Although blockchain network Solana’s native token has skyrocketed in price by 31.4% this week, the Solana-based perpetual swap platform Drift Protocol has announced that it has raised $ 3.8 million from strategic investors. At the same time, Drift announced after several months of his Alpha Mainnet “crushing, hard work, debugging, building security guards”.
Solana launches Perpetual Swap Exchange Drift Mainnet launch, 3.8 million
Although centralized exchanges such as Binance, FTX, Bybit, and Bitmex offer crypto-based perpetual exchanges, decentralized finance (defi) competitors aim to capture large amounts of trading volume at the behest of this trading platform.
Many decentralized apps (dapps) like Dividex, Mango Markets and MCDEX are trying to move in this direction. On October 25, a Solana-based perpetual switching platform called Drift Protocol launched its mainnet.
“We have successfully launched our mainnet at Solana’s Chicago Hacker House, working with Bartoz, Jordan’s Guide and the rest of the residents (HXRO and the Mango team),” the project noted Monday. In addition, the project announced the collection of “Drift Alpha Tickets” non-fungible tokens (NFT) and the platform team collected $ 3.8 million from investors. On Monday, Drift explained:
Drift Alpha Ticket is a collection of 1,500 NFTs released exclusively by Drift to reward early discord users and through its partnerships with defi and NFT projects on the Solana network.
According to Drift, the 3.8 million financing was managed by thesis-driven investment firm Multicoin Capital. In addition to Multicoin Capital, Jump Capital, QCP Capital, Not3Lau, and Alameda Research have joined.
The project aims to support tokens derived from SOL and ETH and aims to be the “one-way street to become Solana’s top decentralized future exchange”. Drift Alpha Ticket, Drift details, “a way for the team to identify and reward its early adopters and believers.”
As far as Solana Network’s native token Solana (SOL) is concerned, the value of crypto assets is rising this week and ranks sixth in terms of market cap. Solana jumped 31.4% in price this week, up 51.4% last month and 11,467% year-over-year.
What do you think of Solana-based Permanent Swap Dex Drift raising 3.8 million and launching its Alpha Mainnet on Monday? Let us know what you think about this in the comments section below.
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