Bitget App

Trade smarter

What is Drift Protocol

Coin overview

Coin-related

Trade-related

Coin updates

Other products

What is Drift Protocol (DRIFT)?

Drift Protocol basic info

Name:Drift Protocol

Ticker:

DRIFTBuy now

Introduction:

What Is Drift Protocol?

Drift Protocol is a decentralized exchange (DEX) on the Solana blockchain. Designed to overcome the inefficiencies of traditional on-chain exchanges, Drift Protocol provides users with low slippage, minimal fees, and reduced price impact on trades. Since its inception in 2021, Drift has demonstrated remarkable growth, boasting over $350 million in Total Value Locked (TVL) and more than 175,000 traders, with a cumulative trading volume exceeding $20 billion. As one of the largest open-source perpetual futures DEX on Solana, Drift Protocol has established itself as a leading player in the decentralized finance (DeFi) ecosystem.

Drift Protocol's primary mission is to create an efficient, liquid, and accessible trading environment for all users. By leveraging Solana's high throughput and low latency capabilities, Drift offers a robust platform that supports a variety of trading activities, including spot trading with margin, perpetual futures trading, borrowing and lending, and passive liquidity provision. This diverse range of products ensures that Drift can cater to the needs of different types of traders and investors, enhancing the overall user experience and engagement.

Resources

Official Documents: https://docs.drift.trade/

Official Website: https://www.drift.trade/

How Does Drift Protocol Work?

Drift Protocol operates through a combination of advanced liquidity mechanisms and innovative trading products. The three primary liquidity mechanisms are Just-in-Time (JIT) Auction Liquidity, Limit Orderbook Liquidity, and Automated Market Maker (AMM) Liquidity. JIT Auction Liquidity involves short-term auctions where market makers compete to provide liquidity, ensuring swift and efficient order fulfillment. The Limit Orderbook aggregates limit orders placed by makers, offering continuous liquidity and price discovery. The AMM acts as a constant liquidity provider, supplementing market liquidity and maintaining optimal trading conditions.

Drift Protocol offers four main products: Spot Trading with Margin, Perpetuals Trading, Borrow Lend, and Passive Liquidity Provision through Backstop AMM Liquidity (BAL). Spot Trading with Margin allows users to trade assets with immediate on-chain settlement and leverage their positions. Perpetuals Trading enables speculation on asset price movements without the need for physical delivery, offering high liquidity and flexibility. The Borrow Lend feature facilitates decentralized money markets where users can deposit assets to earn yield or borrow assets at variable interest rates. The BAL mechanism allows users to provide backstop liquidity, enhancing market depth and resilience.

The protocol’s decentralized orderbook is managed by Keeper Bots, which monitor and fill orders based on specific conditions. These bots compile on-chain orders into an off-chain orderbook, ensuring efficient order execution. Additionally, the revenue pool collects fees from various sources, such as borrow fees and exchange fees, to support the insurance vault and AMM operations, ensuring the system’s sustainability and incentivizing participants.

What Is DRIFT Token?

The DRIFT token is the native governance token of Drift Protocol, playing a crucial role in the ecosystem's governance and development. By holding DRIFT tokens, users can participate in the Drift DAO (Decentralized Autonomous Organization), where they can vote on key decisions regarding protocol upgrades, development initiatives, and other governance-related matters. This decentralized governance model ensures that the community has a direct say in the future direction of Drift Protocol.

In addition to governance, DRIFT tokens can also be used to earn rewards through staking and liquidity provision. By staking DRIFT tokens, users can earn a share of the fees generated by the protocol, further incentivizing active participation and long-term engagement within the ecosystem. This dual role of governance and rewards makes the DRIFT token an integral part of the Drift Protocol, aligning the interests of users, developers, and investors to foster a sustainable and thriving decentralized exchange platform. DRIFT has a total supply of 1 billion tokens.

What Determines Drift Protocol’s Price?

The price of Drift Protocol (DRIFT) is primarily determined by the forces of supply and demand within the blockchain ecosystem. As with other Web3 assets, increased demand for DRIFT tokens, driven by the protocol’s growing user base and innovative features, can lead to a rise in its price. The integration of Drift Protocol on the Solana blockchain enhances its efficiency and appeal, making it a prominent player in the decentralized finance space.

