Unveiling Drift: Your Gateway to Next-Level Trading on Solana.

20 min readMay 6, 2024

By Mfoniso Vel

Abstract:

In the rapidly evolving landscape of decentralized finance (DeFi), Drift emerges as a trailblazer, offering traders a cutting-edge platform for on-chain trading on the Solana blockchain. This article explores how Drift leverages Solana’s performance infrastructure to provide traders with unparalleled speed, scalability, and reliability, positioning itself as a central pillar of the Solana DeFi ecosystem. From its strategic advantages to its comprehensive suite of features and seamless integration with other Solana-based projects, Drift sets the stage for the future of decentralized trading.

Table of content.

Introduction.
Getting started on Drift.
Drift Trading: A Comprehensive Guide to Leveraging the Market.
Position Size and Leverage Selection with Drift Trade:
Opening a Position on Drift Trading.
Adjusting an Open Position in Drift.
Adjusting an Open Position in Drift.
Closing Positions on Drift trade.

Introduction:

Drift Protocol is a decentralised exchange, open-sourced and built on the Solana blockchain. In the dynamic world of decentralized finance, Drift stands out as a beacon of innovation, offering traders a seamless and efficient platform for on-chain trading on the Solana blockchain. As the leading decentralized exchange (DEX) on Solana, Drift is poised to revolutionize the way traders engage with DeFi, leveraging Solana’s performant infrastructure to deliver an unparalleled trading experience.

Getting started on Drift:

Phantom wallet setup :

1. Install Phantom wallet, on your preferred browser (Chrome, Brave, Firefox, Edge).

2. Ensure your Phantom Wallet has SOL and USDC or other assets to trade on Drift:

You can deposit SOL to cover trading fees directly from your Phantom wallet. If you don’t have SOL, you can buy it on an exchange and then withdraw it to your Phantom wallet. Once you have SOL in your wallet, you can swap any asset in your wallet for USDC or other accepted assets like SOL, BTC, and ETH, either within the Phantom interface or on Jupiter. These assets can be used as margin for cross-collateral deposits on Drift.

3. Connect Wallet.

Navigate to our trading page. On the top right side of the page, select Connect Wallet.

4. Deposit USDC on Drift:

Click on the "Deposit" button located next to the button you connected your wallet with and choose the amount you want to deposit.

You can change which asset you'd like to deposit by choosing your desired asset from the drop-down.

5. withdraw usdc from drift

If you want to withdraw from Drift, select "Withdraw" inside the same window you used to deposit and choose the amount you want to withdraw. Select the amount you want to withdraw and confirm the transaction.

You can enable Auto-Confirm in your Phantom wallet settings to streamline your transactions on Drift. Simply navigate to Phantom settings, click on "Connected Apps," select Drift, and toggle the "Auto-Confirm" option to "Active." With Auto-Confirm enabled, you can deposit, trade, borrow, and execute any transaction on Drift with just one click.

Metamask Setup:

CONNECT by Drift is an open-source wallet connector powered by MetaMask Snaps, enabling users to interact with any Solana dApp using their MetaMask wallet. Here’s a summary of the MetaMask setup process for Drift:

Connect MetaMask Wallet: Click "connect" in the top right corner and select MetaMask. If MetaMask is already installed, it will be automatically detected.
Install MetaMask Snaps: If it’s your first time interacting with MetaMask Snaps, you’ll be prompted to install it within MetaMask.
Connect to Drift: Next, connect to Drift via MetaMask Snaps. A new Solana-compatible wallet will be automatically created for you in MetaMask.
Fund Your Wallet: Add SOL for transaction fees and deposit collateral to Drift. You can use Mayan Cross Chain Swaps to bridge assets from your EVM wallet to your Solana wallet.
Deposit Collateral to Drift: Once funds are added to the wallet, you can deposit collateral to Drift for trading.
Manage Funds in MetaMask Solana Wallet: While MetaMask Snaps is in beta and doesn’t support viewing funds within MetaMask, you can view your MetaMask Solana Wallet balances within Drift.

Bot Wallet Setup:

To set up a bot wallet for Drift Protocol, you have two options:

Generate a Fresh Keypair:

Download and install the Solana CLI.
Generate a new keypair using the command: solana-keygen new -o new_keypair.json.
This creates a new keypair file named new_keypair.json containing the private key in JSON format.

2. Export Keypair from a Browser Wallet:

Alternatively, you can export the private key from an existing browser wallet like Phantom.

