cindy
@cindyleowtt
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cofounder @DriftProtocol | ex crypto prop trading
π
Joined January 2017
Today, we're launching BET on Drift β the first capital efficient prediction markets on @Solana @DriftProtocol . Here's why, and why now:. A prediction market is not only a natural extension of trading β itβs the future of trading. Prediction markets are the natural evolution of
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FOUNDER MODE . Singapore Hawker Center style interview + mukbang @ Lau Pa Sat. Featuring the best founder duo Toly & Raj π @aeyakovenko @rajgokal @davijlu . FULL VIDEO OUT SOON
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Today, at Breakpoint in SG, we announced a $25M Series B round, with total funding up to $52.5M to date to take us 100x from where we are now . This funding will accelerate our pathway to become the most liquid, composable and capital-efficient DeFi platform in crypto across
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INSANE day π€―. Today, Drift BET did $20m in 24-hour volume after one week of being live . Solana manlets truly love prediction markets
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The power of long-term manifestation is real . A short story on Drift lore: I visited Tokyo in April 2023 during deep Solana bear when Drift v2 was just getting started. SOL was under $20, we had ~$1m in TVL, market was bleak post-FTX, and everything seemed hopeless. But we
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What an insane day. After being live on Solana for nearly 2 years, Drift launched its genesis airdrop today. 1/ >50% of the airdrop was claimed today, with ~12M DRIFT used to stake as collateral in Drift (25% of the drop!). With our cross margin model $DRIFT can be used as.
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WIF is our largest market today after BTC/ETH/SOL. Hats are eating the world.
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This week has been one of the more adverse conditions for airdrops . Despite that, @KaminoFinance has proven that they're serious builders, built through the deep bear, and shipped one of the best products on Solana to date w/ $1b+ TVL . Bullish Kamino team.
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This is not a simulation . DRIFT MCLARENS have landed in Singapore and are ready to ride
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I love that the recent Fortune article on our round highlighted that we are a female-led company . My goal is to build a culture that wins by being open-minded, respectful and fully merit-based β regardless of who you are. Crypto is no longer a boys club.
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Drift Launch Airdrop Eligibility Checker is Live β¨. DRIFT DELIVERS. This is a monumental day for @DriftProtocol . Drift has been live on Solana since 2021 and is now the biggest open-sourced Perp DEX with 200k+ traders & $25B in cumulative volume. Today, with the launch airdrop
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The best hires are crypto native with operational experience, high agency and low ego.
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Ok this is actually insane . The largest ever ETH -> SOL USDC bridge tx on @deBridgeFinance just happened. And it was deposited straight into Drift. A trader bridged $4,000,000 via @wintermute_t to @DriftProtocol in a single tx. You are not bullish enough on Solana
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Gm friends - I'm launching a video series on all things DeFi trends + Drift + (real) AI use cases for DeFi ππ«Άπ». Today I'm covering our most hyped recent launch, Drift Vaults - the best stable farms on Solana for these choppy markets. Crypto media arc incoming π
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One of the biggest @deBridgeFinance bridge transactions just took place (again). $4,000,000 USDC from Ethereum to Solana . Deposited straight to Drift to earn 30%+ yields on pure USDC. TVL flip soon
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Can't understate the importance of @Circle's CCTP's launch today on Solana. Instead of depositing into centralized exchanges or lock/mint bridges to move USDC around, you can now *natively* transfer USDC from any EVM chain to Solana . Cross-chain UX/trading will get 100x smoother
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BULLISH ON EVERYTHING. Find us at Breakpoint for merch, rides, wifi and no trading advice π
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Sharing some thoughts on how we grew from $1m to $88m+ TVL this year. TLDR: Growing *useful* TVL β TVL that's used for liquidity, security, leverage β is key for sticky capital π§.
Our TVL just hit $85m and volume is literally going parabolic @DriftProtocol . Canβt believe we started the year on <$1m TVL
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Our TVL just hit $85m and volume is literally going parabolic @DriftProtocol . Canβt believe we started the year on <$1m TVL
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Some appchain "perp DEXes" may have smooth UX, but are just CEXes with extra steps. Drift could have done what's easy and built a closed-source appchain exchange β but I didn't grind day and night everyday for the last 3 years on Solana DeFi to build a CEX clone . That is.
