Drift Protocol Price

(DRIFT)
USD($)
Drift Protocol (DRIFT) Live Price Chart

Drift Protocol Live Price Data

The live price of Drift Protocol is $0.4256, with a total trading volume of $ 74,876 in the last 24 hours. The price of Drift Protocol changed by +2.03% in the past day, and its USD value has decreased by -2.4% over the last week. With a circulating supply of -- DRIFT, the market cap of Drift Protocol is currently -- USD, marking a --% increase today. Drift Protocol currently ranks #-- in market cap.
How do you feel about Drift Protocol today?
Note: This data is for reference only.
icon
upBullish
pk
downBearish
icon

Drift Protocol(DRIFT) Profile

altRank--
rate--
Expand
Documentation
Contract
Solana DriFtupJ...wg7
Audited By
--
Code & Community
Investors
--
$0.4050
$0.4275
--
-0.44%
+2.03%
-2.40%
-- 
$61,122 
--
--

About DRIFT

How can I buy Drift Protocol (DRIFT)?

Buying DRIFT on KuCoin is fast and simple. Create an account, verify your identity, deposit funds, and start your trading. It's that simple! See How to Buy Drift Protocol (DRIFT) for more information.

What Is Drift Protocol (DRIFT) Crypto?

Drift Protocol (DRIFT) is a decentralized exchange (DEX) built on the Solana blockchain. It focuses on providing perpetual futures trading with up to 10x leverage. The platform allows users to trade, borrow, lend, and stake various cryptocurrencies, making it a versatile tool for DeFi enthusiasts.

Drift Protocol stands out by using a Dynamic Automated Market Maker (DAMM), which improves liquidity and reduces slippage compared to traditional AMMs. This system helps ensure efficient capital usage and better trading conditions.

The protocol also supports cross-margining, allowing users to manage multiple trading positions with shared collateral, enhancing capital efficiency and risk management. This feature benefits traders looking to maximize their capital use without overextending risk​.

How Does Drift Protocol Work?

Drift Protocol is a Solana-based DEX that lets you trade perpetual swaps, which are futures contracts without an expiry date. These allow you to take long or short positions with up to 10x leverage, meaning you can amplify your trading positions by borrowing funds.

Drift uses a cross-margining system, sharing your collateral across all open positions. This helps optimize the use of your funds and reduces the risk of liquidation by spreading the margin requirements across multiple positions.

Drift employs a DAMM that adjusts liquidity based on market demand. This system helps maintain low slippage and competitive pricing, making trades more efficient. Before a trade is executed, market makers bid to fill the order, providing liquidity exactly when needed. This reduces the time to fill orders and ensures better pricing.

You can lend your assets to earn variable rate yields or borrow against your collateral. This adds flexibility and opportunities to earn passive income. You can also provide liquidity to the platform and earn fees from trades. This is facilitated through mechanisms like Backstop AMM Liquidity, which acts as a safety net to ensure liquidity is always available for trades.

Drift uses a network of agents (Keepers) to ensure optimal order execution and market stability. These Keepers help manage order books, provide liquidity, and handle liquidations when necessary. Overall, Drift Protocol is designed to offer a comprehensive suite of DeFi tools emphasizing capital efficiency and protection against excessive risk.

History of Drift Protocol DEX and DRIFT Coin

Drift Protocol was founded by Cindy Leow and David Lu in 2021. It is a DEX built on the Solana blockchain, specializing in perpetual futures trading. Drift launched its first version, Drift V1, in November 2021. This version introduced the DAMM, which provides liquidity and minimizes slippage. Drift V1 quickly gained traction, amassing over $10 billion in trading volume within six months.

Drift V2 launched on December 19, 2022, enhancing the platform with new features such as Just-in-Time (JIT) liquidity, decentralized order books, and passive liquidity providers. Drift V2 also introduced robust security measures and expanded its offerings to include spot trading, borrowing, and lending​.

Drift Protocol's roadmap includes the launch of its governance token, DRIFT, with a significant airdrop planned for loyal users. The governance token aims to decentralize decision-making through the Drift DAO, which will manage protocol development, security upgrades, and funding for ecosystem projects​.

What Is DRIFT Token Used for?

The DRIFT token serves several key purposes within the Drift Protocol:

  1. Governance: DRIFT token holders can vote on key decisions and proposals affecting the protocol through the Drift DAO. This includes updates to the protocol, risk parameters, and the introduction of new markets. The governance structure is divided into three branches: Realms DAO for general development, Security Council for protocol upgrades, and Futarchy DAO for funding ecosystem projects​.
  2. Ownership and Rewards: The token gives holders a tangible ownership stake in the protocol, allowing them to benefit from its success. Token holders can receive rewards for participating in governance and contributing to the protocol’s development​.
  3. Drift DEX Ecosystem Development: A significant portion of DRIFT tokens is allocated for ecosystem growth and development. This includes rewards for active traders, liquidity providers, and participants in various programs to enhance the protocol's functionality and user base​.
  4. Trade DRIFT on KuCoin: Trade Drift Protocol tokens on the KuCoin Spot Market against other crypto assets after you do your own research (DYOR). Buy, sell, or HODL $DRIFT based on your risk tolerance and investment goals.

