Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.57% | 6.23% | 6.12% | 34.41% | 6.90% | 29.91% |
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Data source: CoinGecko
Open Markets
| # | Exchange | Pair | Price | +2% depth | -2% depth | Volume (24h) | volume % |
|---|---|---|---|---|---|---|---|
| 1 | HHTXCEX | DRIFT/USDT | $0.148 | $695 | $637 | $4,192,585 | 143.02% |
| 2 | UUpbitCEX | DRIFT/KRW | $0.1498 | $25,132 | $32,527 | $844,112 | 28.80% |
| 3 | BBybitCEX | DRIFT/USDT | $0.1479 | $90,252 | $163,753 | $841,346 | 28.70% |
| 4 | DRIFT/USD | $0.147 | $115,224 | $120,371 | $230,594 | 7.87% | |
| 5 | BBingXCEX | DRIFT/USDT | $0.1479 | $20,300 | $14,784 | $163,304 | 5.57% |
| 6 | BBithumbCEX | DRIFT/KRW | $0.1486 | $5,274 | $4,013 | $96,773 | 3.30% |
| 7 | BBitgetCEX | DRIFT/USDT | $0.148 | $47,884 | $49,773 | $68,215 | 2.33% |
| 8 | PPhemexCEX | DRIFT/USDT | $0.1481 | $5,974 | $3,056 | $16,658 | 0.57% |
| 9 | GGeminiCEX | DRIFT/USD | $0.1495 | $763 | $792 | $6,345 | 0.22% |
| 10 | DRIFT/USD | $0.1474 | $37,417 | $61,676 | $6,235 | 0.21% |
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About Velocity
Velocity is a perpetual futures exchange on Solana, formerly Drift, aimed at active traders who want leveraged positions with self-custodied margin and no identity verification. It runs an onchain central limit order book with a cross-margin account, where wBTC, wETH, SOL and USDT all serve as collateral in one account, positions settle in USDT, matching combines maker quotes with taker orders inside the program, and funding rates adjust periodically to market skew, and an insurance fund plus auto-deleveraging absorb shortfall in priority order, with margin requirements adjusted to market risk.
After the rebuild its scope narrowed to perpetuals: only BTC, ETH, SOL and HYPE markets remain, maximum leverage is 20 times, the spot order book is gone and spot assets serve only as collateral and lending inventory. Governance splits admin rights across four multisig tiers, cold, warm, hot and pause, with timelocks so privileged instructions wait out a delay, and code plus audit reports are published. After admin keys were social-engineered on 1 April 2026 and about 295 million dollars was stolen, the exchange reopened under its current name on 21 September.
Key milestones in Velocity (formerly Drift Protocol) history: April 1, 2026: suffered a $280M exploit attributed to North Korea's Lazarus Group, forcing platform shutdown and a 50% TVL drop. April 16: Tether committed $127.5M credit line, with USDT replacing USDC as core stablecoin. May 5: controversial recovery token mechanism launched, redeemable only after pool hits $5M. June 4: relaunch plan announced, appointing Noah Prince as protocol lead, with Mandiant confirming UNC6862 attribution. July 1: rebranded to Velocity DEX, signaling a full architectural rebuild and private beta. Upbit delisted DRIFT trading pairs, reflecting lost trust. These events define the platform's crisis, rescue, and rebirth trajectory.
Hack and relaunch: A social-engineering attack on the Security Council on April 1 drained about $295 million. The protocol rebranded to Velocity DEX on July 1 and ran a private beta, then opened a public beta on September 21 after an OtterSec audit, listing only BTC, ETH, SOL and HYPE perpetuals with maximum leverage cut from 101x to 20x and the taker fee raised to 0.06%.
Recovery and setbacks: DFX recovery claims opened on October 1 at one token per dollar lost, but the pool held just $3.11 million, so early redemptions paid about $0.0104, under 1% of losses; Tether's commitment of up to $127.5 million had not been deposited. Three Korean exchanges delisted DRIFT on June 1, and co-founder Cindy Leow stepped down on September 29.
On 1 April 2026 Drift suffered a social-engineering and governance attack in which roughly 285 million dollars was stolen, with attackers gaining admin control, draining vaults and bridging funds out. Tether then provided about 300 million dollars in credit to support a relaunch, on the condition that the platform use USDT as its primary settlement asset instead of USDC.
On 1 July 2026 Drift rebranded as Velocity, announcing a rebuilt Solana perpetuals platform with a new architecture, stronger security foundation and clearer product scope, opening a private beta to selected partners and traders. The team said relaunch revenue will go first to user recoveries and repaying Tether, noting the recovery pool is nearly empty and payouts depend on the platform earning fees.
Future strategy and roadmap: Velocity plans a phased reopening after the beta validates matching performance and stability, rebuilding market making and liquidity incentives, and redesigning liquidation, risk and governance permissions to close the multisig and governance gaps that enabled the exploit.
Cindy Leow — Co-founder and former CEO; previously an Investment Manager at 256 Capital Partners; stepped down from day-to-day leadership in September 2026.
David Lu — Co-founder; previously co-founded Textbook Ventures and now leads asset-recovery and law-enforcement coordination.
Chris Heaney — Technical co-founder and former Head of Engineering; helped build the exchange stack.
Z (pseudonym) — Technical co-founder; helped build the exchange stack.
Noah Prince — Head of Protocol; formerly Head of Protocol Engineering at Helium, leading the rebuild of Velocity’s smart contracts.
Defioppa — Product Lead; previously led product at Binance.
Tracy — Partnerships and stakeholder-relations lead.
Naman — Growth Lead; previously worked at Binance and Trust Wallet.
Velocity perpetual takers pay 4 bps at the base tier, 3 bps above $5M and 2 bps above $80M in trailing 30-day volume; makers earn 0.25 bps per fill; individual markets may add up to 10 bps on top.