On-chain perps, settled in USDT. Trade. Hedge. Earn. Open beta, now for everyone. Promo: 2 bps trading fees and 20% on every referral
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Today, Drift is rebranding to Velocity.
Our new name reflects the new and improved platform that we are building. Perpetual trading is a market where execution speed and directional precision determine outcomes. Velocity captures both, and signifies the momentum behind our relaunch.
The rebrand marks a deliberate line between what was and what comes next. Velocity is the exchange we have been building toward — a cleaner architecture, a stronger security foundation, and a clearer sense of what this platform is for. The name carries that intent.
As Velocity continues building towards relaunch, we are also planning to release our private Beta to select partners and traders in the coming days. This is an important step towards ensuring Velocity is rebuilt into the most robust perps exchange on Solana.
We look forward to sharing more soon.
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This week, Velocity Beta opened to everyone.
→ ZEC-PERP went live at up to 10x, and ZEC joined SOL, wBTC, wETH, and USDT as collateral.
→ Every account at 2 bps for a limited time, and referrers earn 20% of their referrals' fees.
Trade Now → app.velocity.exchange
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Trade with what you hold.
SOL, wBTC, wETH, ZEC, or USDT count as collateral.
One deposit backs every market you trade.
Multi-collateral by design. Settled in USDT.
Trade Now → app.velocity.exchange
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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...
NEW LISTING: ZEC-PERP is now live on Velocity Beta.
Long or short Zcash up to 10x. Deposit ZEC and use it as collateral, or post wBTC, wETH, SOL, or USDT.
2 bps fees for every account for a limited time.
Trade Now → app.velocity.exchange/ZEC-PE…
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NEW LISTING: ZEC-PERP is now live on Velocity Beta.
Long or short Zcash up to 10x. Deposit ZEC and use it as collateral, or post wBTC, wETH, SOL, or USDT.
2 bps fees for every account for a limited time.
Trade Now → app.velocity.exchange/ZEC-PE…
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1/ The whitelist is off. Velocity Beta is now open to everyone.
wBTC, wETH, SOL, and USDT count as collateral in one account.
2 bps, the lowest tier we charge, for a limited time. Trade Now → velocity.exchange
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4/ Hedge with the crypto you hold.
wBTC, wETH, SOL, and USDT all count as collateral in one account. Up to 20x on select perps. Settled on-chain, in USDT.
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Signed up for the Velocity Beta yet?
For a limited time only: 2 bps fees and a 20% referral bonus.
docs.google.com/forms/d/e/1F…
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Audit done, code open, protocol leaner. That is the bar we set before opening to everyone, and everything built after this rests on it: the product, the programs, the partnerships. The beta opens in the coming days.
1/ Velocity completes its audit with @osec_io. The protocol is now open source, leaner, and safer. The full report and source code are now public.
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happy open source day lads, been a grind to get till here and it’s just first of many milestones as we try rebuilding. if you got time, please check out new program and feel free to reach out if you have any feedback!
expect a lot more big protocol features to come :)
1/ Velocity completes its audit with @osec_io. The protocol is now open source, leaner, and safer. The full report and source code are now public.
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Velocity retweeted
Huge milestone. Fully audited and ready to go. Big thanks to the folks at @asymmetric_re and @osec_io for the herculean effort of reviewing from scratch what is probably one of the largest feature-rich programs on Solana.
For those who have been asking why this took so long, you can have a look at the repo now.
We've made a number of changes and improvements, as well as combing over the existing code for safety. You cannot rush safety, and I pushed back on the "wen!" comments for precisely this reason. Velocity needs to win back your trust. Part of that is a commitment to doing things the right way.
Now that we have a strong foundation, excited to improve Velocity to have the best market microstructure.
Step 1. Relaunch what we had.
Step 2. Make it extremely competitive with new innovations.
Onward! 🫡
1/ Velocity completes its audit with @osec_io. The protocol is now open source, leaner, and safer. The full report and source code are now public.
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1/ Velocity completes its audit with @osec_io. The protocol is now open source, leaner, and safer. The full report and source code are now public.
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3/ What changed under the hood: a protocol simplified around perps, admin control split into tiers with time-locked multisigs and outside signers, and every fee split by rule and written on-chain. One standard from here: an outside firm reviews everything that reaches users.
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4/ The beta opens to everyone in the coming days. Trade, Hedge, Earn at Velocity.Exchange
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3/ Beta participants trade at our lowest fee tier of 0.02% for a limited time and earn 20% on every referral they bring, for life. Not on the list yet? Sign-ups are still open → forms.gle/rrJQ9hXeEt6emNBr9
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4/ Join the Velocity Discord community channel here: discord.gg/dquuCEgQp
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