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Couldn't be more excited to unveil this news after three years of hardcore grinding through the best and the toughest of times . It feels surreal that we've gotten to this point, but this is just the start. Infinite hypergrowth incoming π.
Introducing $DRIFT β the Drift Governance Token. DRIFT is the governance token of Drift Protocol, the largest open-sourced perpetual futures exchange built on Solana.
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1/ Drift's hybrid decentralised limit orderbook (DLOB) is live! πΎ. We've reimagined how limit orders can work more efficiently on chain. DLOB is the first hybrid OB that settles against virtual AMM liquidity. @DriftProtocol. A 𧡠on how it works + why it matters:
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We've grown from $1m β‘οΈ $16m TVL this year . Now >95% of perp market share on Solana. Out here building a sustainable growth machine
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Makes me extremely happy to see Malaysiaβs crypto scene grow . First of many events out in KL!. @DriftProtocol x @_kaitoai at Solana Summit ππ²πΎ
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Fundraising is the easy part fwiw . Raising money only ensures short-term survivability. The hard parts: .- Doing the work .- Building an enduring team .- Spending every waking hour thinking about growth / long-term PMF.- Continuing to ship despite criticism or no traction.
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1/ A π§΅on on-chain AMM pricing for options:. AMMs are useful for spot swaps, but the deterministic nature of AMM pricing makes it tough to accurately price complex derivatives that rely on exogenous, fast-moving inputs.
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Perps on Drift v2 is launching very soon - I'm excited to share alpha on what's new! . Introducing: @DriftProtocol v2 Liquidity Trifecta
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Excited to speak at @TOKEN2049 Dubai next week. Will be announcing something BIG . Comment if you're around π€
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We just listed the first on-chain $WIF perps with 4x leverage πΆπ§’ . Only possible with isolated insurance pools & speedy oracles @PythNetwork
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Tokenized RWAs as collateral and Ondo x Drift Partnership. Drift is building Solanaβs financial layer β a home for tokenized assets onchain. The platform has $400m in deposits across +20 assets (LSTs, ecosystem tokens, stables, RWAs) and $80m in borrowed assets. Drift is the only.
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$DRIFT is live!!! π₯.
The DRIFT airdrop claim is now live!. Claim your DRIFT here: More information below (π§΅)
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A year ago, we did $8m daily volume. Today we did ~$800m daily volume . Next 100x takes us to $80b. @DriftProtocol
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Breakpoint was absolutely electric this year . Mega bullish on all the energy and talent in Solana . Higher π.
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DRIFT x BREAKPOINT 2024. This year's Breakpoint and TOKEN2049 week was the best I've been to yet, and the biggest we've ever gone at a conference . Our goal was to spend quality time in person with our users, traders, partners, and the wider DRIFT community - sharing with
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Launching Drift Earn βοΈπ°. This week, we launched a new product: Drift Earn. Why? DeFi needs a real savings product built for people who've never touched DeFi. We're building DeFi to onboard your mom, dad, grandma and your normie friends. Current borrow/lend product UX is
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Why we're launching a US election predictions market on Drift:. - Prediction markets are the truth settlement marketplace.- We can become the place where people go to observe crowd tendencies and opinion shifts.- We're on a fully open-source blockchain that no one can manipulate.
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The problem with marketing purely via KOLs is that it's pay to play and shortcuts the need for proof of support/loyalty/conviction over time . The strongest marketing is recurring user and fanbase driven.
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Drift will launch official prediction markets very soon. To get you ready for them, we have a very fun pre-launch today, no other than. ~political memecoins~. Election center on Drift is NOW LIVE. Trade $TREMP $KAMA all in one place
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DRIFT provides for $MOTHER fans and traders . @IGGYAZALEA π«Άπ»β€οΈβπ₯.
The Mothership has arrived on Drift! πβ¨. $MOTHER is now LIVE for both Perps and Spot market!