How to Participate in Drift Protocol Airdrop

While Drift Protocol has not announced an airdrop yet, you can earn Drift Trader Points on Drift Protocol by engaging in specific activities that contribute to the platform's liquidity and trading volume. These points will help determine your eligibility for the DRIFT airdrop when it launches.

Connect your wallet to Drift DEX, trade actively, provide liquidity, and participate in market-making or staking activities to get started. Points are distributed weekly, with a total of 2 million points available each week, split between Taker and Maker activities. The exact distribution and calculation methods are designed to reward genuine participation and prevent gaming of the system.​

Here are the main ways to earn these points:

  1. Trading Volume: Actively trading on Drift's platform, both in spot markets and perpetual futures, helps you earn points. The more you trade, the more points you accumulate. Both Maker (providing liquidity) and Taker (executing trades) activities are rewarded, with points allocated based on the volume and fees generated from your trades.
  2. Providing Liquidity: You can provide liquidity through the Backstop AMM Liquidity (BAL) program. Adding collateral to specific markets supports the platform's liquidity and stability. This is considered an advanced activity due to the inherent risks but can yield significant points if done correctly.
  3. Market Making: Running active market-making strategies, such as quoting via post-only limit orders and using Just-in-Time liquidity bots, will earn you Maker Points. This involves placing orders that improve the liquidity and depth of the order books. Passive participation through market-making vaults, managed by partners like Circuit Trade, is also an option.
  4. Staking: Participating in the Insurance Fund by staking assets helps maintain the exchange’s solvency and earns you points. This fund is crucial for covering potential losses from liquidations and other risks​.

What Is Drift Protocol Tokenomics?

The maximum supply of DRIFT tokens is 1 billion. The DRIFT token distribution is given below:

  • Community: 53% of the total supply is allocated to the community. This includes:
    • Ecosystem Development and Trading Rewards: 43% for rewards to active users, liquidity providers, and traders.
    • Launch Airdrop: 10% reserved for the initial airdrop to existing users.
  • Protocol Development: 25% is allocated for current and future development of the Drift Protocol, including contributions from developers.
  • Strategic Participants: 22% is allocated to strategic partners and advisors who have supported the protocol's growth.
Drift Protocol (DRIFT) Price Movements ($)
PeriodChangeChange (%)
Today$0.01112.70%
7 Days$-0.0221-4.93%
30 Days$-0.1676-28.25%
3 Months$0.2257112.95%
24H Investment Barometer
24H
Buy
The Investment Barometer represents the current sentiment of the majority of KuCoin users. It is based on multiple indicators, and can be used as an aspect to take into consideration when planning investments.
Risk warning:Please note that the Investment Barometer is provided for informational purposes only and is not an investment advice. Investing carries risk. Please make investment decisions cautiously and based on your own judgement.
Strong SellSellNeutralBuyStrong Buy
board
Ratio of No. of Users Increased/Decreased Their HoldingsQuestionIcon
24H
Increase
Decrease
Ratio of Increased/Decreased AmountQuestionIcon
24H
Increase
Decrease
Ratio of No. of TradersQuestionIcon
24H
EmptyIcon
No data
Ratio of Trading VolumeQuestionIcon
24H
EmptyIcon
No data
Ratio of Buy/Sell OrdersQuestionIcon
24H
Buy Orders
Sell Orders
Ratio of Buy/Sell Order ValueQuestionIcon
24H
Buy Orders
Sell Orders
Drift Protocol Conversion Rate
  • 1 DRIFT to USD$0.42564446
  • 1 DRIFT to EUR€0.39807036
  • 1 DRIFT to AUD$0.64096948
  • 1 DRIFT to KRW₩591.37
  • 1 DRIFT to JPY¥68.02
  • 1 DRIFT to GBP£0.33667498
  • 1 DRIFT to INR₨35.57
  • 1 DRIFT to IDRRp7,012.96
  • 1 DRIFT to CAD$0.58284347
  • 1 DRIFT to RUB₽37.91

FAQ

How much is 1 Drift Protocol (DRIFT) worth?
KuCoin provides real-time USD price updates for Drift Protocol (DRIFT). Drift Protocol price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time DRIFT to USD exchange rates.
Is Drift Protocol (DRIFT) a Good Investment?

