# Drift Protocol

**Source:** https://www.startuphub.ai/startups/drift-protocol
**Profile type:** Startup

> A decentralized perpetual exchange on Solana.

## About

Drift Protocol is a decentralized perpetual exchange (DEX) built on the Solana blockchain. It aims to provide a robust and efficient platform for users to trade perpetual futures contracts with deep liquidity and low latency. Following an exploit in April 2023, Drift announced a collaboration with Tether and other partners for a proposed support package to facilitate its relaunch as a leading USDT-based perpetual DEX on Solana.

## Key facts

- **Slug:** drift-protocol
- **Website:** https://drift.trade/
- **Location:** Miami, Florida, USA
- **Founded:** 2021-01-01 00:00:00
- **Operating status:** Active
- **Total funding:** $148M
- **Sectors / tags:** Cryptocurrency, Decentralized Finance (DeFi), Blockchain, Financial Services
- **Social:**
  - LinkedIn: https://www.linkedin.com/company/drift-protocol/
  - Twitter: https://twitter.com/DriftProtocol
  - GitHub: https://github.com/drift-protocol

## Frequently asked

### What does Drift Protocol do?

Drift Protocol is a decentralized perpetual exchange (DEX) built on the Solana blockchain. It aims to provide a robust and efficient platform for users to trade perpetual futures contracts with deep liquidity and low latency. Following an exploit in April 2023, Drift announced a collaboration with Tether and other partners for a proposed support package to facilitate its relaunch as a leading USDT-based perpetual DEX on Solana.

### What is Drift Protocol's revenue?

StartupHub estimates Drift Protocol's annual revenue at $49.3M (range $35.7M to $118.9M, 42% confidence), based on comparable companies in the sector.

### What is Drift Protocol's valuation?

StartupHub estimates Drift Protocol's effective valuation at $721.4M (range $505.0M to $937.8M, 29% confidence), based on comparable companies in the sector.

### How much funding has Drift Protocol raised?

Drift Protocol has raised a total of $148M in funding. The most recent round on record is Strategic.

### Where is Drift Protocol headquartered?

Drift Protocol is headquartered in Miami, Florida, USA.

### When was Drift Protocol founded?

Drift Protocol was founded in 2021.

### What industry does Drift Protocol operate in?

Drift Protocol operates in Cryptocurrency, Decentralized Finance (DeFi), Blockchain, Financial Services.

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