2025 is the breakout year for perp DEXs. We’ve seen this before: 2020: The rise of Borrow/Lend 2021: The AMM moment Each cycle brought copycats. Few survived. Aave won the Borrow/Lend category. Uniswap won the AMM category. Both winners combined performance with on-chain guarantees. Perp DEXs are on the rise because the infra is catching up. We’ve been building a perp DEX since 2021. In the past 3 months, Drift’s market share grew by 5x. Today, we announced Drift v3 — a performance upgrade that is built to outperform: - 10x improvements in speed, liquidity and UX - New liquidity source: DLP (Drift Liquidity Provider) - New Orderbook: Improved trade reliability - Scales with Solana (Alpenglow, Jito BAM) - 100% revenue flows back to the community through buybacks While remaining capital efficient with multi-asset collateral (you can use 40+ tokens to trade on Drift) Drift v3 flywheel: Outperformance → more trading → more revenue → more buybacks → community wins. This is the...
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