Performances
RD Popularity Index
RD Growth Index
Revenue & Burn
Protocol income
$47.56Buyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Nov 2026 | $47.56 | -- | -- | -- |
| Oct 2026 | $15.4K | -- | -- | -- |
| Sep 2026 | $20.77K | -- | -- | -- |
| Aug 2026 | $663.81 | -- | -- | -- |
| Jul 2026 | $122.35 | -- | -- | -- |
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About Drake
Drake is a fully on-chain perpetual futures exchange on Monad mainnet, with AUSD as the sole margin and settlement asset. Matching is hybrid: each market runs an on-chain central limit order book with strict price-time priority, indexed by a red-black trie for predictable read costs, while depth the book cannot supply is taken by the DLP vault quoting the oracle price plus or minus a spread. Vault shares, dAUSD, follow ERC-4626 and carry no bonding curve, so liquidity providers take no impermanent loss.
On risk, Pyth prices are verified inside the same transaction as the trade, isolated and cross-margin portfolios are accounted separately, open interest caps equal six times the vault balance scaled by a per-market ratio, and long-short imbalance may not exceed 20% of a market's cap. A private beta ran in July 2026 and public mainnet opened on 7 September 2026 with five markets — BTC, ETH, SOL, MON and HYPE — leverage up to 20x on BTC and a 0.05% taker fee. By DeFiLlama's count, cumulative perpetual volume is about $87 million and value locked about $190,000.
Drake opened a private mainnet beta to whitelisted wallets in July 2026 and opened the public mainnet on 7 September 2026, alongside a four-week MON incentive campaign worth $100,000. At launch it offered USDC-margined perpetuals on BTC, ETH, SOL and MON with up to 50x leverage, pairing a central limit order book with a vault (dAUSD) that quotes both sides; vault quotes thin above 80% utilisation and pause at 95%. A points programme launched in September, with private-beta activity tracked retroactively and boosted.
Drake's stated plan is to extend listings to gold, silver, crude oil, natural gas, US equities and indices, all priced by Pyth and settled in AUSD on Monad, while growing the vault and market depth, adding cross-margin and AUSD yield features, and disclosing token and airdrop details when ready; no token distribution has been confirmed.
Dr. Brief — Co-founder; the team comes from high-frequency trading, market making and arbitrage, and he leads Drake's on-chain order book and vault market-making architecture on Monad.
Drake charges a taker fee of 0.05% of notional and a maker fee of 0.01% of notional on filled resting orders.
Drake charges a fixed spread of 0.005% to 0.025% plus a dynamic spread on the vault-filled portion of market orders, with the dynamic component capped at 0.04% to 0.40%.
Drake charges a borrowing fee on open positions of 1% to 25% APR for BTC and ETH and 10% to 50% APR for SOL, MON and HYPE, with funding capped at plus or minus 150% APR for BTC and ETH and plus or minus 300% APR for other assets.