These methods provide bots with the necessary private key to sign transactions on Drift Protocol, either by generating a new keypair using the Solana CLI or exporting the private key from an existing browser wallet.

Drift Trading: A Comprehensive Guide to Leveraging the Market:

Traders using Drift can Focus on the strategy, and let Drift take care of the following position:

Drift trade Perpetual Features/Swaps:

Drift assists traders in making informed decisions by initially selecting the market of their preference, followed by opting for perpetuals, and ultimately deciding on their desired market.

Following that, traders can choose between Long (Buy) or Short (Sell) options from the top of the trading form, and subsequently select their preferred order type.

Drift extends both Market and Limit Orders, empowering traders to navigate risk prudently. For novices seeking simplicity, a Market Order aligns with purchasing the perpetual contract at its prevailing price. To explore the intricacies of Market Orders, refer to the comprehensive insights available under Order Types.

Position Size and Leverage Selection with Drift Trade:

Incorporating Drift Trade, follow these steps to determine your position size and leverage:

Input the desired amount of the underlying asset using the left text input field.
Alternatively, specify the amount of USDC collateral you wish to utilize using the right text input field.
Utilize the leverage slider or accompanying buttons to adjust your position size. Drift Trade ensures seamless execution.
The leverage slider automatically displays your leverage ratio, enhancing precision in trade execution.
Optionally, set your maximum allowable slippage for your position to further refine your strategy.

With these tools, Drift empowers traders to manage their positions effectively while optimizing leverage for maximum returns.

Opening a Position on Drift Trading:

As a trader utilizing Drift to initiate a position, simply click the button located at the bottom of the Trade form. This action triggers a confirmation modal, allowing you to thoroughly review the trade details for accuracy before proceeding. Once satisfied, you’ll be prompted to sign the transaction using your connected wallet, ensuring secure execution of the trade.

Adjusting an Open Position in Drift:

As a trader on Drift with an active position, you have the flexibility to make adjustments by either purchasing or selling the same asset. To modify your position, simply follow the steps outlined above for the respective asset. It’s important to note that alterations in the leverage utilized will directly impact your liquidation price.

Closing Positions on Drift trade:

After completing a trade, you have the option to close out of the position. Simply navigate to the "Positions" tab and click on "Close" to realize your Profit and Loss (P&L). Ensure to sign the transaction using your connected wallet for confirmation.

Your available positions will then be displayed, and your Balances and Total Collateral will reflect any changes once there is no remaining Unrealized P&L.

Exploring Spot Margin Trading on Drift:

Spot Trading entails the direct buying or selling of an asset, with immediate delivery and settlement on-chain. Upon confirmation of a spot trade, the settlement occurs instantly, reflecting the change in asset balance in your account. Drift v2 facilitates spot trading by utilizing liquidity from Open Book DEX and our own DLOB. Margin trading is not enabled by default, but you can learn how to activate it using the following steps below.

Select the SOL / USDC market in the top bar or the market’s dropdown menu.

2. Select your direction (e.g. Buy or Sell) and order type (e.g. Market, Limit)

3. Input the asset amount you’d like to trade or the notional value.

4. Once you’ve confirmed your order and it has been filled, your Balances tab will update to reflect your balance changes.

Enable Spot Margin Trading on Drift:

Enabling margin is a per-subaccount process. Here’s how you can do it:Margin trading empowers you to utilize your assets as collateral, enabling borrowing funds for trades. The leverage available in each spot market is governed by the protocol’s risk engine.

Open Settings
Go to Margin Trading in the left navigation
Click the toggle to enable it for the subaccount you want
Sign the wallet transaction to confirm

Once margin is enabled, you should see the leverage bar appear in the trade form.

Drift Token swap:

As a trader utilizing Drift, you have the capability to swap any pair with leverage of up to 5x.

Drift was conceptualized with the aim of achieving capital efficiency while prioritizing asset protection.This objective is realized through the implementation of a sophisticated cross-margined risk engine, a comprehensive suite of tools designed to safeguard against excessive risk exposure. For instance:

In the lend/borrow markets, collateral can be utilized for perpetual futures, enhancing trading efficiency with spot assets.
Each token deposited has the potential to generate additional earnings through borrowing and serves as collateral for perpetual swaps.
Borrowers are only permitted to borrow if they possess more collateral than required, adhering to multiple safety protocols for enhanced protection.

