flipside

    Try Quests to earn SOLTry Quests to earn SOL
    Share

    Drift - Guide to Trader Point System

    The dashboard that explains how the point system, initiated by Drift Protocol in January '22 and set to last for a maximum of three months, operates. It includes detailed metrics for the two most common methods of earning points: Perpetual trades and DLPs, plus a bonus section of Lend Statistics. For data accuracy, you can review the research in the methodology section.

    What is Drift Protocol?
    db_img

    Screenshot taken at 19:11 UTC, Feb 20

    • For those who haven't heard yet, Drift Protocol is a DEX derivative protocol built on Solana, offering a multitude of investment opportunities.

    • It provides investors with the ability to leverage up to 20x for their investments. These investments include perpetual trades, spot trades, and swap transactions.

    • Additionally, there's the opportunity to earn returns through lending and LP contributions to various pools and the protocol itself.

    • Like every protocol, there are opportunities for profit as well as risks involved.

    • Starting from January '22, Drift Protocol has launched a point system that rewards users proportionally to the frequency and size of their transactions.

    • There is still time to participate in this program, which currently has about 53K participants(Feb 20).

    • The following section will explain the details of the point system and usage of Drift.

    How Can I Get Points?

    Screenshot resource: Tweet Link

    db_img

    • The Drift Trader Points program, set to last for a maximum of 3 months, has been active since January 22, 2024. By clicking on the link, you can see your current status, ranking, and multiply your points by trading in markets shown as Boosters.

    • Drift offers you three main options to earn points: trading in perpetual or spot transactions, making DLP investments, and providing liquidity via the orderbook. The dashboard aims to provide information about trends in perpetual trades and DLP.

    • Additionally, for users interested in leveraging their investments in the lending protocol, you can view the current trends.

    • Read more about Drift Trader Points: https://www.drift.trade/updates/update-drift-trader-points