Drift is a decentralized exchange for spot swaps and perpetual futures on Solana. The protocol was launch by Cindy Loew in August 2021.
On Drift, users can trade derivatives, earn deposit yield, stake, and provide liquidity. Drift v1, deprecated in May 2022, was a dynamic automated market maker using curve re-pegging and adjustable liquidty. Drift v2, expected to launch in September 2022, introduced just-in-time liquidity mechanism and passive liquidity pool. Liquidity providers on Drift earn transaction fees and funding rates.
Drift Protocol earns a portion of the trading fee on its exchanges. The protocol does not have any governance token yet. Drift's investors include Multicoin Capital, Alameda Research, Jump Capital, LedgerPrime, Not3Lau Capital, QCP Capital, Robot Ventures, and ROK Capital, among others