Unlocking Passive Income: Drift Earn.

1. What is lending and borrowing on Drift:

Drift Protocol functions as a decentralized money markets protocol, facilitating the borrowing and lending of assets. Traders can Earn yield on your deposits through lending.

As a participant in this decentralized money markets ecosystem, you have two primary options:

Deposit assets into Drift Protocol to earn yield.
Borrow assets deposited by other lenders at a variable interest rate.

Lenders contribute liquidity to the market, allowing them to earn yield on their assets, while borrowers can access available liquidity pools in an over-collateralized manner. Interest earned from lending is immediately vested and automatically compounded.

Drift Borrowing:

What you can do to Borrow on drift.

You have the option to deposit your SOL into Drift Protocol and borrow up to 50% of the deposited value in USDC. For instance, if you deposit 100 SOL valued at $10,000 USD, you can borrow up to $5,000 USDC.

The borrowed amount is versatile and can be utilized for various purposes, including obtaining leveraged exposure to specific assets through spot trading.

Drift Lending:

You have the opportunity to deposit your SOL into Drift Protocol. Once deposited, your SOL can be lent out to borrowers within the protocol.

In exchange for lending out your assets, you’ll earn a variable Deposit Annual Percentage Rate (APR).Stay tuned for upcoming details on lending APY.

2. Insurance Funding on Drift:

Drift’s Insurance Fund serves as the primary safeguard to ensure the exchange’s solvency in case of bankruptcies. Users have the option to stake their assets into Drift’s USDC Insurance Fund, allowing them to earn fees from the Revenue Pool while bearing the risk associated with resolving user bankruptcies or AMM deficits.

Distinct Insurance Funds exist for each asset supported on the platform, including USDC, BTC, ETH, and SOL. The USDC pool, for instance, accumulates exchange fees from both spot and perpetual trading activities, enabling it to support liquidations from perpetual trading. Similarly, other pools support liquidations denominated in their respective assets from borrow-lend activities.

By staking the corresponding asset into the Insurance Fund, anyone can contribute passive liquidity and receive a share of the liquidation and trading fees generated by the exchange, further collateralizing the fund.

Why is the Drift Insurance Fund necessary:

An Insurance Fund is essential for mitigating leveraged losses incurred by users of the protocol. During periods of heightened market volatility, accounts with insufficient margin may not be liquidated promptly or at their intended price.In such scenarios, the account balance may dip below zero, indicating unrealized losses surpassing the available collateral margining the position. Consequently, the exchange may incur this "bad debt."The insurance fund acts as a safety net to address these bankruptcies, providing a solvency buffer for the protocol. It assures users that, up to a specified amount of leveraged losses per market, sufficient funds are available to settle profitable positions.

How the Drift Insurance Fund is funded:

The Insurance Fund receives contributions from both stakers and the protocol, with funds growing through premiums collected from liquidation, trading, and borrowing fees. Given that exchange fees are collected in USDC, they are pooled within the USDC pool, which subsequently supports the designated portion of bankruptcies in each perpetual market.Any surplus losses exceeding the allocated limits will be managed through the socialized loss mechanism.

What is Socialized Loss in Drift:

Socialized loss occurs when losses incurred on the platform are distributed among the deposits and/or positions of all users.

This happens when the leveraged losses within a specific market surpass the token balance of that market in the Insurance Fund, indicating insufficient deleveraging to mitigate the bad debt.

In such instances:

Perpetual Traders: Bear losses proportionally to their open positions.
Lenders: Share losses proportionally to their deposited tokens.

In essence, all participants shoulder a portion of the losses incurred.

What is Isolated Insurance Fund on Drift?

Isolated Insurance Funds are set aside for volatile markets. They’re funded by a portion of premiums collected specifically for that market, separate from the standard Insurance Fund.In these markets, users rely solely on the Isolated Insurance Fund to cover losses beyond the Limited Insurance Fund.The Isolated Insurance Fund for each market serves two main purposes:

Protecting against leveraged losses for traders in that market.
Settling debts in case of bankruptcy.

Any additional losses are handled through a socialized loss mechanism.

3. Drift Market Maker Participation:

Any Drift user can become a Market Maker on the platform. Market Makers provide liquidity in two ways:

Just-in-Time Liquidity: Participating in JIT Auctions.
Post-Only Orders on the decentralized order book: Using Keepers & Decentralized Orderbook.

