Drift is excited to announce a $25M Series B led by Multicoin Capital with participation from Blockchain Capital, Primitive Ventures, and Folius Ventures, bringing Drift’s total funding to date to $52.5M.

Drift is the first on-chain platform to offer cross-collateral margin accounts across a DeFi product suite, spanning perpetual derivatives markets, spot markets, borrow-lend markets, and prediction markets.

The funds raised will be directed towards Drift’s mission of building the most capital-efficient Defi platform in the world. A SuperApp that offers you all your favorite trading products under one roof.

Drift’s Growth Story

• BET Launch: Drift has recently launched BET, the first capital-efficient prediction market on Solana. And it has already attracted over $25M in volume within weeks of its launch
• Volume Growth: Drift has experienced a 50x growth in trading volume and TVL over the past year and has achieved over $50B in cumulative volume to date
• User Growth: Drift now services over $500M in deposited assets with more than 200,000 users
• Ecosystem: The GAS program is designed to accelerate the growth of the Drift ecosystem by focusing on three key pillars(GAS): Grants, Attention, and Support. This initiative supports Drifts core products while expanding its network of builders beyond core contributors

What’s Next?

The funding round helps Drift pursue two main goals: growing the team with top talent and funding the development of the first of its kind DeFi Superapp on Solana with:

• On-chain OTC platform: An on-chain OTC platform allows institutional traders to go directly to market makers, enabling large trades with minimal slippage that are impossible within the constraints of DeFi liquidity today 
• Development of new markets: Drift plans to expand beyond its current offerings to include options, synthetic commodities, and traditional assets. This expansion will create a comprehensive platform where users can trade various assets, use leverage, lend for yield, hedge with options, and participate in prediction markets—all within a single, capital-efficient, cross-margined account
• Doubling down on mobile: Drift plans to leverage its new funding to expand the accessibility of BET through a dedicated mobile app
• Targeting High-Potential Markets: Drift plans to localise its trading platform and deploy new community managers to help improve accessibility in strategic markets, including Japan, Korea, and Africa

What Drift Investors Are Saying

"We believe Drift is having its Binance moment in DeFi. Over the last three years, Drift has proven themselves to be one of the most resilient teams in DeFi. They shipped relentlessly through the bear market and emerged as the strongest DeFi platform this year," said Spencer Applebaum, Investment Partner at Multicoin Capital

Join the Drift Community

🌐 Visit us at drift.trade 

💬 Connect with us on Discord 

👾 Find us on 𝕏 — @DriftProtocol 

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