ZEC is launching first. Trade ZEC perpetuals or use it as collateral across our entire perp lineup. Plus, enjoy a promotional 2 bps trading fee across all perp markets while it lasts. More listings coming soon...

The beta is now open to everyone!

Every line of code audited. Big thanks to @osec_io for working with us over the last 5+ months on this. Honestly, this is the milestone I cared about most. Before we built anything new, we removed redundant code. Velocity is built around perps and capital efficiency. Every part of the protocol serves that, including spot and borrow/lend: your collateral earns while it backs your position. Smaller surface, faster audits, and you shouldn't need a walkthrough to understand what you're looking at the first time you open it. The audit closes the loop: the code does what it says it does, and the exchange behaves the way we say it does. From here on, nothing hits mainnet without an audit. What's coming next: - The exchange is now open to a wider group of traders for beta testing. After a few more weeks of beta, we'll announce the public launch and open to everyone. - DFX claim and redemption opens for affected users - We're improving order flows to be snappier and more reliable, with fewer surprises. - We're diversifying the markets on the exchange, including equities and commodities perps. - And many more features lined up that we're excited to show you. To my fellow Velocity team members: a big shout out to each and every one of you for working through audit findings over multiple long nights and pushing the exchange through beta. We made it this far because of you. To our users: thank you for bearing with us. Each step we open is one we've tested and stand behind. Security first, then everything else. See you at public launch.

After months of heads-down rebuilding, we're expanding Velocity’s Private Beta. Every line of the protocol has been fully audited (report dropping soon), and our risk engine has been rigorously reviewed and refined by top independent consultants. With exchange liquidity ramping up in the coming days, we’re ready to open the doors to a wider group of traders. We want to gather your feedback and stress-test the system before our public launch. Please come try it out. All product feedback is welcome

On this checker, users can view: • DFX allocation • Insurance Fund claim eligibility Checker: dfx.drift.trade

We been testing a new feature...especially for markets like these More on this soon⏳

Over the past year leading Product at @DriftProtocol, we’ve spent most of our time shipping in production and learning from real usage rather than theory. This piece captures a snapshot of what we’ve built so far and the principles guiding those decisions. I’m proud of the progress the team has made across areas like capital efficiency, composability, and execution quality, and of a number of concrete improvements we’ve shipped along the way. That includes SWIFT for gasless trading, our JIT auction mechanism, custom leverage per market, and other upgrades that came directly from observing real user activity and market edge cases onchain. Supporting multiple liquidity models under one protocol has been a pragmatic choice for us. Different flows behave differently, and we’ve found that flexibility at the protocol level matters if you want to serve them well. We’ve also stayed closely aligned with Solana as the underlying infrastructure continues to improve on latency and performance, and we expect those improvements to keep showing up in Drift’s trading outcomes over time as well. That said, Drift is very much still a work in progress. There’s a long way to go, and plenty of things we can always do better to further improve user experience. Drift's loyal trading community has been the lifeblood of the platform through thick and thin. We’re keen to keep learning from users, builders, and market participants, and would genuinely welcome feedback as we continue iterating. Our DMs are always open for support, feedback and suggestions. Back to keeping our heads down and shipping.

Introducing: Drift v3 Drift has built through bull and bear to deliver one thing: a better trading experience. Today, Drift v3 goes live. A modern redesign with 10x faster execution. Built to outperform.

Crypto markets suffered a $20B drawdown yesterday after Trump's surprise tariff announcement, which spiralled into one of the most severe 1-day drawdowns in all of crypto's history Many have asked how @DriftProtocol's risk engines performed, and I want to highlight how Drift has always puts users first and handles risk and liquidations differently from other exchanges: 1. Drift does not have an ADL (auto-deleveraging system) - it has a risk waterfalling system to socialize losses among everyone remaining in positions pro rata by size. Yesterday, the vAMM reserves and insurance fund successfully covered all user losses, so no positions were deleveraged 2. Drift also has one of the largest Insurance Fund to Open Interest ratios across all Perp DEXes with $50m to support $500m+ in open interest, giving a huge buffer for the protocol to support bad debt 3. Even though we are a cross-collateralised exchange, our risk engine managed to do $76m in liquidations with no user losses 4. Solana and Drift experienced zero downtime, with Solana crushing it with record TPS yesterday of 3200+. 5. Drift's fee pools covered all losses, and there was no bad debt incurred for users. It’s been a challenging day for the industry, but moments like this underscore the importance of robust design for exchanges that always puts users first Up

Correction: The previously cited $18K in socialized losses was inaccurate. In reality, all uncovered payments were absorbed by Drift’s vAMM fee pools with no users exposed.