Adding DRIFT to your investment portfolio allows you to be part of a dynamic and community-driven decentralized exchange with opportunities for governance, rewards, and participation in a growing ecosystem​:

  1. Governance Participation: As a DRIFT token holder, you can actively participate in the protocol's governance through the Drift DAO. This decentralized structure gives you a significant voice in decision-making, including protocol upgrades, risk management, and the introduction of new markets.
  2. Community-Driven Growth: DRIFT tokens empower users by distributing governance and decision-making across the community. This decentralized approach ensures sustainable growth and aligns the protocol’s development with the community's interests.
  3. Incentives and Rewards: The protocol allocates a substantial portion of DRIFT tokens to incentivize active participation. This includes rewards for traders, liquidity providers, and participants in various platform programs. The tokenomics plan includes trading rewards, airdrops, and ecosystem development funding, which can enhance your returns.
  4. Strong Ecosystem: Since its launch, Drift Protocol has demonstrated significant growth, with over $20 billion in cumulative trading volume and a thriving community of more than 175,000 traders. Investing in DRIFT means being part of a robust and expanding ecosystem.
  5. Innovative Features: Drift Protocol leverages advanced mechanisms like the Dynamic Automated Market Maker (DAMM) and Just-in-Time (JIT) liquidity to provide efficient and low-slippage trading experiences. These innovations can offer better trading conditions and enhance the overall user experience on the platform.
  6. Support for Development: A portion of DRIFT tokens is allocated to protocol development, ensuring continuous improvements and innovations. This commitment to development can lead to the introduction of new features and enhancements that benefit token holders.
What Is Drift Protocol Price Prediction?

By staying informed about these factors and the latest developments within the Drift Protocol ecosystem, you can better understand the DRIFT price prediction:

  1. Market Demand and Supply of DRIFT Tokens: Like any other cryptocurrency, the price of DRIFT is heavily influenced by the balance of supply and demand on exchanges. High demand with limited supply can drive the Drift Protocol price up, while low demand or increased supply can lead to a drop in the DRIFT to USD price​.
  2. DRIFT Trading Volume: Higher trading volumes generally indicate strong interest and liquidity, which can positively impact the DRIFT token price. Conversely, low trading volumes might signal reduced interest and negatively affect the $DRIFT price​.
  3. Drift Protocol Development and Updates: Announcements related to protocol upgrades, new features, or partnerships can lead to positive market sentiment and an increase in the DRIFT crypto price. Drift’s continuous development and enhancements, such as the introduction of new trading mechanisms or security improvements, play a significant role​.
  4. Drift DEX Ecosystem Growth: The overall growth of the Drift ecosystem, including the number of active users, trading volume, and total value locked (TVL), can boost investor confidence and drive up the price. Successful initiatives and community engagement also contribute to this growth​.
  5. DRIFT Airdrops and Rewards: Tokens distributed through airdrops and other reward programs can influence the price. While airdrops can increase the circulating supply, they generate interest and attract new users, which may stabilize or increase the token's value over time​.
  6. General Cryptocurrency Market Trends: The overall performance of the cryptocurrency market, including trends in major cryptocurrencies like Bitcoin and Ethereum, can impact the DRIFT coin price. Market sentiment and macroeconomic factors also play a role.
How to Earn on Drift Protocol

To earn on Drift Protocol (DRIFT), you have several options:

  1. Trading: Engage in spot and perpetual futures trading. Higher trading volumes and participation in these markets can earn you rewards and potentially qualify you for airdrops​.
  2. Providing Liquidity: You can earn by providing liquidity through Backstop AMM Liquidity (BAL). This involves adding collateral to specific markets, which helps maintain liquidity and stability on the platform​.
  3. Staking: Stake your assets in Drift's Insurance Fund. This fund acts as a backstop to maintain the solvency of the exchange. By staking, you can earn a portion of the fees collected from liquidations, trading fees, and borrow/lend fees​.
  4. Participating in Drift Draw: Earn tickets by trading, which enter you into weekly draws where you can win prizes funded by the protocol’s insurance fund. The more you trade, the more tickets you accumulate, increasing your chances of winning​.
  5. Earning Drift Points: Participate in the Drift Trader Points program by providing liquidity, engaging in spot and perpetual trading, and contributing to the Backstop AMM Liquidity. Points are distributed weekly and can qualify you for future rewards and airdrops​.
What is the market cap of Drift Protocol (DRIFT)?
The current market cap of DRIFT is $626M. It is calculated by multiplying the current supply of DRIFT by its real-time market price of $626M.
How do I store Drift Protocol (DRIFT)?
You can securely store your Drift Protocol in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your DRIFT include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
How do I convert Injective (INJ) to cash?
You can instantly exchange your Injective (INJ) for cash using KuCoin's Fast Trade feature. This feature enables you to convert INJ to your local fiat currency in just a few clicks. However, make sure to complete Identity Verification first to enjoy all the features you may need.
Fear & Greed Index
Note: Data is for reference only.
Fear31
DRIFT
Estimated
-- USD
DRIFT/USDT1
$0.4256+2.03%
DRIFT PERP/USDT30
$0.42500.00%