About Drake Exchange
Introduction
Drake Exchange is a cutting-edge, decentralized perpetual trading platform operating on Base. Engineered from the ground up, Drake delivers a fully transparent, 100% onchain trading experience, ensuring every trade is secure, verifiable, and secure.
Drake merges traditional centralized exchanges' intuitive, high-performance qualities with the benefits of decentralized exchanges. Whether you’re an experienced trader or new to the space, Drake is designed to provide a seamless, trustworthy, and future-forward trading environment.
Base Onchain Summer Buildathon 2024 Winner
We are incredibly proud to announce that Drake has been awarded 1st place in the Trading Track of Base's Onchain Summer Buildathon. During the competition, Drake developed the tokenized funding rate vault, enabling users to deposit USDC and earn yield from funding rates while maintaining a delta-neutral position. Additionally, we hosted a paper trading competition integrated with Farcaster, allowing participants to easily flex their PNL on Farcaster. This achievement reflects Drake’s ongoing commitment to developing innovative, user-centric solutions for perpetual trading.
For more details, please refer to the official Mirror article published by Base here: Announcing the Onchain Summer Buildathon Winners
Features
Up to 50x Leveraged Trading
Self Custody
Cross Margin Trading Account
Isolated Margin Trading Account
Gas-free trading
Funding Rate Earn Vault
Peer-to-Pool Liquidity Model
To learn more about Drake’s features, visit the Features page.
Competitive Advantage
Chainlink Low Latency Oracle
Rigorous Risk Management
Easy Onboarding
Efficient Liquidity Utilization
100% Onchain Transparency
To learn more about Drake’s competitive advantage, visit the Competitive Advantage Page
How does trading on Drake work?
Peer To Pool Liquidity Vault
All trading pairs utilize the dUSDC vault as the counterparty. The dUSDC vault receives the collateral when traders take a loss and pays out the profit on the closed trades with positive PnL
Drake ensures the existence of liquidity that is genuine, immune to malicious manipulation, and transparent, especially when compared to centralized and off-chain order book models.
Open interest and trading volume can scale more effectively than traditional order book models
The dUSDC vault generates significantly higher yields compared to models that rely on multiple liquidity pools for different trading pairs.
50x Leverage Trading
All trades on Drake are denominated and settled in USDC, no matter which asset you're trading.
Traders can deposit multiple types of assets to be used as collateral, including USDC, ETH, and BTC.
Drake offers both cross margin and isolated margin accounts, enabling traders far greater flexibility and control over their trading.
Collateral can be swapped while traders have open positions, allowing for advanced hedging strategies that are not possible on other platforms.
Mission - Why was Drake built?
The team behind Drake brings a wealth of experience from running a successful hedge fund that excelled in arbitrage strategies on centralized exchanges. Recognizing the potential of decentralized finance, the team sought to expand into decentralized exchanges but found the existing perp DEX landscape lacking in comparison to the experience offered by centralized platforms.
To bridge this gap, Drake was born—designed to deliver a fully onchain experience that meets and exceeds the standards of centralized trading. As Drake continues to evolve, we’re committed to introducing new features that empower both seasoned traders and newcomers alike. Whether you're looking to refine your trading strategies or earn yield through innovative approaches, Drake aims to equip you with the tools to succeed.
Links
Website: https://drake.exchange/
Dapp: https://drake.exchange/trade
Twitter/X: https://x.com/DrakeExchange
Discord: https://discord.com/invite/ZtKakXFu7m
Farcaster: https://warpcast.com/drake-exchange
Github: https://github.com/drxprotocol
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