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Drift
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Drift
@DriftProtocol
Trade perps on Solana with ultimate performance:
Deep liquidity, multi-asset collateral and yield on all deposits.
- Drift reposted
A common question we're getting on the Drift relaunch is: why is it taking so long? Why do you even need a 'relaunch' when it was already live? One of the biggest decisions early on was: new program or reuse the old one? We decided to launch with an entirely new program/program - Drift repostedWhile it's been an epic few years at Helium, I couldn't resist the call of another migration-level challenge. Those of you who know me know I can't resist chewing some glass. As such, I am going to join @DriftProtocol team and help them relaunch. Why? Because I genuinely believe
Replying to @DriftProtocolOur priority remains relaunching Drift as a security-first, perps-native exchange, and accelerating the path to user recovery through performance. We will continue to share updates - including detail on recovery mechanics and timing - as they become available. The work- Replying to @DriftProtocolWe are also providing an update on the Mandiant investigation, which has conclusively attributed the attack to UNC6862, a North Korean threat group with direct ties to other state-sponsored actors involved in similar attacks on other platforms.
- Replying to @DriftProtocolOur focus is on rebuilding the protocol, with security first. @redacted_noah, previously the Head of Protocol Engineering at Helium, will be joining Drift as Head of Protocol and will be focused on strengthening the code base and reinforcing protections in the platform structure.
- Today we are sharing an update on Drift recovery and relaunch
- Drift reposted
CLARIFICATION: DIP-10 is unrelated to the Insurance Fund. It is specifically about the remaining spot assets in the Borrow/Lend pool, and proposes to authorise Drift Foundation to convert those assets into stablecoins to seed the recovery pool at launch. Affected users willVote for DIP-10: Treatment of Remaining Asset in Borrow Lend is currently live.
- Drift reposted
Vote for DIP-10: Treatment of Remaining Asset in Borrow Lend is currently live. - Update: Insurance Fund depositors will be able to withdraw their Insurance Fund stake when the protocol goes live. Drift’s documentation and code demonstrates that the Insurance Fund exists to maintain protocol solvency in the event of bankruptcies. Given that the protocol was
