Solana
Crypto Exchange Coinbase Adds Solana-Based DEX to Listing Roadmap
Coinbase added a new Solana (GROUND) based decentralized exchange (DEX) altcoin to its listing roadmap.
On Tuesday, the leading US crypto exchange listed Drift Protocol (DRIFT) On the road towards being tradable on its platform in the future.
Drift is an open source DEX that allows transparent, non-custodial trading.
Explain the project,
“Drift was designed with the goal of saving capital while protecting your assets. We achieved this by implementing a sophisticated cross-margin risk management engine – a system of tools providing extensive protection against excessive risk. For example:
- In lending/borrowing markets, you can also use collateral for perpetual futures contracts and trade more efficiently with spot assets.
- Each token you deposit can earn you more through borrowing and also serve as collateral for perpetual swaps.
- Borrowers can only borrow if they have more than necessary collateral, following several security measures for additional protection.
The Drift Foundation plans to airdrop 12% of the DRIFT supply (120 million tokens) on Thursday. The asset is not yet trading at the time of writing.
Explains the foundation,
“This marks an important step toward decentralizing the Drift Protocol, recognizing loyal users, and giving the community a greater voice in the future development of the protocol.”
Coinbase created its 2022 listing roadmap to increase transparency and reduce the possibility of investors being ahead of new trading support announcements.
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