CRYPTO MARKET / ASSET
Drift protocol (DRIFT)
$0.6753
▲ 15.54% +$0.091 LOW: $0.5510 / HIGH: $0.7075 (24H)
▲ 15.54% +$0.091
LOW: $0.5510 / HIGH: $0.7075 (24H)
LOW: $0.5510 / HIGH: $0.7075 (24H)
| FULL MARKET CAP $675.3 M |
| TOTAL VOLUME 24H ($) $72.95 M |
| CIRCULATING SUPPLY 288,500,687 |
| TOTAL CURRENT SUPPLY 999,999,858 |
| MAXIMUM SUPPLY ∞ |
DRIFT / USD Conversion
swap_horiz
Overview
Drift Protocol (DRIFT) is a decentralized exchange on the Solana blockchain, focused on perpetual swaps and leveraged trading.
- On recent oracle issues:
tl;dr:
Network congestion led to stale oracles and degraded ux. Recently released improvements to pull oracles will make it so that, even with network congestion, drift has fresh oracles
More details:
Due to network congestion, drift experienced issues with stale oracles. This degrades protocol performance with withdraws being a specific pain point.
Withdraws require strict margin checks to ensure protocol solvency and thus stale oracles cause withdraws to fail
While updating oracles is permisisonless, in practice most of the oracle updates come from bots run by core contributors (with some updates coming from market makers and liquidators). When there is network congestion and priority fees spike, it becomes more difficult/expensive for keeper bots to update oracles
The best fix for this is to increase the unique number of users that are posting updates. Ideally every user updates relevant oracles every time they interact with the protocol.
Historically this has been difficult due to limits with tx size and the size of oracle update signatures. But oracle providers are working to shrink the message size which unlocks the ability to pack oracle updates into more user tx. The recent pyth lazer release from @PythNetwork is a significant reduction in message size and will allow users to pack several oracle updates with their transaction. Drift will begin using pyth lazer for a series of markets over the next week.
E.g. if a user goes to withdraw from drift, they can bundle all the relevant oracle updates into the transaction and guarantee that oracles are fresh.
Longer term there is a SIMD 226 which aims to increase the max tx size, opening up even more room for users to post oracle updates without risk of hitting max tx size.
There are of course other benefits to having fresher oracles - more accurate funding rates, better fills from the amm and market makers, etc. Looking forward to seeing these oracle improvements making it to prod.
@crispheaney • January 20, 2025 - Replying to @DriftProtocol: Trade Now: https://app.drift.trade/MELANIA-PERP
Deposit Now: https://app.drift.trade/earn/borrow-lend?token=MELANIA
@DriftProtocol • January 20, 2025 - You can now trade $MELANIA with up to 4x leverage!
Deposit $MELANIA on Drift to use as collateral to trade.
@MELANIATRUMP
@DriftProtocol • January 20, 2025
close replay
| Exchange Logo | Exchange | Volume (24H) | Price |
|---|---|---|---|
 |
Bybit USDT |
access_time |
access_time
|
 |
Coinbase USD |
access_time |
access_time
|
 |
Crypto.com USD |
access_time |
access_time
|
 |
Kraken EUR, USD |
access_time |
access_time
|
 |
UPbit USDT, BTC, KRW |
access_time |
access_time
|
close replay
| Exchange Logo | Exchange | Volume (24H) | Price |
