Drift coin是什么？Drift Protocol详解

Source: BTCHaber Original Title: What is Drift coin? Original Link:

Introduction to Drift coin

Drift coin is the governance token of Drift Protocol. Drift Protocol is a decentralized exchange built on the Solana blockchain(DEX). In other words, it is a platform that allows users to buy and sell cryptocurrencies, borrow, and lend assets directly from their crypto wallets.

How It Works

On Drift, users trade directly through their own wallets. This means users have full control over their assets. All transactions on the platform are recorded on-chain in real-time. Through a hybrid liquidity mechanism, trades are not executed from a single source.

The hybrid structure employs instant trading(JIT) auctions, decentralized limit order books(DLOB), and reserve automated market makers(AMM). This approach aims to provide deep liquidity even during periods of volatility.

Risk Management

Drift manages risk control through a cross-collateralization structure. All trades are centralized in a global collateral vault. This is designed to ensure smooth lending and trading operations.

Assets are weighted based on their volatility. For example, USDC can be used at a 1:1 ratio, while more volatile assets like Solana may only provide collateral worth 80% of their value. Users can also use a feature called sub-accounts to isolate and perform various operations separately.

The protocol relies on decentralized agents and external data sources to operate normally. Keeper bots perform essential tasks such as order matching, triggering stop-losses, and liquidating unhealthy accounts, all fully off-chain.

The platform uses external price data to achieve fair market prices. This data is crucial because liquidations and funding rates are not only based on the current trading prices on exchanges but are triggered by oracle prices. This process is designed to protect the system from price manipulation.

Token Uses and Functions

Perpetual Contracts

With perpetual contracts, users can make unlimited predictions on whether an asset’s price will rise or fall. Drift offers a maximum leverage of 101x for these trades.

Spot Trading

Through spot trading, users can buy and sell directly. These trades also offer up to 5x leverage.

Lending

With the lending feature, users can deposit assets to earn yields or borrow assets as collateral.

Prediction Markets

The prediction market feature allows users to forecast the outcomes of real-world events.

How to Buy Drift Coin

First, you need to create an account on a cryptocurrency exchange. Then, complete the identity verification process for your account. To complete the purchase process, your wallet must have a balance. If there is no balance, you can choose payment methods such as bank transfer or credit card. After depositing funds, you can buy the desired amount of assets.

The purchase steps typically include:

1. Click on “Buy/Sell” or “Market” at the top of the trading platform homepage, then enter the token name in the search bar
2. On the buy/sell page, click the “Buy” button to start trading(If you do not have an account, registration is required)
3. Enter the amount you want to buy and confirm the transaction
4. Finally, click the “Buy” button again to confirm the transaction; the purchase will be executed immediately