Drift Rebrands as Solana Perpetual Futures Platform Velocity
JH Kim
Summary
- Drift said it will rebrand as Velocity, a Solana-based perpetual futures platform, after a roughly $295 million hack.
- The company said the rebranding is part of a push to build a next-generation trading platform architecture.
- Drift said it plans to open a beta version to select partners and traders within days.
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Drift, which was hit by a roughly $295 million hack in April, is rebranding as Velocity, a Solana-based perpetual futures platform.
Drift said July 1 that the rebranding is part of a push to build the architecture for a next-generation trading platform.
The company said execution speed and directional calls are critical in the perpetual futures market. The name Velocity is meant to reflect trading speed and market momentum.
Drift plans to roll out a beta version to select partners and traders within days.
JH Kim
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