Just-In-Time Liquidity:

Makers can join the JIT( Just-In-Time) auction to offer just-in-time liquidity as Taker flow arrives.

This allows Makers to anticipate retail flow five seconds before it enters the market.

Makers can engage in the JIT system by running a JIT Maker Bot. For more details, refer to the Tutorial: JIT Maker Bot. For further information on the Just-in-Time Liquidity system, visit Just-In-Time (JIT) Auctions.

Drift Decentralised Orderbook:

Makers can enhance liquidity on Drift’s decentralized orderbook by providing quotes either through the user interface or programmatically using the SDK documentation.

(a) Drift providing liquidity via the UI:

Using Drift’s UI to place 'Post-Only' limit orders makes the order a maker order.These orders won’t be matched against the AMM or processed through the JIT. Instead, they’ll remain in the decentralized order book until a taker agrees to the specified price.

(b)Drift programmatic market making with a floating maker bot:

Drift offers an open-source bot that dynamically quotes bids and asks based on the oracle price. These quotes automatically adjust as the oracle price changes. The floating maker bot quotes above and below the oracle to ensure liquidity around the oracle price. Makers running this bot can profit from the spread as the price fluctuates.Drift currently operates this bot on the platform for-profit, alongside additional risk parameters. We’ve made the build open-source for users to run something similar.

GitHub Link to the Floating Maker Bot:

https://github.com/drift-labs/keeper-bots-v2/blob/master/src/bots/floatingMaker.ts

4. Drift Backstop AMM Liquidity (BAL):

Backstop AMM Liquidity (BAL) allows users to provide additional liquidity to chosen markets. This boosts liquidity in the market’s virtual Automated Market Maker (AMM), improving execution quality for others by minimizing price impact.Adding shares to Liquidity provision boosts sqrtK for the AMM’s oracle-based constant product liquidity, thus increasing the liquidity pool. Notably, liquidity added to perpetuals markets is cross-margined within Drift, enabling users to earn lending interest and access capital for margin trading.

BAL involves leverage and opens perpetual positions on behalf of the user.

For a thorough understanding of how BAL works, please refer to the BAL Technical Explainer.

Getting Started with Drift BAL:

Drift trader assume a portion of the AMM’s positions, acting as a counterparty to other Drift traders. For instance, if a Drift trader takes a short position, you’ll receive a long position.Your liquidity is displayed through open orders (bids/asks), and you can track your BAL positions in the positions table.

Drift (BAL) Position Updates & Management:

When you add BAL shares, your perpetual position in that market can be adjusted as new trades are executed.Decreasing BAL shares lessens the frequency of updates to your perpetual position in that market.The specific adjustment process of positions depends on how trades are executed compared to the AMM (which can involve a proportional split between protocol-owned and user-owned liquidity, or one or the other). It’s important to note that BAL doesn’t receive a portion of AMM/JIT split fills.The AMM can act as a backstop, filling orders alongside other user maker orders to partially rebalance inventory.

The launch of the $DRIFT token:

Drift, a Solana-based decentralized exchange protocol for trading crypto perpetual futures, is set to launch and airdrop its "governance" token, DRIFT.

The DRIFT token will have a total supply of 1 billion, with 10% or 100 million tokens set to be distributed through an airdrop, Drift said Tuesday. The 100 million tokens will be airdropped to 180,000 of Drift's users based on their activity on the platform.

Token generation event date and airdrop claim date will be announced later," Drift co-founder Cindy Leow told The Block, adding that the launch is expected in the coming weeks.

Drift has taken "multiple" snapshots over the past three years and has done "comprehensive activity analysis" for the token airdrop.

The Drift DAO Foundation will facilitate the coordination of decisions and initiatives from the token holders and the DAO.

Drift launched in 2021 as one of the first DeFi projects on Solana. Since then, it has facilitated a cumulative trading volume of over $20 billion and currently has a total value locked of over $250 million.

All DRIFT tokens will be distributed over five years, with a majority (over 50%) being allocated to the community. The breakdown of the token allocation is 53% for community and ecosystem; 25% for protocol development and 22% strategic participants.

Leow said that both Drift's team members and venture capital investors are subject to a vesting period ranging between 24 to 36 months.

Multi-Prong Liquidity Mechanism and Cross-Margin Capability:

Drift continues to innovate with its multi-prong liquidity mechanism, which enables traders to access deep liquidity pools across various assets, facilitating seamless trading experiences. Additionally, Drift recently introduced cross-margin capability, allowing traders to optimize their capital utilization and enhance their trading strategies.

