What is drift protocol?

At the application level, Drift Protocol is adecentralized exchange that supports low slippage, low fees, and minimal price impact on all trades. Drift offers four primary products: What is Spot Margin Trading? What are Perpetual Futures? What is Borrow & Lend?

How does drift work?

All market trades (spot and perpetual) that are placed on Drift are routed through ashort-term auction (default is ~ 5 seconds). During this period, market-makers can bid to fill the order at or better than the auction price, providing 'Just-in-Time Liquidity' as the fulfilment is provided for the market order submitted.

What is crypto & how does it work?

Crypto are digital assets —they have no tangible form. Cryptocurrencies exist and operate on a public ledger called a blockchain, which records all crypto transactions. Blockchain encryption is designed to make all transactions immutable and secure from tampering, counterfeit, and other forms of fraudulent transactions.

What is drift V2?

Our Just-In-Time Auction mechanism allows Makers to step in and fill your orders at better prices. Drift v2 achieves a more balanced long-short open interest resulting in more symmetrical payouts for winners and losers, regardless of price action. Discover bugs or vulnerabilities and get paid up to $500,000 USD. Our protocol code is open source.