Coinbase has added a new Solana (SOL)-based decentralized exchange (DEX) altcoin to its listing roadmap.
On Tuesday, the top US cryptocurrency exchange listed Drift Protocol (DRIFT). In the middle We aim to be able to trade on that platform in the future.
Drift is an open source DEX that enables transparent non-custodial trading.
Explaining the project,
“Drift was designed with the goal of increasing capital efficiency while protecting assets. We have set up a sophisticated cross-margin risk engine, a system of tools that broadly protects against excess risk. I achieved this by for example:
- In lending and borrowing markets, spot assets can also be traded more efficiently using perpetual futures collateral.
- Every token you deposit allows you to earn more profits through borrowing and also serves as collateral for perpetual swaps.
- Borrowers can only borrow if they have more collateral than they need, with multiple safeguards in place for additional protection. ”
The Drift Foundation plans to air drop On Thursday, 12% of DRIFT’s supply (120 million tokens) was supplied. At the time of writing, this asset is not yet traded.
To explain the basics,
“This marks an important step towards decentralizing the Drift protocol, recognizing our loyal users, and giving the community a greater say in the future development of the protocol.”
Coinbase has created a listing roadmap for 2022 to increase transparency and reduce the likelihood that investors will get ahead of the announcement of new trading support.
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