Notable KPIs: Trading Volume, OI, and Growth:

Drift’s impressive KPIs underscore its dominance in the Solana DeFi landscape:

Trading Volume: Drift consistently leads in trading volume among Solana-based DEXs, reflecting its popularity and liquidity.

Open Interest (OI): The OI on Drift continues to grow steadily, indicating increasing market participation and confidence.Growth: Drift has experienced exponential growth since its inception, attracting a growing user base and expanding its market share.

Setting max leverage for your subaccount on drift:

When trader add liquidity, a suggested maximum leverage for your subaccount is provided, but you can adjust it in the settings. This setting affects your margin requirement for increasing BAL positions. If your account balance falls below the collateral requirement displayed on the BAL page, the next profit and loss settlement will trigger a de-risking of the position. You can also choose to opt out of this in the Margin/Leverage Settings.

How to add liquidity to BAL:

To add liquidity to a perpetual market:

Select the market you’d like to be an LP for and click Add.

2. In the modal, enter the amount you’d like to provide or the leverage.

3. Click Add.

You may be prompted to create a subaccount for BAL. This is highly recommended in order to easily track BAL and trading P&L.

How to remove liquidity:

Traders using Drift can remove liquidity from thier Trading page under the positions tab or you can access it from the BAL page:

Click Remove.

2. Select the amount of shares you’d like to remove.

3. Click Remove Liquidity.

How to view the historical performance for each market:

There are 2 ways to access historical performance:

You can click on the 7D or 30D performance in each markets card.

2. or, in table view, you can click View Performance under the 30D Performance column.

Enhancing Liquidity on Drift Build:

Drift API Documentation:

The drift API documentation is open source, all documented descriptions are for the deployed programs IDs of the drift protocol, Interact with the protocol programatically.

Visit the link below for full documentation on drift API.

https://drift-labs.github.io/v2-teacher/#terms-of-use

Drift SDK Documentation:

Drift Protocol is an open-sourced, The Drift SDK uses BigNum (BN), using this package, to represent numerical values. This is because Solana tokens tend to use levels of precision which are too precise for standard Javascript floating point numbers to handle. All numbers in BN are represented as integers, and we will often denote the precision of the number so that it can be converted back down to a regular number. decentralised exchange built on the Solana blockchain, enabling transparent and non-custodial trading on cryptocurrencies. The Drift SDK uses some common precisions, which are available as constants to import from the SDK.

Visit the link below for more information on drift SDK.

https://drift-labs.github.io/protocol-v2/sdk/

There are language bindings in Typescript and Python as well as self-hosted HTTP gateway.

Visit the GitHub repository for more:

https://github.com/drift-labs/protocol-v2

Drift-v2 Python SDK:

DriftPy is the Python SDK for Drift-v2 on Solana. It allows you to trade and fetch data from Drift using Python. It’s intended to mirror the TypeScript SDK, but is still a WIP and lacking some functionalities. This is the main source for how-tos in DriftPy and solutions for common pitfalls.

Key Component on Drift-v2 python SDK:

DriftClient / drift_client.py: Used to interact with the protocol (deposit, withdraw, trade, lp, etc.)
DriftUser / drift_user.py: Used to fetch data from the protocol and view user metrics (leverage, free collateral, etc.)
accounts.py: Used to retrieve specific on-chain accounts (State, PerpMarket, SpotMarket, etc.)
addresses.py: Used to derive on-chain addresses of the accounts (publickey of the sol-market).

For any help or setup questions, visit the discord channel below.

#research-and-dev-chat
https://docs.drift.trade/sdk-documentation

Drift protocol V2 keeper Bot:

Keeper Bots in the Drift Protocol keep the protocol operational by performing automated actions as autonomous off-chain agents. Keepers are rewarded depending on the duties that they perform.

The reference implementation for all Keeper bots mentioned in these docs is available here.

JIT Maker Bot:

The tutorial that shows how to run a JIT Maker bot in Typescript from the keeper-bots-v2 repo. A similar example written in Python is available in keepyrs.

Market orders go through the Just-In-Time (JIT) Auctions where Makers fight to fill orders before the order is allowed to fill against the Drift AMM.

Drift AMM:

Drift uses a backstop AMM as a source of guaranteed constant liquidity for the exchange, providing constant liquidity to be taken against asynchronously.

