Welcome
Drake Brings the Best of Centralized Exchanges Onchain.
Introduction
Drake is a fully on-chain decentralized perpetual exchange that provides the seamless experience of a centralized exchange, offering advanced trading features and efficient execution—Putting the CEX in perp DEX.
Founded by a team with over 10 years of expertise in high-frequency trading, market making, and arbitrage, Drake bridges the gap between CEX and DeFi with a unique model that utilizes a full limit order book paired with a pricing, matching, and order routing engine that operates fully onchain. Drake also utilizes backstop AMM liquidity, which paired with the order book, provides much deeper liquidity and better price execution while enabling much faster listing of new markets without needing to onboard market makers.
Drake’s automated vaults empower users, regardless of experience, to benefit from advanced trading strategies. The flagship Funding Rate Vault allows users to earn delta-neutral yield through automated arbitrage, showcasing Drake’s cutting-edge features like cross-margin collateral and collateral swaps. With a talented team, including former Google engineers and key DeFi contributors, Drake aims to become Monad’s native perpetual DEX and set new standards for decentralized trading.
Monad Madness NYC 2024 Finalist
Drake was recognized at Monad Madness NYC 2024 as a Finalist. As the only Perp DEX on Monad to be selected, Drake was celebrated for its innovative features, unique design, and user-friendliness. Drake is honored to be recognized in such a prestigious fashion and looks forward to bringing its vision to market and establishing itself as the native Perp DEX on Monad.
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: Open large positions with up to 50x leverage on ETH and BTC with minimal slippage and low fees.
Funding Rate Earn Vault: Earn delta-neutral yield on USDC deposits, offering consistent returns without active management.
Cross Margin Trading Account: Manage multiple positions with a pooled collateral balance to reduce liquidation risk and enhance portfolio flexibility.
Isolated Margin Trading Account: Control risk by isolating margin for individual trades, ensuring one loss doesn't affect your entire balance.
Self-Custody: You maintain full control of your assets, secured in smart contracts linked to your wallet.
Gas-free trading: Trade without gas fees, ensuring every dollar used goes directly into your positions.
Competitive Advantage
Chainlink Low Latency Oracle: By leveraging Chainlink's low-latency oracles, trades are executed using real-time, accurate price feeds
Rigorous Risk Management: Advanced risk management protects your positions and minimizes exposure to market volatility, allowing for confident trading even in unpredictable conditions.
Easy Onboarding: A streamlined onboarding process, featuring an intuitive interface and social login support, enables users to start trading quickly and easily, regardless of experience level.
Efficient Liquidity Utilization: Optimized liquidity ensures tight spreads, minimal slippage, and support for large trades, while providing consistently competitive pricing across the platform.
100% Onchain Transparency: Operating entirely onchain guarantees full transparency, with all trades and actions verifiable onchain, fostering a fair and open trading environment.
To learn more about how trading works on Drake, visit the overview page.
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.
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