Swift Protocol Launches to Enhance DeFi Trading Execution Speed
The Drift platform has launched the Swift Protocol to enhance the DeFi trading experience on Solana. Key features include:
- Consolidation of on-chain trades into a single execution layer, improving speed and liquidity.
- Market makers compete to fill orders quickly, reducing slippage.
- Gas fees are eliminated for traders, with no additional costs for market makers.
- Introduction of a Dutch auction system to minimize MEV extraction risks.
- No staking-based order prioritization at launch, ensuring fair execution across all traders.
The Swift Protocol is currently live for perpetuals trading, with spot markets expected soon.