Solana-Based Drift Protocol Raises $3.8 Million — Project Reveals Drift Alpha Ticket NFTs

http://motleybloggers.com/wp-content/uploads/2021/10/solana-based-drift-protocol-raises-3-8-million-project-reveals-drift-alpha-ticket-nfts.jpg

Solana-Based Drift Protocol Raises $3.8 Million — Project Reveals Drift Alpha Ticket NFTs

While the blockchain network Solana’s native token has skyrocketed in value this week jumping 31.4%, the Solana-based perpetual swap platform Drift Protocol announced it raised $3.8 million from strategic investors. At the same time, Drift announced the launch of its alpha mainnet after several months of “grind, hard work, debugging, building security guardrails.”

Solana Perpetual Swap Exchange Drift Reveals Mainnet Launch, Raises $3.8 Million

While centralized exchanges like Binance, FTX, Bybit, and Bitmex offer crypto-based perpetual swaps, decentralized finance (defi) competitors are aiming to take the large amounts of trading volume these trading platforms command.

There are a number of decentralized apps (dapps) attempting to move forward in this direction like dYdX, Mango Markets, and MCDEX. On October 25, a Solana-based perpetual swap platform called the Drift Protocol launched its mainnet.

“We successfully launched our mainnet at the Solana’s Chicago Hacker House, working with the guidance of Bartosz, Jordan, and alongside the rest of the residents (HXRO and Mango teams),” the project noted on Monday. Additionally, the project announced the “Drift Alpha Ticket” non-fungible token (NFT) collection and detailed the platform’s team raised $3.8 million from investors. Drift explained on Monday:

The Drift Alpha Ticket is a collection of 1,500 NFTs exclusively released by Drift through rewarding early Discord users and its partnership with defi and NFT projects on the Solana network.

According to Drift, the $3.8 million in financing was led by the thesis-driven investment firm Multicoin Capital. Alongside Multicoin Capital, Jump Capital, QCP Capital, Not3Lau, and Alameda Research joined.

The project aims to support tokens stemming from SOL and ETH and aims to be a “one-way path to being Solana’s top decentralised futures exchange.” The Drift Alpha Ticket, Drift details, “is a way for the team to identify and reward its early adopters and believers.”

As far as the Solana network’s native token solana (SOL) the crypto asset has been surging in value this week capturing the sixth position in terms of market cap. Solana jumped 31.4% in value this week, 51.4% over the last month, and 11,467% year-to-date.

What do you think about the Solana-based perpetual swaps dex Drift raising $3.8 million and launching its alpha mainnet on Monday? Let us know what you think about this subject in the comments section below.

Origina post from
http://motleybloggers.com/solana-based-drift-protocol-raises-3-8-million-project-reveals-drift-alpha-ticket-nfts/

Comments

US Senator Urges Congress to Pass Her Crypto Bill — Claims It Would’ve Prevented FTX Bankruptcy

http://motleybloggers.com/wp-content/uploads/2022/11/us-senator-urges-congress-to-pass-her-crypto-bill-claims-it-wouldve-prevented-ftx-bankruptcy.jpg U.S. Senator Cynthia Lummis believes that the FTX bankruptcy wouldn’t have happened under the Lummis-Gillibrand crypto bill. She stressed: “It’s clearer now than ever before that we need comprehensive regulation in the digital asset space.” Senator Lummis Explains How Her Crypto Bill Would Prevent the FTX Catastrophe U.S. Senator Cynthia Lummis (R-WY) explained in a series of tweets Monday why the collapsed cryptocurrency exchange FTX wouldn’t have gone bankrupt had Congress passed her crypto bill. The cryptocurrency trading platform filed for bankruptcy last week. The senator from Wyoming has been a supporter of bitcoin for quite some time. She personally owns BTC and believes that bitcoin is something that the Federal Reserve should hold on its balance sheet. She has said repeatedly that the cryptocurre...

Bitcoin, Ethereum Technical Analysis: ETH Back Under $2,000 as Balenciaga Gains Lose Steam

https://motleybloggers.com/wp-content/uploads/2022/05/bitcoin-ethereum-technical-analysis-eth-back-under-2000-as-balenciaga-gains-lose-steam.jpg Following strong gains to start the week, BTC once again fell under $30,000, as crypto prices moved lower on Tuesday. The downturn follows up from yesterday’s rally, which came as Balenciaga announced it would be accepting crypto payments. ETH also dropped, falling under $2,000 today. Bitcoin Bitcoin fell under $30,000 on Tuesday, as bears returned to action following a green start to the week. Following a high of $30,547.50 during Monday’s session, BTC /USD fell to an intraday low of $28,975.56 earlier today. Today’s drop saw BTC fall by over 5% in the day, as bullish sentiment following the Balenciaga crypto announcement faded. BTC /USD – Daily Chart Since then, bears have now pushed prices closer to support at $28,800, which is an area where BTC has resided over the past few weeks. Looking at the chart, the 14-da...

Tiffany & Co. NFT Sale Sells out, Luxury Jewelry Retailer Rakes in $12.5M in Ethereum

http://motleybloggers.com/wp-content/uploads/2022/08/tiffany-co-nft-sale-sells-out-luxury-jewelry-retailer-rakes-in-12-5m-in-ethereum.jpg On August 5, 2022, the American luxury jewelry retailer Tiffany & Co. announced that the company’s non-fungible token (NFT) mint called “Nftiff” sold out. Tiffany’s sold 250 Nftiffs for 30 ethereum per Nftiff raking in more than $12.5 million from the sale. The NFTs created by Tiffany’s have to be redeemed by August 12 and so far 94 Nftiffs have been redeemed. Tiffany & Co. NFT Sale Sells Out Gathering $12.5 Million in Ether Six days ago, MotleyBloggers.com News reported on Tiffany & Co. revealing an NFT mint called “Nftiff,” a new product crafted by Tiffany’s that combines non-fungible token technology and luxury jewelry. Since then Tiffany’s has hosted its sale and all 250 NFT units sold out, according to a tweet published by the company on August 5. “Depending on which Crypt...

motleybloggers

Search This Blog