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Introduction
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1. Project introduction
Drift v2 introduces a hybrid liquidity solution designed to provide more collateral and reduce the risk of the vAMM itself. For Drift v2, there are 3 types of liquidity guaranteed to provide traders with the best price when executing orders:
Just in time (JIT) instant liquidity
vAMM Liquidity
Decentralized Order Book (DLOB) Liquidity
Other features:
Spot
Drift v2 provides spot trading and spot margin trading. Unlike perpetual trading, all types of spot trading are based on the real underlying asset. For example, liquidity for spot trading comes from OpenBook DEX. Additionally, spot and margin trading allow users to increase leverage on their spot by borrowing assets on Drift v2. The purpose of both methods is primarily to hedge perpetual positions.
Swap
Exchanges on Drift rely on Jupiter routing to provide users with the best prices. However, the source of liquidity comes from Drift v2 itself. Users can also use flash loans to increase the leverage of their exchanges.
Lengding
Drift’s lending module is similar to Aave in that it uses an over-collateralization mechanism. When you deposit assets into Drift, these assets will automatically generate income.2.
2. Team introduction
Co-Founder - David Lu
Co-Founder - Cindy Leow
3. Token application and distribution
Token application:
The launch of the DRIFT governance token empowers holders to actively participate and vote on key decisions, shaping the future of the Drift ecosystem to ensure it meets the evolving needs of traders within the Solana ecosystem.
Token distribution:
Community - 53%
- Ecosystem Development and Trading Rewards - 43%
The community is the lifeblood of Drift, encompassing a diverse range of stakeholders from stakers to algorithmic traders. This allocation is dedicated to the growth of active users on Drift, through trading rewards, future airdrops, and rewards for providing liquidity. Additionally, the Futarchy DAO will fund tools and resources for developers and initiate public awareness campaigns to broaden Drift's usage.
- Launch Airdrop - 10%
10% of all DRIFT governance tokens have been reserved for the initial launch phase. These tokens will be distributed to existing Drift users in recognition of their historical contributions to the development and growth of Drift.
This encompasses long-standing traders, participants in various programs such as BAL or Insurance Fund on the platform, contributions to the protocol through deposits, and active engagement as liquidity providers in trading programs.
Protocol Development - 25%
This allocation is for both current and future contributors dedicated to developing Drift Protocol tooling, products, and infrastructure, thereby expanding the Protocol’s array of decentralized DeFi applications. This allocation includes treasury funds earmarked for protocol development.
To ensure alignment of interests, the core contributor team’s tokens are subject to an 18-month lock-up period, followed by an 18-month vesting period.
Strategic Participants - 22%
Throughout the years of development, Drift has been fortunate to receive the support and guidance of key partners in the space. This allocation represents their contributions which have significantly enhanced the network by advising on and supporting critical infrastructure developments.
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