Drift, the largest derivatives platform on Solana, introduces the Swift Protocol to address inefficiencies in DeFi trading. Traders face challenges like delays, slippage, and gas fees, while market makers struggle with scattered liquidity and slow execution. Swift consolidates trades across various sources into a single execution layer, broadcasting orders to competing market makers for faster and better fills. By using a WebSocket-based system, it streamlines market maker integration and reduces gas costs through Just-In-Time (JIT) market making. Notably, Swift Protocol mitigates Maximal Extractable Value (MEV) risks by utilizing a Dutch auction system, ensuring that market makers cannot exploit traders through quick profit extraction. Although there are discussions about staking-based order prioritization, it will not be implemented at launch to prevent advantages for wealthier participants. This protocol aims to revolutionize high-performance trading in DeFi by collapsing execution times, eliminating gas fees for traders, and minimizing MEV. Currently, Swift Protocol is live for perpetual trading, with spot markets expected to follow.

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