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BET on Drift Profile picture
@DriftProtocol
Aug 19 • 8 tweets • 3 min read • Read on X
Introducing BET: The First Capital-Efficient Prediction Markets on @solana

Bet bigger on the future.
Hedge on a unified platform.
Earn yield from your positions.
Prediction markets are DeFi’s next frontier, merging trading with real-world outcomes.

With today’s launch of BET, Drift transforms global sentiment shifts into tradeable, decentralised foresight.

This is the future of on-chain trading. Image
Discover a unique prediction market experience with BET:

⚡ Solana's speed and low-cost
⚡ Earn yield on your positions
⚡ Trade with all supported collateral
⚡ Unified liquidity from Drift's $500M+ pool of deposits
⚡ Incentivized markets via FUEL Image
With 30+ crypto assets available, use more assets on Drift's prediction markets — not just USDC.

Utilize yield-bearing stables like PyUSD & USDY, your favorite tokens on Solana, including LSTs from @jito_sol, @MarinadeFinance, @sanctumso and more!
All trading activity on BET will receive a 5x FUEL boost for the next 2 weeks.

FUEL rewards the most loyal driftoors, with redemptions coming soon for prizes within the Drift and Solana ecosystem. Lock in.
Explore the US Election prediction market: app.drift.trade/bet
Read more: drift.trade/updates/introd…
These are the only official community channels, beware of scams.

Discord:
Telegram: discord.gg/driftprotocol
t.me/+G4i0AZcHf6cxN…
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More from @DriftProtocol

BET on Drift Profile picture
Jul 17, 2023
1/ Introducing Leveraged Swaps on Drift!

Using the power of flash loans and @JupiterExchange, Drift traders now have access to the best prices on Solana and up to 5x leverage with just one click! 👾 https://t.co/5iBenTXU5ttwitter.com/i/web/status/1…
Image
2/ With Leveraged Swaps on Drift users can:

- Swap between any supported pair with up to 5x leverage
- Get the best price/lowest slippage for your swap, powered by Jupiter
- All in your Drift account
3/ How do Leveraged Swaps work?

Leveraged Swaps utilise Drift’s borrow/lend program to allow access to “flash loans” that increase your swap power by up to 5x with just one click.

The swaps integrate with @JupiterExchange to ensure traders are receiving the best prices Image
Read 5 tweets
BET on Drift Profile picture
Aug 2, 2022
Yesterday @Fiskantes renewed his bullish thesis on DEXs for decentralised derivatives such as perpetual futures.

So, why do decentralised derivatives make sense?

The answer is simple 🧵
The main reason for decentralised derivatives such as perpetual futures are:

1️⃣ Self-custody

2️⃣ Permissionlessness (no KYC)

3️⃣ Self-sovereignty

➡️ DeFi rails (Drift) > CeFi rails (Binance, Coinbase, FTX & Kraken)

cc: @aeyakovenko

For more on this, read our Web2 vs. Web3 guide ⬇️

drift.trade/blog/web2-vs-w…
Read 14 tweets
BET on Drift Profile picture
Aug 17, 2021
1/ Drift Labs is excited to announce a new brand that mirrors the team's long-term vision of a lightning fast, decentralised derivatives protocol.

@DriftProtocol brings on-chain, cross-margined perpetual futures to @solana. Making futures DEXs the best way to trade. Image
2/ A brief history on derivatives -- the first modern derivatives exchange operated in 18th century Edo Japan, as the Dōjima Rice Exchange, where rice farmers, merchants and brokers traded the world's first cash-settled commodity futures through a central clearinghouse. Image
3/ Dōjima Rice Exchange is emblematic of an analogue world: traders yelling to fill orders, bookkeepers struggling to keep track of trades, and a clearinghouse struggling to track of each merchant's margin.
Read 16 tweets
BET on Drift Profile picture
Jun 16, 2021
👉 🧵 A Primer on Perpetual ♾️Swaps:

1/ A perpetual swap is a type of delta-one futures contract which has no expiry date. The contract has no intrinsic value and instead has a mark price, which is used to calculate PnL (Profit and Loss) and trigger liquidations. 💥
2/ Perpetual swaps make it intuitive for traders to use futures as they never need to be rolled. Since perpetuals are just contracts they can deviate from their underlying price so stay tethered to their spot prices in terms of their premiums with a funding rate mechanism. ⚙️
3/ Funding rates keep the mark price of the perpetual swap close to the asset’s spot index price (usually an average of spot TWAPs from multiple exchanges). In a zero-sum game, the OI (Open Interest) of long positions will always be equal to the OI of short positions. 🖇️
Read 11 tweets

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