Crypto markets suffered a $20B drawdown yesterday after Trump's surprise tariff announcement, which spiralled into one of the most severe 1-day drawdowns in all of crypto's history Many have asked how @DriftProtocol's risk engines performed, and I want to highlight how Drift has always puts users first and handles risk and liquidations differently from other exchanges: 1. Drift does not have an ADL (auto-deleveraging system) - it has a risk waterfalling system to socialize losses among everyone remaining in positions pro rata by size. Yesterday, the vAMM reserves and insurance fund successfully covered all user losses, so no positions were deleveraged 2. Drift also has one of the largest Insurance Fund to Open Interest ratios across all Perp DEXes with $50m to support $500m+ in open interest, giving a huge buffer for the protocol to support bad debt 3. Even though we are a cross-collateralised exchange, our risk engine managed to do $76m in liquidations with no user losses 4. Solana and Drift experienced zero downtime, with Solana crushing it with record TPS yesterday of 3200+. 5. Drift's fee pools covered all losses, and there was no bad debt incurred for users. It’s been a challenging day for the industry, but moments like this underscore the importance of robust design for exchanges that always puts users first Up

Name & Symbol: Drift ($DRIFT)
Address: DriFtupJYLTosbwoN8koMbEYSx54aFAVLddWsbksjwg7

"I'm $USELESS" @theunipcs finally pilled me https://t.co/nXhweLvtja

Name & Symbol: USELESS COIN ($USELESS)
Address: 0xba38b3c706f7a515ff7c8db04daa0a134ec46d2b

Introducing Drift Builder Codes (DBC): A New Era for DeFi Composability Drift Builder Codes (DBC) introduce a new way for developers to build on top of Drift while earning fees for routing trades. Drift is the first Solana perpetual DEX to enable per-order monetization for third-party applications such as frontends and aggregators through DBC. DBC introduces a new incentive system that lets builders connect to Drift’s liquidity and execution engine permissionlessly. This allows teams to start earning revenue instantly, while reimagining how Solana projects use composability to build new products DBC enables builders to: - Earn fees on every routed order - Permissionless build: With no required central approval - Plug & play: integrate without building a backend infrastructure or sourcing liquidity DBC aligns incentives across the protocol, builders, traders, and liquidity providers. How it works: 1. Register & create a RevenueShareAccount 2. Users approve your app and the associated fee 3. Every order includes your Builder ID and fee details 4. Rewards automatically settle to your Revenue Share Account when users settle P&L Unlocking new DeFi primitives: Builder Codes reward innovation from builders while driving liquidity growth across the protocol. This empowers developers to create custom trading UIs, trading bots, aggregators, automation tools, and more. Note: Builder Codes are currently in private beta. For more support, contact @wdotsol or @airtightfish on Telegram.

Name & Symbol: Drift ($DRIFT)
Address: DriFtupJYLTosbwoN8koMbEYSx54aFAVLddWsbksjwg7

Still crying in the casino? Really makes you think with ATHs imminent... https://t.co/p9WMSY3y1W

Name & Symbol: Aethir Token ($ATH)
Address: 0xbe0ed4138121ecfc5c0e56b40517da27e6c5226b

Drift is locked in on shipping a CEX-like UX Two big changes that get us closer to this goal: 1) Custom market leverage 2) Isolated positions Custom market Leverage: Users familiar with CEX trading experience are used to setting their leverage at the market/position leverage This leads to a more intuitive trade form and better ROI tracking We're about 90% of the way complete with adding Custom Market Leverage Should be shipped to prod in 1-2 weeks Isolated Positions: Drift currently supports cross-margin trading which, while offering superior capital efficiency, can lead to more complicated risk management Isolated positions enable users to allocate a subset of their collateral to a specific position, providing another tool to manage risk for traders Isolated positions require a big change to the Drift risk engine, so it is taking a bit longer to get it reviewed and tested Isolated positions will ship some time in October After shipping these two features, users will get a more familiar CEX-like UX Teaser in the screenshot below 👀 If you have questions/feedback, feel free to dm me, @0xMinhdonz or @Defioppa

Name & Symbol: Drift ($DRIFT)
Address: DriFtupJYLTosbwoN8koMbEYSx54aFAVLddWsbksjwg7

Introducing Project 0, the first DeFi-Native Prime Broker Through P0, you can borrow against your entire DeFi portfolio, regardless of the individual venues you use. Kamino, Drift, Hyperliquid… DeFi just changed. Here's how ↓ https://t.co/Gk308vDNaE

Name & Symbol: Drift ($DRIFT)
Address: DriFtupJYLTosbwoN8koMbEYSx54aFAVLddWsbksjwg7

Introducing Project 0, the first DeFi-Native Prime Broker Through P0, you can borrow against your entire DeFi portfolio, regardless of the individual venues you use. Kamino, Drift, Hyperliquid… DeFi just changed. Here's how ↓ https://t.co/Gk308vDNaE

Name & Symbol: Kamino ($KMNO)
Address: KMNo3nJsBXfcpJTVhZcXLW7RmTwTt4GVFE7suUBo9sS

@bonk_fun is net positive for Solana and the culture. It is here to reward token creators and the Solana community. Virality is key and there is nothing more bullish and viral that @joemccann comments on the market: CJiae15vktwxeiJEZ2k54C31XLumZPGwEckrxXgybonk https://t.co/l2jLV4Bckf

Name & Symbol: Joe McCann ($JOE)
Address: CJiae15vktwxeiJEZ2k54C31XLumZPGwEckrxXgybonk