Drift: score, security record and what it is for

70/100SCORE · BMixed record Grade B, very good

Drift is the leading perpetuals venue on Solana. Its original version was exploited for around 10 million dollars in 2021; it was rebuilt as v2, users were largely made whole, and the record since has been clean.

The facts

LIVE SINCE: 2021
TYPE: Perpetuals orderbook
CHAINS: Solana
SWAP FEE: Around 0.02 to 0.10 percent.
AUDITS: Audited.
WHO CAN CHANGE IT: DRIFT token governance.

How the score breaks down

security21/30

liquidity17/25

chains8/15

costs14/15

decentralisation10/15

Where it is strong and where it is not

✓ Strengths

The main perpetuals venue on Solana
Rebuilt after its 2021 failure and clean since
Very cheap and fast

✗ Weaknesses

The original version failed in 2021
Solana only
Perpetuals are high risk by nature

Exploit history

2021

A design flaw in the original version was exploited for around 10 million dollars. The protocol paused, was rebuilt as v2 and users were largely made whole.

Our read

Failed early, rebuilt properly, and has run clean since. That is a better trajectory than most.

BEFORE YOU SWAP

Swap keeps failingSlippage, approvals, taxes and thin liquidity. Revoke approvalsEvery swap leaves a permission behind. Clear them. Gas tokensWhy you need the chain's native coin first. Pick a walletYou need self custody before you can use any DEX.

RISK WARNING Crypto assets are highly volatile and largely unregulated. You can lose everything you put in. Nothing on this page is financial, investment or tax advice, and nothing here is a recommendation to buy or sell any asset. Do your own research and never commit money you cannot afford to lose.