Market volatility also plays a significant role in determining DRIFT's price. Factors such as market sentiment, overall performance of cryptocurrency charts, and external economic conditions can cause fluctuations. For those interested in cryptocurrency price prediction, it’s essential to monitor these variables closely. Understanding the risks and potential rewards can help investors decide if DRIFT is the best crypto investment for 2024 and beyond. Staying informed about market trends and volatility is crucial for making sound investment decisions in the ever-evolving cryptocurrency landscape.

For those interested in investing or trading Drift Protocol, one might wonder: Where to buy DRIFT? You can purchase DRIFT on leading exchanges, such as Bitget, which offers a secure and user-friendly platform for cryptocurrency enthusiasts.

DRIFT supply and tokenomics

Circulating supply:0 DRIFT

Total supply:0 DRIFT

Max supply:0 DRIFT

Market cap:$0.00

Fully diluted market cap:$0.00

Links

Buy Drift Protocol for $1Buy DRIFT now

What is the development prospect and future value of DRIFT?

The market value of DRIFT currently stands at $0.00, and its market ranking is #999999. The value of DRIFT is not widely recognized by the market. When the bull market comes, the market value of DRIFT may have great growth potential.

As a new type of currency with innovative technology and unique use cases, DRIFT has broad market potential and significant room for development. The distinctiveness and appeal of DRIFT may attract the interest of specific groups, thereby driving up its market value.

What will the price of DRIFT be in 2025?

Based on DRIFT's historical price performance prediction model, the price of DRIFT is projected to reach $0.00 in 2025.

What will the price of DRIFT be in 2030?

In 2030, the DRIFT price is expected to change by +24.00%. By the end of 2030, the DRIFT price is projected to reach $0.00, with a cumulative ROI of -100.00%.

Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of DRIFT and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

DRIFT price DRIFT price prediction DRIFT news

Is DRIFT worth investing or holding? How to buy DRIFT from a crypto exchange?

If you want to buy DRIFT, the following information may be helpful for your investment decisions:

In the last 7 days, the price of DRIFT has fallen by 0.00%, leading to negative returns for most DRIFT investors. The market is currently pessimistic about the price trend of DRIFT.

Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.

To decide whether DRIFT is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.

Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in DRIFT or any cryptocurrency comes with certain risks and uncertainties.

Regardless of your outlook on the development prospects and future trends of DRIFT, if you want to buy or sell DRIFT, you can consider Bitget for your trading needs. The best place to buy DRIFT is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.

Investing in Drift Protocol has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy Drift Protocol. Here's a step-by-step guide on how to buy Drift Protocol on Bitget.

Buy DRIFT now Coin buying guide

How to get Drift Protocol through other methods？

Using cash to buy Drift Protocol is not the only way to obtain Drift Protocol. If you have the time to spare, you can get Drift Protocol for free.

Learn how to earn Drift Protocol for free through the Learn2Earn promotion.

Earn free Drift Protocol by inviting friends to join Bitget's Assist2Earn promotion.

Receive free Drift Protocol airdrops by joining ongoing challenges and promotions.

All crypto airdrops and rewards can be converted to Drift Protocol through Bitget Convert, Bitget Swap, or spot trading.

What is Drift Protocol used for and how to use Drift Protocol?

The use case of Drift Protocol may expand as the crypto market and the project itself develop. Currently, you can use DRIFT to achieve the following goals:

Arbitrage by trading DRIFT: Since DRIFT is a frequently traded cryptocurrency, the price of DRIFT is always fluctuating. Earn more DRIFT by buying low and selling high on the exchange. Bitget spot market provides a variety of DRIFT trading pairs to fully meet your needs.

Earn by staking DRIFT: You can also generate income through financial management methods such as staking DRIFT or lending DRIFT. Bitget Earn offers a variety of financial products designed to help you earn more income from your DRIFT.

Send or pay DRIFT: If you want to give DRIFT to your friends, a charity, or a fundraiser, or you want to pay someone with DRIFT, you can quickly and easily send DRIFT to the recipient through their payment address.

You can also go to the official website of the Drift Protocol project to learn more about the use cases of DRIFT. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

Trade DRIFT DRIFT Earn