|---|---|---|---|
 |
AscendEX USDT |
access_time |
access_time
|
 |
Bithumb Korea KRW |
access_time |
access_time
|
 |
BitMart USDT |
access_time |
access_time
|
 |
BTSE USDT, USDC, USD |
access_time |
access_time
|
|
Bybit USDT |
access_time |
access_time
|
|
Coinbase USD |
access_time |
access_time
|
 |
CoinEx USDT |
access_time |
access_time
|
|
Crypto.com USD |
access_time |
access_time
|
 |
Gate.io USDT |
access_time |
access_time
|
|
Kraken EUR, USD |
access_time |
access_time
|
 |
KuCoin USDT |
access_time |
access_time
|
 |
LBank USDT |
access_time |
access_time
|
 |
Mercado Bitcoin BRL |
access_time |
access_time
|
 |
MEXC Global USDT |
access_time |
access_time
|
 |
Poloniex USDT |
access_time |
access_time
|
|
UPbit USDT, BTC, KRW |
access_time |
access_time
|
 |
XT.com USDT |
access_time |
access_time
|
Time Ranges
| 1 HOUR | -2.21% |
|---|---|
| 24 HOURS | +13.18% |
| 7 DAYS | +24.27% |
| 30 DAYS | -16.65% |
24h USD Activity
| SPOT MOVING CHANGE | -$0.01 -2.56% |
|---|---|
| SPOT MOVING QUOTE VOLUME | $62,316,342.20 |
| SPOT MOVING QUOTE USD VOLUME | $1,047,429.28 |
| CIRCULATING MARKET CAP | $161,575,256.97 |
| TOTAL MARKET CAP | $560,051,470.71 |
Supply & Distribution
| SUPPLY | |
|---|---|
| ISSUED | 999,999,858 (100%) |
| TOTAL CURRENT | 999,999,858 |
| DISTRIBUTION | |
|---|---|
| ● CIRCULATING | 288,500,687 |
| ● LOCKED | 711,499,171 |
| ● BURNT | 0 |
Specification
| LAUNCHED | 28/03/2024 |
|---|---|
| TEAM | |
| CINDY LEOW (FOUNDER)
|
|
| CIRCULATING SUPPLY | 288,500,687 |
| TOTAL CURRENT SUPPLY | 999,999,858 |
| TYPE |
TOKEN
|
|---|---|
| SECTORS |
DECENTRALIZED FINANCE PROTOCOL
|
|
PLATFORM
|
|
| BRIDGES / PLATFORMS | |
|
SOL
|
Top Cryptos: Gainers (24H)
-
Heroes of Mavia MAVIA$0.4505▲ 265.44% +$0.33 (24H) -
BinaryX BNX$1.70▲ 41.80% +$0.50 (24H) -
CARV CARV$0.3835▲ 25.89% +$0.079 (24H) -
Vana VANA$6.94▲ 23.45% +$1.32 (24H) -
Drift protocol DRIFT$0.6731▲ 15.16% +$0.089 (24H) -
PancakeSwap CAKE$2.14▲ 14.66% +$0.27 (24H) -
Bounce AUCTION$35.22▲ 13.91% +$4.30 (24H) -
StormX STMX$0.003955▲ 6.69% +$0.00025 (24H)
Top Cryptos: Losers (24H)
-
Ancient8 A8$0.2153▼ -22.91% -$0.064 (24H) -
Vine Coin VINE$0.02767▼ -13.29% -$0.0042 (24H) -
Notcoin NOT$0.002358▼ -13.06% -$0.00035 (24H) -
aixbt by Virtuals AIXBT$0.1153▼ -11.57% -$0.015 (24H) -
Catizen CATI$0.1469▼ -11.10% -$0.018 (24H) -
ai16z AI16Z$0.2005▼ -11.00% -$0.025 (24H) -
SuperRare RARE$0.08990▼ -9.20% -$0.0091 (24H) -
Spell Token SPELL$0.0007135▼ -8.26% -$0.000064 (24H)
Top Cryptos: Gainers (24H)
- Heroes of Mavia MAVIA$0.4505▲ 265.44% +$0.33 (24H) BinaryX BNX$1.70▲ 41.80% +$0.50 (24H) CARV CARV$0.3835▲ 25.89% +$0.079 (24H) Vana VANA$6.94▲ 23.45% +$1.32 (24H)
- Drift protocol DRIFT$0.6731▲ 15.16% +$0.089 (24H) PancakeSwap CAKE$2.14▲ 14.66% +$0.27 (24H) Bounce AUCTION$35.22▲ 13.91% +$4.30 (24H) StormX STMX$0.003955▲ 6.69% +$0.00025 (24H)
Top Cryptos: Losers (24H)
- Ancient8 A8$0.2153▼ -22.91% -$0.064 (24H) Vine Coin VINE$0.02767▼ -13.29% -$0.0042 (24H) Notcoin NOT$0.002358▼ -13.06% -$0.00035 (24H) aixbt by Virtuals AIXBT$0.1153▼ -11.57% -$0.015 (24H)
- Catizen CATI$0.1469▼ -11.10% -$0.018 (24H) ai16z AI16Z$0.2005▼ -11.00% -$0.025 (24H) SuperRare RARE$0.08990▼ -9.20% -$0.0091 (24H) Spell Token SPELL$0.0007135▼ -8.26% -$0.000064 (24H)