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Very grateful for those that have stuck in Driftβs corner this week . Those who know us know that weβve always stuck to first principles building the most open and transparent DeFi platform on Solana. Atm weβre working overtime to ship TWO major upgrades that we will be.
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this week has been one of the best weeks of growth we've ever had @DriftProtocol . DAUs hit 6k (!) .TVL over $60m .OI over $26m . comfy & up only
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We built a DEX that does it all (on gated mainnet atm):.- 10x leverage perps .- Borrow/lend + spot margin trading.- Cross-collateral + x-margined w/ isolated subaccs.- Robust risk engine. DM me for early access if you're a FTX/CEX refugee wanting to migrate to a new exchange π.
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In NYC for the @multicoincap summit today. Drift may be dropping some alpha on roadmap and our big vision π @davijlu . Hmu if youβre around π«ΆπΌ
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if youβre in your 20s there are few better things to do than to start projects w/ friends you love working w/ + on stuff you care abt. itβs the fastest way to .1) humble urself over & over again, .2) gain skills & perspectives about the world, .3) maximize short feedback loops.
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This week is Drift's highest volume week post-airdrop, *without* points and a live rewards program . Projects can fail post-airdrop when there's no more upwards momentum, but a deep and continued focus on product and real users will always pay off
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How it started: Drift as a perp dex. How it's going: Drift as perps, spot, borrow/lend, swaps, with a prediction market coming for the most historical US election season yet.
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in the last 6 months, we @DriftProtocol:.- built a based af team,.- raised $3.8M seed,.- shipped fully on-chain perpetuals devnet,.- open-sourced code,.- shipped mainnet, .- in first 6 weeks of launch, hit .πΎ $650M in volume, .πΎ 6k+ traders, .πΎ 6 perp markets. infinite up only.
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Don't let mfs tell you you got lucky with SOL ATHs today. Drift launched in the deep bear in 2022 and grinded for ~1 year during the most difficult era in Solana before this massive year of growth . Conviction is the hardest currency
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The Blinks launch is pretty mindblowing . You can now trade and interact w/ any app on @Solana anywhere on the web without clicking out to an external site . Soon, you will be able to long/short on Drift directly on X. Super creative launch by @saydialect @aliquotchris!.
Introducing Actions & Blinks. An ambitious new protocol in collaboration with @solanaβ& developer stack by Dialectβto share Solana everywhere. Starting right here. On Crypto Twitter. Try it out today with @Backpack & @phantom. @solflare_wallet coming soon. 1/π
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Spent the last few days of 2024 in nature hiking with loved ones to reflect on our best year yet ποΈ. Recharging batteries for a bigger and even crazier next year . Excited for all of our health, wealth and crypto to fly in 2025 . Happy NYE all! π
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big day: drift is live on mainnet for all! β¨. catch you driftiiiiing and slinging perps w/ us @ @DriftProtocol
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We started the year with less than $1m in daily volume, <100 daily users and $1m in TVL. We're ending the year with $4B traded, 10k daily users and $120M in TVL. Patience and extreme focus pay off when you play the long game. To another 100x year for all of us! π.
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how about not categorizing women based on their looks vs their intellect as if theyβre mutually exclusive.
how about a DAO for women coders instead of Instagram models.
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Introducing dSOL (driftSOL) . Since Day 1, Drift has committed to scaling with Solana. dSOL has been under wraps for a long time, but today we're excited to finally unveil dSOL, what it means for us in the Solana ecosystem . We launched dSOL as an LST token that stakes SOL to a.
Liquid stake your SOL to Drift to earn some of the highest yields on Solana!. dSOL yield hit 8.54% last epoch and. it just got HIGHER!. Your yield compounds with 5X FUEL when you deposit dSOL onto Drift. ICYMI the FUEL program has been funded by 8.2M DRIFT π. Your deposited
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This has been Drift's best month yet, and I'm grateful for our strong supportive community . - $1B+ in deposits (!!!).- $320m+ in trading open interest, up over 3x since the start of Q4.- $42m+ in annualized revenue. Far exceeded our goals in Q4. So much higher from here.
