{"document_id":"BLC-STUDY-0687","slug":"drift-protocol","title":"Drift: a Solana perpetual exchange with a liquidity pool","authors":"Drift Labs","year":2021,"date_label":"2021","publisher":"Drift Labs","paper_type":"Design paper","category":"Markets","topics":["Markets"],"source_url":"https://github.com/velocity-exchange/protocol-v2","source_label":"Drift Protocol v2 repository","legacy_pdf_path":null,"sha256":null,"sha256_note":"No hash is published. This build does not store those PDF bytes, so a checksum would be invented. Where a legacy path exists, it points at the Internet Archive copy of the old library.","version":"Source cited by the 2021 study. The study is the reading. This page does not add a second essay.","doi":null,"rights_status":"Official external source only","source_status":"Official source","use_status":"Metadata and commentary only. The reading is the study page.","licence":null,"licence_label":"No licence recorded. Rights status under review.","full_text":null,"full_text_reason":"Full text is not published on this page. Public availability is not a licence to republish a document. Blockchain Lab has not recorded a licence that permits an HTML transcription, a training set, or a retrieval corpus of the paper. Text on this page is Blockchain Lab's own wording, or a pointer to a study that is also Blockchain Lab's wording.","repository":"https://github.com/velocity-exchange/protocol-v2","editorial_line":"Drift publishes perpetuals on Solana, with liquidity from a pool and from limit orders, and with funding payments between longs and shorts.","canonical_url":"https://blockchainlab.com/whitepaper/drift-protocol","record_url":"https://blockchainlab.com/research/corpus/papers/drift-protocol","study_url":"https://blockchainlab.com/whitepaper/drift-protocol","last_reviewed":"2026-10-01","last_checked":"2026-10-01","relationships":[{"rel":"Canonical reading","label":"Drift protocol study","href":"/whitepaper/drift-protocol"},{"rel":"Related paper","label":"GMX","href":"/whitepaper/gmx-v2"},{"rel":"Related paper","label":"dYdX v4","href":"/whitepaper/dydx-v4-chain"},{"rel":"Related paper","label":"Pyth Network","href":"/whitepaper/pyth-network"}]}