Upbit, recognized as a leading global digital asset exchange, has officially announced the listing of Drift Protocol (DRIFT) tokens with multiple trading pairs including KRW, BTC, and USDT.
The token has demonstrated exceptional market performance, recording a striking 97.53% price increase within 24 hours of the announcement, reaching $0.954.
The weekly performance has been even more impressive, showing a 109.26% surge over the past seven days.
With a circulating supply of 250 Million DRIFT tokens, the protocol has achieved a substantial market capitalization of $226,660,756, supported by a robust 24-hour trading volume of $90,544,337.
Trading Implementation and Restrictions
The implementation of DRIFT trading on Upbit comes with carefully structured guidelines and temporary restrictions to ensure market stability.
Trading support is scheduled to commence at 18:00 on November 8, with deposits and withdrawals being processed within three hours of the initial notice.
The exchange has implemented several temporary trading restrictions, including a 5-minute buy order restriction after trading begins, a minimum selling price limit set at -10% of the previous day’s closing price for the first 5 minutes.
The previous day’s closing prices were established at 688.98 KRW, 0.00000656 BTC, and 0.499 USDT, with recent prices showing positive momentum at 730.67 KRW, 0.00000692 BTC, and 0.5279 USDT as of 14:30 on November 8.
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Technical Infrastructure and Security Measures
Upbit has implemented strict deposit and withdrawal protocols for the DRIFT token, exclusively supporting transactions through the Solana network.
To maintain compliance with the Travel Rule, deposits are only accepted from approved virtual asset operators, and all transactions require completion of ownership verification through personal wallet addresses.
The exchange maintains the right to request explanations for large deposits with unclear sources, as per Article 17, Paragraph 8 of their Terms of Use.
These measures demonstrate Upbit’s commitment to maintaining a secure and compliant trading environment while supporting the new token listing.
About Drift Protocol
Drift Protocol represents an innovative advancement in the DeFi space, operating as a perpetual futures trading platform on the Solana network.
The protocol distinguishes itself by combining DeFi’s inherent transparency with solutions to blockchain’s traditional speed limitations.
Its key technical innovation is the Just-in-Time (JIT) mechanism, which facilitates rapid transaction conclusions through sub-5-second auctions.
This is complemented by the Backdrop AMM system, ensuring continuous transaction processing even when auction participation is low.
The DRIFT token serves as the protocol’s governance token, enabling holders to participate in protocol improvement decisions through staking and voting mechanisms, highlighting the project’s commitment to decentralized governance.
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