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update, huge milestones:. > one billion united states dollars in all time volume hit π°. > our first $100m+ day π°. blitzscaling & not resting here . if youβre a trader/quant who cares abt decentralization & wants to trade perps on a fast af DEX hmu
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What an incredible week. Undeniable catalysts ahead of us:. - Clear skies ahead for DeFi on Solana. - Post-election regulatory clarity is going to take us to the next level. - Volatility ripping = higher volumes and trader interest . LFDrift π«Ά.
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The $YFI market manipulation on @dYdX has proven how critical it is to isolate risk for altcoin markets from majors, especially those w/ thin liquidity. @DriftProtocol currently solves this by having: . 1) A P&L settlement layer - In order to be withdrawn, all positive P&L must.
Here are the main points we know about the $YFI incident on dYdX so far:. Reminder no user funds have been lost, but it is critical we understand what happened and adjust accordingly. - in the part few days $YFI open interest on dYdX spiked from $0.8m -> $67m.- basically all of.
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I ran 80,000 simulations and Solana DeFi won in every one of them.
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What if I told you that @DriftProtocol is simply built different?. Over the last week, thereβs been some public discussion/confusion around vAMMs which I wanted to address in this thread . π§΅ππ½
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May 16. T-3 DAYS. LFG.
DRIFT Launch Airdrop claims will go live on May 16 at 12pm UTC (8 AM EST). This marks a significant step towards decentralizing @DriftProtocol, acknowledging loyal users, and empowering the community with a greater voice in the protocol's future development. More details π
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Bought the bottom, Dubai is looking great today. See you all at @TOKEN2049 tomorrow . Up only
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Jeeters will jeet. Drifters continue to drift up. Founders continue to create product market fit
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This week has been one of the best-performing weeks for Drift ever . - Annualized protocol revenues from this week at ~$30mm . - Open interest shot up to ~$180mm . - TVL now >$550mm . - Super smooth prediction market resolutions . Up only and up a lot.
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Solana DeFi is slowly penetrating the mainstream institutional audience. Drift was recently featured in Bloomberg @crypto for major traction this year as a direct & transparent alternative to CEXes with assets secured now at ~$385m. Hard to get more bullish than this
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One week after launching Drift Earn, we've already hit ATH deposits of $475m. We also hit ATH borrows of $90m. HIGHER.
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girls just wanna have custody over their own assets while taking levered futures positions.
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Perp DEXes should live on integrated L1s, not isolated app-chains. Marginal performance tradeoffs are not worth taking away the security guarantees and shared native asset availability of an L1. Fight me on this.
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Sharing some thoughts from our JLP integration with @JupiterExchange this week:. This is the first time ever that a high-yield LP asset has been enabled as collateral on a perp exchange. $JLP now listed on @DriftProtocol as collateral is a part of our big vision to be the.
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Congratulations to Magic Eden for successfully launching $ME on the most volatile day!. Mad respect to @ZhuoxunYin @0xLeoInRio @hausoftiffany have watched you all grind it out, always making bold product experiment bet across cycles. $ME is live on Drift now, Day 1 as always π«Ά.
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DM me if you're coming to Breakpoint / TOKEN2049 . We're hosting a private VIP lunch called Drift Diner on the 20th for our top traders and community . w/ the best partners @phantom @PythNetwork @Backpack @jito_sol @MagicEden @DeGodsNFT . Lambos may be included with your ticket
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We just hit $20B total volume . Not sleeping until we're doing $20B daily
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Every Breakpoint has been transformative for @DriftProtocol . We launched our v1 in the first Breakpoint '21 as $SOL topped $250. We launched our v2 in Breakpoint '22 while FTX collapsed. Today, we're at 95% market share of perps on Solana . >1.5B traded, $40m ATH daily volume.
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Yesterday was the highest liquidation volume day *ever* for Drift . Drift's liquidation engine gracefully handled $35m in liqs w/ <$1k in bankruptcies . Captured $1m in revenue while preventing aggressive leverage flush. The most resilient systems are constantly tested over time
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The founding father of perps is now a Drifter . And youβre not max long Drift yet? . LFG @CryptoHayes.
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