Solana-Based Drift Protocol Raises $3.8 Million — Project Reveals Drift Alpha price ticket NFTs

While the blockchain network Solana’s native token has skyrocketed in worth in the week jumping 31.4%, the Solana-based perpetual swap platform Drift Protocol proclaimed it raised $3.8 million from strategic investors. At constant time, Drift proclaimed the launch of its alpha mainnet after many months of “grind, hard work, debugging, building security guardrails.”

Solana Perpetual Swap Exchange Drift Reveals Mainnet Launch, Raises $3.8 Million

While centralized exchanges like Binance, FTX, Bybit, and Bitmex provide crypto-based perpetual swaps, decentralized finance (defi) competitors are reaching to take the big amounts of commerce volume these commerce platforms command.

There are a variety of decentralized apps (dapps) trying to maneuver forward during this direction like dYdX, Mango Markets, and MCDEX. On October 25, a Solana-based perpetual swap platform known as the Drift Protocol launched its mainnet.

“We with success launched our mainnet at the Solana’s Chicago Hacker House, operating with the steering of Bartosz, Jordan, and aboard the remainder of the residents (HXRO and Mango teams),” the project noted on Mon. in addition, the project proclaimed the “Drift Alpha Ticket” non-fungible token (NFT) assortment and careful the platform’s team raised $3.8 million from investors. Drift explained on Monday:

“The Drift Alpha price ticket may be an assortment of 1,500 NFTs solely free by Drift through pleasing early Discord users and its partnership with defi and NFT comes on the Solana network.”

According to Drift, the $3.8 million in funding was crystal rectifier by the thesis-driven investment company Multicoin Capital. aboard Multicoin Capital, Jump Capital, QCP Capital, Not3Lau, and Alameda analysis joined.

The project aims to support tokens stemming from SOL and ETH and aims to be a “one-way path to being Solana’s prime localised futures market.” The Drift Alpha price ticket, Drift details, “is the simplest way for the team to spot and reward its early adopters and believers.”

As so much because the Solana network’s native token solana (SOL) the crypto quality has been billowy in worth in the week capturing the sixth position in terms of market cap. Solana jumped thirty one.4% in worth in the week, 51.4% over the last month, and 11,467% year-to-date.