Welcome to Drift Protocol

Welcome to Drift Protocol's documentation. In these docs, we'll learn about:

  • Getting started with trading perpetual swaps on Drift
  • Detailed documentation around Drift's trading mechanism
  • API documentations for trading and building bots using Drift's SDK
  • Ways to get involved and contribute to Drift

Overview

Drift Protocol is a decentralized, fully on-chain perpetual swap exchange built on Solana.

You can use Drift's perpetual swaps now to:

  • Speculate on cryptoassets with up to 5x leverage
  • Earn yield from collecting funding rate payments



and soon to:

  • Build synthetic spot positions
  • Create a delta-hedged stable coin position
  • Hedge your Impermanent Loss (IL) from LP positions



Dynamic AMM (DAMM)

Drift Protocol is the first perpetual swap exchange to leverage a Dynamic AMM. A Dynamic AMM is based on a virtual AMM (vAMM), but its key innovative is that it introduces repegging and adjustable k mechanisms to recalibrate liquidity in a trading pool based on participant demand. DAMMs, as a result, have the ability to be more flexible than traditional vAMMs and AMMs, which lead to better capital efficiency and reduced slippage.

Drift’s exchange gives traders the ability to take on cross-margined long or short positions with up to 5x leverage with minimal slippage thanks to the protocol’s Dynamic Automated Market Maker (DAMM). The exchange is launching with a market for SOL. And later BTC, ETH and Solana DeFi tokens.

For more information about the Dynamic AMM construction, read Drift's litepaper here.

Launch Status

Drift is on closed Alpha Mainnet. Trade here. Drift is now Live on Open Mainnet. Trade here.