In the past 24 hours, crypto markets experienced one of the largest flushes in recent history. This was a true stress test for risk systems across the ecosystem, including Drift. Amid this extreme volatility, Drift processed over $76 Million in liquidations across both perpetual and spot markets, incurring just $18K (~0.02%) in socialised losses and maintaining zero downtime throughout. Drift’s risk engine ensured orderly markets and user protection through prudent liquidation parameters, a robust Insurance Fund, and multiple loss-mitigation mechanisms. Insurance Fund (IF) depositors earned $600K from the liquidation activity. The IF continues to reinforce protocol stability while providing sustainable yield opportunities for participants underwriting protocol risk.

Drift is in full growth mode. In Asia, there’s a saying about bamboo: it spends 4 years building roots underground, then in the 5th year, it shoots up almost a meter a day, reaching 25m tall. Real growth takes time. Foundations come first, then explosive results. 2025 Q2: sharpened trade execution + app performance 2025 Q3: shipping CEX-grade trading UX (two major features highlighted here: nitter.net/crispheaney/status/196… 2025 Q4: Expansion. Growing user base So far, most of the volume growth came from existing traders. Next, it's about scaling users. More users → more volume → deeper liquidity → less slippage → more users. And the cycle goes on. Coincidentally, Drift is in its 4th year (v1 + v2). Foundation is getting stronger day by day. Soon, we will shoot up a meter a day.

🚨 Drift is hiring a QA engineer 🚨 You'll work with our dev/product team to make sure we maintain a an world-class trading experience while we aggressively iterate on product Potentially a great way for a junior dev to earn full time role Link below 👇 dm me 📨

Breaking down what "capital-efficiency" means on Drift I've been trading in capital and crypto markets for nearly a decade, and the universal principles are all the same: to always be maximising yield on holdings & minimizing your cost of capital. Since day one, Drift's core focus has been building products that are capital-efficient and can generate sustainable wealth for our users. I want to dial in on what "capital efficiency" actually means: 1. Capital never sits idle Drift automatically generates yield from its borrow/lend platform on your idle capital. When you use capital as collateral for trading, it still continues to earn yield. Take syrupUSDC as an example: deposit it to trade perps and you'll continue earning ~12% APY even while holding your BTC long. It simply maximizes returns across the board. USDC earns you 8%+, which you can benefit from whether or not you're in a trade. 2. Cross-collateral flexibility Drift is one of the few platforms in all of crypto offering any asset as collateral. Deposit any of the 40+ supported collaterals to trade in any perp market we offer. If you're long-term bullish on SOL but want to trade BTC price movements on other platforms, you'd have to exit SOL → USDC → BTC, losing your SOL upside. On Drift, you stay exposed to SOL's potential while trading market swings across other (BTC) markets. 3. Zero-fee markets Two of our leading markets, BTC and ETH are now zero fees! A trader with just $1,000 can open $100k positions multiple times daily, trading millions in monthly volume on BTC/ETH markets, and would still pay $0 in fees. 4. Up to 101x leverage We offer 101x leverage on our leading markets (SOL, ETH, BTC), giving traders flexibility to trade with massive conviction. Drift democratizes leverage for traders of all sizes -- you need less than $1,500 to trade 1 full Bitcoin on Drift. 5. Unique Trading Setups There are many unique opoprtunities that are enabled by our capital-efficient market structure, such as arbitraging funding rates, running delta-neutral strategies, cross-platform lending, and looping strategies. For instance, you can run a delta-neutral trade by just depositing spot BTC and short BTC-PERP against it, capturing a funding rate. Our recent syrupUSDC listing with @maplefinance perfectly illustrates this, where traders are now using syrupUSDC as collateral across 50+ markets while accessing THREE yield sources: - Underlying stablecoin yield - Lending/borrowing yield on Drift - Share of $100k incentive pool This is our broader mission: unlocking capital-efficient, yield-accretive pathways for DeFi users onchain. The Future As competition increases, users win and innovation accelerates. The Drift team is heads-down building the best trader experience, building in public from the heart of capital markets' future - on @Solana. - Cindy

USDC can't be any juicier than this👀 Only on Drift you can: ✅ earn high APY on your deposits ✅ use deposits as collateral for perp trading