Drift

Drift is the largest decentralized perpetual exchange on Solana with $1.06B TVL. In the scope of their product, they enable users to earn yield via multiple components of the protocol – lending, insurance fund vaults, SOL liquid staking, and trading strategy vaults.

• Lending: allows users to deposit their assets into liquidity pools to earn yield paid by borrowers
• Trading strategy vaults: enable users to deposit assets into vaults managed by teams such as Gauntlet and earn yield based on the success of the employed strategy.
• Insurance fund vaults: allow users to earn a portion of the fees from perp trades, borrowing, and liquidations on the Drift platform. The Insurance Fund is the protocol's backstop to maintaining the solvency of the protocol.
• SOL liquid staking: users can liquid stake SOL to receive dSOL which earns competitive yields and may be used across the Solana DeFi ecosystem.

Considerations

• When a user interacts for the first time, the initial transaction creates a new account on Drift and deposits assets. Users need to have $5 worth of SOL (0.04644784 SOL) in their wallet to cover account creation and transaction fees.

Integration IDs

Solana