Cloud price

So the SEC has no more comments on the SOL staking ETF and two multi billion dollar TVL Solana staking protocols are trading below $100M mcap? People will look back and realize how obvious $MNDE and $CLOUD were

@NateGeraci Update: here’s the SEC saying it has no further comments, so they are good to launch it looks like. Wow.

Drift's immediate plan is to be the best decentralised derivatives platform. Built on @solana at the L1 level to harness the global atomic state machine. No rollups or isolated environments. The benefit is asset availability. Drift is the only cross-margin perps DEX and this is only possible because of the L1. Products built on the L1 are directly downstream of asset issuance. You can expect an L1 like Solana to dominate in this area in the coming years. To date, Drift has $1 billion in TVL across multiple types of collateral over SOL, BTC, ETH and a myriad of Solana tokens that can be natively supported (JITO, JUP, KMNO, DRIFT, CLOUD, etc). With the rollup debate and CLOB discussions taking place, we've conveniently forgotten composability. My belief is that in the long term, composability is king. CLOB Debate CLOBs are a means to an end; whilst there is a lot of merit to the discussion taking place, I would argue that HL's success is due to their liquidity model, rather than the choice of a CLOB. There's been a long history of dead CLOBs and I will happily bet against any newcomer that don't have clear or existing GTM. Most build some great piping that never get used. So unless your environment is exceptional, it is very difficult to convince users to bridge assets into an isolated environment. TLDR: Takers like CLOBs since it gives them the last look at the price. Makers hate on-chain CLOBs as they are ripe for the picking. Drift's Design Drift is fully on-chain today. No off-chain matching engine or any part of the stack off-chain. Hence, a slightly different design under the hood with a distributed limit orderbook (DLOB) alongside just-in-time liquidity (JIT). When you build on share blockspace on the L1, extractive activities can take place. Drift cannot re-order, prioritise or slow-down specific transactions that take place on Solana. Trust me, we'd love to give makers priority cancels where we can - but we can't. This is why JIT was introduced. Unlike CLOBs, JIT allows the maker to have the last look at the price (just-in-time) before electing to fill them. It is a novel mechanism designed to protect makers. The disadvantage with this model is the inability to show resting liquidity - since there is no "resting" inventory. We have done our best to work with makers to provide indicative liquidity quotes but I understand that it isn't the same as seeing thick quotes on the orderbook. We are working on some big updates that will be release in a few weeks to continue improving resting liquidity. The Current Narrative We're cooking with @solana & @jito_sol to deliver something exceptional on the L1. Stay tuned for some big updates. The experience on Drift should have improved significantly today so if you haven't tried Drift for a while, give it a shot and let me know how it feels. If you experience remotely unacceptable slippage, DM me and I'll personally compensate you for it. h/t @SebMontgomery for asking the question in the first place!