On-chain perpetual swaps
External link for Drift Labs
Calling all buildooors 📢 Enter the Colosseum arena. Register now: https://lnkd.in/d4hPxsGv
Proud to announce that Drift Labs is sponsoring the DeFi track of the Radar Hackathon by Colosseum! This is yet another way for us to be a steward for the ecosystem and work with teams that are looking to build on Solana DeFi.
Drift Labs reposted this
BET by Drift Labs is built to be the first capital-efficient prediction market on Solana and the ecosystem's answer to Polymarket. Capital efficiency is a differentiator for two reasons. 1. You can trade with any collateral that is available on Drift. Unlike other platforms where you can only interact with USDC, Bet allows you to trade with any asset. SOL, JTO, JUP, CLOUD, KMNO, PYTH, W can ALL be used as collateral. 2. You can earn while you BET. All deposits will be able to collect yield as part of Drift's cross-margin system. For instance, PYUSD is yielding approximately ~20% at the time of writing this post. Imagine placing your Bet for the 2024 election and able to earn a yield on it while you are locked in that position. You can do more with your collateral. Ultimately, BET is going to be more than just election markets. It is going to represent capital markets for truth
gm, coming soon ⚡
Drift Labs is challenging Polymarket's prediction market dominance. Its secret weapon? Tapping into the mighty Solana network. Tim Craig reports how Drift Labs initiative comes as crypto prediction markets have exploded in popularity this year. These platforms let users bet on everything from the outcomes of sporting events, geopolitics, and even the highest grossing movie of the year. But by far the most popular bets are for those surrounding the 2024 US presidential election. Drift Labs, the firm behind the trading platform Drift protocol, is attempting to cash in on the demand for election betting to lure users and challenge top prediction market Polymarket’s dominance. https://lnkd.in/ekpQhX_U