Drift
ClaimDrift is a decentralized perpetual futures trading platform built on the Solana blockchain.
Key numbers · TVL $329M · per DefiLlama · updated Sep 23
Overview
Drift allows users to trade perpetual futures contracts across more than 100 assets with leverage up to 101x. The platform also offers yield-earning products, vaults, and staking, targeting both retail traders and institutional capital. It runs on Solana and uses open-source, audited smart contracts. Following an April 2026 incident involving USDT losses, Drift introduced a recovery token called DFX and a redemption mechanism funded by protocol revenue and partner commitments.
Recent activity
Reports $1.4B in total deposits across borrow/lend markets.
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Drift Institutional launched with early partners Apollo and Securitize.
Strategy Vaults reach $298M in TVL, largest structured product on Solana.
Preparing to launch Drift v3, the next evolution of perpetuals on Solana.
Noah Prince, former Head of Protocol Engineering at Helium, joins as Head of Protocol.
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Engaged former Gauntlet team members to support risk and vault work for relaunch.
Engaged Mandiant for forensic analysis, which attributed the exploit to North Korean group UNC6862.
Will relaunch as the largest USDT-based perpetual exchange on Solana.
Received strategic support package from Tether and other partners.
Offers up to 16% yield on deposits
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Supports trading across 40+ markets with up to 20x leverage, and up to 101x on SOL, BTC, ETH perps.
Updating trading fee structure effective 5 August 2025 with unified tier model across perpetual markets.
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Offers 0% taker and maker fees on BTC-PERP and ETH-PERP as a limited-time campaign.
DRIFT stakers can unlock stackable fee discounts and rebate boosts up to 40%.
Launched Drift Builder Codes, letting developers earn fees for routing trades through their apps
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Is the first Solana-based DEX to offer per-order monetisation for third-party frontends
Builder Codes are now in private beta for developers wanting to integrate Drift liquidity
Wants builders and market makers to join via Telegram contacts @wdotsol or @airtightfish for support
Earlier
Developing a bounty program for asset recovery with support from Arkham and Bybit
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Secured collaboration with Tether and other partners to support user recovery after April 1 exploit
Will migrate settlement layer from USDC to USDT at relaunch
Tether will extend a USDT market-making support facility through designated market makers
Now supports 50+ markets across spot and perpetuals
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Launched SWIFT Protocol, a liquidity upgrade enabling gasless transactions
Secured additional partner capital commitment of up to 20M USDT for user recovery
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Secured Tether commitment of up to 127.5M USDT for relaunch and user recovery
Launched public bounty program with Bybit offering 10% bounty on recovered assets.
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Tether committed up to $127.5M to support Drift relaunch and user recovery.
Strategic partners committed up to $20M to support Drift user recovery.
Now supports Custom Leverage Per Market, allowing different max leverage settings for different markets.
Has surpassed 1.5B in TVL, $133B+ in total trading volume and $650M in open interest.
