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BTC $60,556.96 +2.14%
ETH $1,553.81 +0.38%
BNB $573.66 +1.43%
XRP $1.08 -0.79%
SOL $61.68 -2.10%
TRX $0.3221 +0.64%
DOGE $0.0806 +0.86%
ADA $0.1569 -0.56%
BCH $213.45 -0.61%
LINK $7.31 +1.38%
HYPE $56.78 -0.42%
AAVE $60.40 -0.67%
SUI $0.7063 +2.85%
XLM $0.2078 +8.76%
ZEC $356.94 +11.88%

solan

Drift announced the restart of its Perp DEX for the Solana ecosystem, with revenue used to establish a user compensation fund

Drift Protocol stated that its current top priority is to restart the platform and restore revenue-generating capabilities to expedite the recovery process of user funds. After the platform restarts, it will become the largest USDT-based perpetual contract trading platform on Solana, and the related revenue will be used to support a specially established user compensation fund.Drift claims that substantial progress has been made in the restart efforts with strategic support from Tether and other partners. To enhance security, Drift announced the appointment of Noah Prince, the former head of engineering at Helium Protocol, as the protocol lead, responsible for protocol restructuring and security system upgrades.Meanwhile, former members of the Gauntlet team have also joined the restart efforts, providing risk management and treasury design support for the platform, including clearing engine reviews, funding rate optimization, market parameter adjustments, and ongoing risk monitoring. Additionally, Drift has hired the cybersecurity company Mandiant to conduct an independent forensic investigation of the attack incident.The investigation results indicate that this attack can be clearly attributed to the North Korean hacker group UNC6862, which is associated with multiple cyber attack operations. Drift stated that it will continue to prioritize security in advancing the platform restart and will announce the user compensation mechanism and specific timeline in the future.

Solana officially stated that it will vigorously promote the construction of fully on-chain perpetual contracts, aiming to become the world's strongest on-chain financial derivatives infrastructure

Solana's official announcement "Building Fully On-Chain Perpetual Contracts on Solana" aims to vigorously promote the ecological construction of fully on-chain perpetual contracts (Perps) in the future, with the goal of making Solana the world's strongest on-chain financial derivatives infrastructure. Currently, the trading volume of crypto derivatives is mainly concentrated on centralized trading platforms or hybrid models that rely on off-chain matching engines, which Solana believes is a transitional phase. It hopes to make a truly fully on-chain derivatives market a reality through the characteristics of high-performance blockchain—where all processes such as order submission, price updates, matching, and clearing are completed on-chain, while maintaining institutional-level speed and low costs.The Solana Foundation will provide funding, technical support, and resource allocation, focusing on supporting projects that meet the following criteria: fully on-chain execution, price discovery based on real bilateral liquidity (rather than purely pool pricing), Solana priority with revenue flowing back on-chain, teams with derivatives experience, and core code being open source. It also welcomes the co-construction of surrounding infrastructure such as front ends, aggregators, vaults, and market-making tools.
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