04 May 2023•
3 min read
We are thrilled to announce that Drift Protocol, a Solana-based, open-sourced DEX, is integrating Wormhole Connect to enable users from various blockchains to participate in their markets. Wormhole Connect is directly integrated into Drift’s interface, providing users with a seamless cross-chain experience without ever having to leave the Drift website.
Drift Protocol is a DEX (decentralized exchange) built on the Solana blockchain, enabling transparent and non-custodial cryptocurrency trading. Drift Protocol is designed to provide a seamless trading experience with low slippage, low fees, and minimal price impact amongst four primary products:
Drift Protocol achieves a balanced and efficient trading environment by utilizing three liquidity mechanisms: Just-in-Time Auction Liquidity, Limit Orderbook Liquidity, and AMM Liquidity. These mechanisms work together to provide traders with a competitive and seamless trading experience.
Drift's cross-margined risk engine further enhances the capabilities of the protocol, allowing for more efficient use of assets and extending functionalities across the platform. The validator-like Keeper Network ensures that the order execution is optimized and provides competitive pricing for users.
Keepers are a crucial component of Drift Protocol's decentralized trading ecosystem. They are a network of agents and market makers who are incentivized to provide the best order execution for traders on Drift. Keepers play several important roles in the protocol:
The protocol's order book, liquidity, and liquidation layer are powered by a validator-like Keeper network. They are a network of agents and market makers who are incentivized to provide the best order execution for traders on Drift. Keepers can route orders throughout the multi-sourced liquidity mechanisms that are designed to scale effectively and offer competitive pricing, even with larger order sizes.
Drift Protocol allows users from various blockchains to access their DeFi products by integrating Wormhole Connect. Wormhole Connect is an embeddable frontend component that makes going cross-chain easy by enabling developers to integrate the bridging process directly into their app/website’s native user interface.
See for yourself:
Integrating Wormhole Connect will provide Drift users with seamless cross-chain functionality, enhancing their overall experience and supporting Drift and Wormhole’s mutual goal of driving the growth and widespread adoption of DeFi.
Are you interested in learning more about incorporating bridging functionality using Wormhole Connect? Spoiler: It only requires you to copy and paste as few as 3 lines of code. Learn more about Wormhole Connect.
Stay up to date with Drift Protocol by following their social channels:
If you’re new to Wormhole, here’s what you need to know:
Wormhole is the industry standard cross-chain messaging protocol powering applications across Web3. Wormhole provides developers access to liquidity and users on over 20 of the leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more. Wormhole enables a growing suite of products to build on its messaging layer - Wormhole Connect is a key asset layer product, providing developers an in-app bridging widget that can be integrated in as few as 3 lines of code. The wider Wormhole network is trusted and used by teams like Circle and Uniswap, and to date, the platform has facilitated the transfer of over 35 billion dollars through hundreds of millions of cross-chain messages.
Learn more on wormhole.com.
If you have questions, need support, or simply want to connect, join the Wormhole community and keep up-to-date with our upcoming announcements. We’re always happy to hear your feedback.
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