bloXroute Labs Announces Strategic Partnership with Drift Protocol to amplify Perpetual Trading on Solana
EVANSTON, IL, USA, April 17, 2023/EINPresswire.com/ — bloXroute Labs, a leading provider of blockchain distribution network (BDN) services, is excited to announce a strategic partnership with Drift Protocol, the top decentralized perpetual futures exchange built on Solana. This collaboration will integrate Drift’s exchange into bloXroute’s recently released Solana Trader API, allowing DeFi algo-traders to trade on Solana in a CEX-like API environment without the need to run their own nodes.
The Solana Trader API simplifies trading on Solana by providing low-latency connectivity to the Solana network, eliminating the costly and complex process of running a Solana node for trading. bloXroute’s collaboration with Drift Protocol and other projects in the Solana ecosystem covers data streams such as token prices, latest swaps, and orders. This partnership aims to further expand the functionality of the Solana Trader API.
bloXroute’s clients will benefit from this integration by gaining access to the ~95% of retail volume on Drift’s exchange, enabling them to selectively fill and provide liquidity to more than 350 daily active traders and over 2,800 traders in total. The Solana Trader API is accessible via Go SDK, Python SDK, TypeScript SDK, or HTTP API & Stream (WebSocket and gRPC) data feeds. For more information, visit the bloXroute Solana Trader API Documentation.
Core Contributor at Drift Protocol, Cindy Leow, commented on the partnership: “Following FTX and the other unfortunate events of 2022, we’ve seen a strong surge in demand for safe, secure, and fast avenues to trade on-chain. This increase in retail demand has led to an abundance of opportunities for institutional traders to step in and provide liquidity at desired levels. Through this partnership, the barrier to entry for institutional traders to start deploying liquidity on-chain has been reduced ten-fold.”
About Drift Protocol:
Drift Protocol is the leading decentralized perpetual futures exchange built on Solana, powered by a novel AMM and orderbook hybrid liquidity model. Since its launch in December 2022, Drift Protocol has transacted over $450 million in volume and is the decentralized exchange of choice for more than 2,800 traders.
Learn more about Drift Protocol on Twitter @DriftProtocol. Visit app.drift.trade to trade perpetual futures, spot markets, borrow, lend, and earn yield.
About bloXroute Labs:
bloXroute Labs is a pioneer in blockchain distribution services, offering scalable and efficient solutions to all sectors of the blockchain industry. Using bloXroute’s BDN, customers gain a competitive edge by receiving critical information about pending transactions and new blocks at ultra-low latency and can send transactions at nearly light speed. As more users, traders, mining pools, validators, and DeFi projects connect to the BDN, bloXroute’s network effect amplifies its technological superiority, enhancing its speed and value. The current DeFi transaction volume through the bloXroute network is over $1.5 billion per day.
For more information about bloXroute Labs and its offerings, visit www.bloxroute.com.
For media queries, please contact:
Drift Protocol
Damian Chen
damian@drift.trade
bloXroute
curtis.mak@bloxroute.com
peter.kubantsev@bloxroute.com
Peter Kubantsev
bloXroute
+1 773-580-7008
email us here
