Upbit, one of the most trusted global digital asset exchanges, announced that Drift (DRIFT), a governance token on the Solana blockchain, will be listed for the first time in its Innovation Zone on November 8.
Upbit Announces Listing of Drift (DRIFT) on KRW, BTC and USDT Markets
Drift (DRIFT) will be available for trading on the KRW, BTC, and USDT markets, with deposits opening three hours before the listing at 18:00 UT.
Drift, a decentralized exchange, differentiates itself from centralized financial services by offering perpetual futures trading, enhanced transparency, and permissionless DeFi features.
Notably, Drift uses a Just-In-Time (JIT) auction mechanism that completes transactions within five seconds, promoting a seamless on-chain trading experience.
If no bids are placed during an auction, Drift’s backend AMM adds flexibility to the trading process by ensuring seamless trade settlement.
To ensure fair market conditions, Upbit implements temporary trading restrictions:
- Buying Restrictions: Buying orders will be limited for the first five minutes after listing.
- Sell Price Restrictions: For five minutes after listing, sell orders placed below 10% of the previous day's closing price will be restricted.
- Order Type Restrictions: Only limit orders will be accepted within the first hour after listing.
While the current prices are 730.67 KRW, 0.00000692 BTC, and 0.5279 USDT, DRIFT traders are advised to verify network compatibility before depositing funds to avoid delays.
To comply with South Korea's Travel Rule, funds deposited from non-participating exchanges will need to be verified from a verified personal wallet.
*This is not investment advice.