Solana-Based Perpetual Swaps DEX Drift Protocol Raises $3.8M

Posted on by American Coins & Gold

Solana-Based Perpetual Swaps DEX Drift Protocol Raises .8M
Venture cash keeps pumping into Solana-based decentralized finance (DeFi), as crypto derivatives exchange Drift Protocol is the latest to benefit with a $3.8 million seed round of funding.Multicoin Capital led the token sale with crypto trading firms Jump Capital and Alameda Research joining the round, among others. Their participation highlights market makers’ appetite for exposure to Solana’s still-nascent decentralized exchange (DEX) scene.Drift focuses on perpetual swaps, or futures contracts without an expiry. Across all of crypto, that market saw $170 billion in trading volume over the last 24 hours, according to CoinGecko, with the lion’s share riding atop the Ethereum…