Drift Rebrands as Solana Perpetual Futures Platform Velocity After $295 Million Hack
Summary
- Drift said it will rebrand as Velocity, a Solana-based perpetual futures platform, after a $295 million hack.
- The company said the rebrand is part of an effort to build a next-generation trading platform architecture.
- Drift said it plans to open a beta version of Velocity to select partners and traders within days.
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Drift, which suffered a roughly $295 million hack in April, is rebranding as Velocity, a Solana-based perpetual futures platform.
On July 1, the company said the rebrand is part of an effort to build a next-generation trading platform architecture.
Drift said execution speed and directional calls are critical in the perpetual futures market. It added that the name Velocity is meant to represent trading speed and market momentum.
The company plans to open a beta version to select partners and traders within days.
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