Drift’s v1 featured a Dynamic AMM which was an iteration on top of Perpetual Protocol’s innovation - the virtual AMM (vAMM), except with configurable parameters, namely:

Peg: a price multiplier.
K: liquidity depth.
Fee Pool: comprised of taker fee amounts (multiple methods for fee discounts to be implemented in the future).
Fee Tranches: percentage allocations from the fee pool to be distributed amongst the following operations.

a. Adjusting Peg (alternatively, "repeg").

b. k adjustments.

c. (Capped) funding payments.

Drift v2 AMM:

Drift’s v2 AMM is still a AMM using a constant product curve but now includes external Backstop AMM Liquidity (BAL) a concentration factor, and dynamic spread/peg that programmatically update prior to filling trades.

The mechanics behind the dynamic spread and peg are:

Inventory adjusted spreads.
Oracle live pricing/volatility.

Inventory Adjusted Spreads:

Drift v2’s AMM, buys and sells are quoted at different prices, dynamically adjusting based on the current inventory. This is achieved by tracking three points on the constant product curve: the bid price, ask price, and a dynamic point between them known as the reservation price.

In Drift v2’s AMM, the bid/ask price is calculated based on the reservation price ± a base spread, which can be adjusted dynamically using factors such as inventory and market pressure. This allows for asymmetric long and short spreads.

oracle live pricing:

In Drift v2’s AMM, bid/ask points on the curve are calculated based on the quote reserve ± base spreads. This updating sequence involves checking the oracle price, adjusting the AMM’s peg, setting bid/ask spread, and filling orders according to the bid/ask price if certain conditions are met. The overall spread may increase if the AMM is heavily leveraged or in debt, but both the oracle price and reservation price are always within this spread.

Drift Gateway:

Drift Gateway is a self-hosted API gateway designed for easy interaction with the Drift V2 Protocol. It facilitates various functionalities like placing orders, getting market information, accessing order books, managing positions, and receiving transaction events. Users can build and run the gateway either from source or using Docker. The gateway utilizes environment variables for configuration, including the Drift gateway key for transaction signing.

Key features include:

Delegated Signing Mode: Allows the gateway to act on behalf of a delegator and sub-accounts while signing transactions with the provided key.
Sub-account Switching: Users can specify the default sub-account or switch sub-accounts per request basis.
API Examples: Provides comprehensive examples for interacting with the HTTP API, including endpoints for fetching market info, order books, orders, positions, transaction events, and more.
WebSocket API: Offers live event streams via WebSocket, enabling real-time updates on orders, fills, cancellations, and more.
Emulation Mode: Allows the gateway to run in read-only mode for emulation purposes, without the ability to send transactions.

The API supports various HTTP methods such as GET, POST, PATCH, and DELETE for different operations like placing orders, modifying orders, cancelling orders, and more. Detailed error handling and common error messages are provided to aid developers in troubleshooting.

Contributing to Drift protocol :

Anyone interested in contributing to Drift Protocol, here are some avenues you can explore:

Documentation:Raise issues or submit Pull Requests at the Drift Documentation Repository.
Bot Code/ Keeper Bots: Contribute to the keeper bots repository.
Trading Bots: Contribute to repositories like JIT Proxy Program and JIT Maker.
TypeScript SDK:Add new features or improve code quality and maintainability at the TypeScript SDK Repository.
Expanding SDK Language Support:Use TypeScript SDK as a reference to add more language support, like Rust SDK or Python SDK.
Composing Programs on Top of Drift:Example, Drift Vaults.
Feature Requests: Tokenization of the insurance fund stake.
Main Program Contributions:Expand the test suite (both TypeScript and Cargo tests) at the Main Program Repository.
Security: Participate in the Immunefi bug bounty program for identifying and sharing proof of concepts of smart contract bugs.

Feel free to choose a project or issue that interests you and start contributing!

Conclusion:

In conclusion, Drift remains at the forefront of perpetuals trading on Solana, offering traders unmatched liquidity, advanced features, and a superior user experience. With its latest updates, including the multi-prong liquidity mechanism, cross-margin capability, top-tier UI, and upcoming rewards program, Drift is poised for continued success and growth in the dynamic world of decentralized finance on Solana.

References:

https://docs.drift.trade/

https://www.theblock.co/post/288648/solana-drift-token-launch-airdrop.

https://github.com/drift-labs/v2-teacher.

https://app.drift.trade/swap.