FAQ

Product

Is it live? Where can I trade?

๏ปฟ๏ปฟ๏ปฟhttps://app.drift.trade ๐Ÿ‘พ

Features

What makes Drift Protocol different from other perpetual platforms?

1) DAMM (vs orderbook): Driftโ€™s product uses a virtual Dynamic AMM (DAMM). The virtual AMM enables instant liquidity on trades from day 1 without reliance on market makers, and our dynamic AMM (DAMM) features Drift Cover, 1. a novel fee redistribution mechanism and 2. an adaptable k that adjusts market liquidity to user open interest and demand for trading. Read this post for more information on our DAMM. 2) Cross-Margining (vs Isolated): Drift allows for multiple positions to be taken with the same pool of USDC collateral. This allows for convenience of collateral management, with profits from a single position being able to support margin for other positions.

How is the DAMM better than an orderbook?

AMMs are crypto-naive and operate on full mathematic transparency, pushing away from the blackbox dynamic liquidity on traditional markets.

  • No spoofing or liquidity vanishing when it's needed most.
  • No spreads. Which means there always exists a sufficiently small sized trade direction that is cheaper through Drift than any orderbook
  • Adaptable market liquidity
    • As Drift grows, smaller traders benefit the most on absolute slippage
    • DAMM's virtual liquidity (k) can be increased which provides 1) lower slippage for new trades and 2) improved exit liquidity for current position holders.

Are you planning on adding limit orders, take profit and stop losses?

Limit orders, take profit, and stop loss are actively being tested for the protocol. Feel free to try the open devnet enviroment here: https://limit-orders.drift.trade/๏ปฟ

Where can I give product feedback or suggestions?

You can join our Discord to give feedback or start conversations around our product. For more structured feedback you can also submit feedback to our Canny board. We're constantly on the lookout for product feedback!

Tokens

Where can I trade $DRIFT tokens?

There are currently no $DRIFT tokens in circulation, please do not fall for scams.

Will there be an IDO/Public Sale?

There are currently no public plans for an IDO.

When Tokenomics Paper?

Soon.

Developers

Is the program code be open-sourced?

Program code available here: https://github.com/drift-labs/protocol-v1 The build is also verified: https://anchor.projectserum.com/build/23๏ปฟ

Will there be an audit? What other security measures are you considering?

We have signed an audit with Trail of Bits planned for Q1 2022.

Prior to that, below are some security measures implemented to ensure code safety:

  1. Deposit limits will be implement on a per-wallet basis.
  2. Drift's code based has been reviewed by seasoned Rust and Solana developers.
  3. Drift hosts a bug bounty program to encourage white hat reporting of smart contract bugs.

Will there be any grants for community to build on Drift's SDK or protocol?

Yes! Once our code is open-sourced, we will be sponsoring grants to build on top of Drift's SDK and protocol. Some examples include a statistics dashboard or automated trading strategies

Community

How can I get more involved?

Join our Discord for the time being for community events. Ambassador program is TBA. You can also check out our Drift SDK Documentation where you can learn how to build bots and trade on Drift's mainnet programmatically! We also regularly start focused research discussions on our Discord and Twitter, so feel free to join anytime.

How do I get an Alpha Drift Ticket?

You can win them in community events or participate in our partners' events! Many tickets are also being distributed to those who have been early contributers of Drift.

What's the cost to open a Drift account?

Solana blockchain + storage needs SOL to cover costs of creating necessary accounts. This is approximently 0.015 SOL to create the storage for a Drift Account.

Please refer to our Legal & Regulation section for a comprehensive guide on Drift's terms and policies.

Are there any restricted users?

Yes. The following users are restricted from accessing or using the Service:

  • US persons;
  • A resident, national, or agent of any country to which the United States, the United Kingdom or the European Union embargoes goods or imposes similar sanctions.

Where is Drift Protocol based?

Drift Protocol is based off-shore.

Who owns Drift Protocol?

The protocol is made up of free, public, open-source or source-available software including a set of smart contracts that are deployed on various blockchain networks, including, without limitation, the Solana blockchain.

Drift Protocol has a numerous core contributors who have made initial contributions to the protocol, but do not own or control the protocol.

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