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The Solana ecosystem DeFi protocol, Drift Protocol, plans to launch a "pre-release market" for new tokens
2024/03/15 04:04
The
Solana-based perpetual
futures trading platform, Drift Protocol, plans to expand into the "pre-IPO
market", offering a service that allows traders to bet on token prices before they officially start trading. The first token to be launched will be W from Wormhole's upcoming release.
According to a blog post, Drift is setting up liquidation barriers which will prevent price spirals. It will also require traders to repay any debts accumulated in other trading products, some of which allow risky leveraged positions.
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