Drift v3 Launch Boosts Solana Derivatives Exchange Speed Tenfold
According to Drift, the upgrade delivers CEX-level performance on Solana with faster execution, reduced slippage, and enhanced trading tools for a smoother DeFi derivatives experience.
Drift, one of the largest perpetuals trading platforms on Solana, has launched Drift v3, delivering a tenfold speed improvement via a rebuilt backend. About 85% of market orders now execute in under half a second, with slippage on large trades reduced to around 0.02%. Updated tools like take-profit and stop-loss orders operate within a single Solana slot, and oracle prices refresh at the same pace. The release also introduces a refreshed UI with a cleaner portfolio page, clearer account displays, and an improved borrow-lend section. Drift plans future features including auto-signing, easier deposits, isolated margin, and a mobile app, alongside testing a Drift Liquidity Provider Pool for simplified yield generation.
- Perpetuals: A type of derivatives contract with no expiry date, allowing traders to hold positions indefinitely.
- Slippage: The difference between the expected execution price of a trade and the price at which it is actually completed.
- Oracle: A service that provides real-world data, such as asset prices, to a blockchain for smart contract use.