Welcome to Drift Protocol's documentation. In these docs, we'll learn about:
Drift Protocol is a decentralized, fully on-chain perpetual swap exchange built on Solana.
You can use Drift's perpetual swaps now to:
and soon to:
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.