Drake is joining Wave 1 of Monad Momentum. Perpetuals without compromise, trade on Drake. Stack rewards and Drake points. Climb the leaderboard now and secure your post in our upcoming private trading contest. Join now: drake.exchange

Monad Mainnet will launch on November 24th, 9am ET Waiting room 👇 x.com/i/broadcasts/1OyKAjABX…

Drake Testnet is live. We believe perp trading deserves the best execution speed, at the best and most accurate price. Just place your order and let Drake’s CLOB do the job. Trade perps on Monad here: drake.exchange/trade Stack bids slap asks.

Drake is launching tomorrow. Okay, folks, today is the last day before Drake launches on public testnet. Tomorrow is going to be biblical, but we have one last small mission for you to heat it up. Drop “Perp traders are locked in” in the comments for a chance to access the first trading contest on Drake. Ignite the engines, we switch on the CLOB.

Huge thanks to the Monad Foundation — especially @keoneHD — for the swift support that helped us regain access to our X account. Big shoutout to @acceleratooooor as well for the thorough security analysis and internal review. We’re also deeply grateful to the Monad community — everyone was incredibly helpful in reporting malicious content and spreading the word. Drake stays strong with the support of the community. Community truly matters. 🙏 Gmonad 💜 Gdrake !

Drake’s public testnet is just around the corner. Place your bet on Opinion Lab and guess whether Drake public testnet will be released before or after July 15th. Bet now on app.olab.xyz/detail?topicId=…

Another edition of Meet the Builder returns. This edition goes deep into one of the most interesting perpetual dex design emerging inside the @monad_xyz ecosystem. This time, I had the chance to connect with @DrakeBrief, co-founder of @DrakeExchange, a perp Dex natively built on Monad, which uses CLOBs and vAMMs to bring the best of both worlds for leverage traders. If you are not yet familiar with Drake, I have written a detailed breakdown here: x.com/0x_yash21/status/18679… Now let us get into the conversation with @DrakeBrief and unpack how Drake is aiming to push leverage trading forward on Monad 👇 Can you tell us a bit about yourself and your role in building Drake Exchange? Hi, I’m @DrakeBrief - Co-founder and Chief Product Officer at Drake. I’m a Software Engineer with over five years of experience at Google, where I focused on AI systems. While AI and trading may seem like separate worlds, my work at Google focused on structured, machine learning–based systems (not LLM) that relied on rapid, data-driven decision-making, signal analysis and risk evaluation to serve the right content to users, very similar to the strategies and models used in HFT and market making. As much as I enjoyed my time at Google, building trading strategies and risk systems has always been my true calling. What inspired the creation of Drake, and why did you choose to build a perpetuals DEX on @monad_xyz? After leaving Google, I led a proprietary trading team focused on high-frequency crypto arbitrage. Our strategies primarily targeted price spread arbitrage and funding rate arbitrage across centralized exchanges (CEXs). As DEX trading began to gain traction, we looked to migrate these strategies onchain, but quickly realized that existing perpetual DEXs were still lacking in performance and design. That gap ultimately inspired us to build Drake. Initially, we struggled to find a chain that could support a fully onchain exchange with CEX-level performance. Monad changed that. Its architecture offered exactly what we needed. We’ve been consistently impressed by Monad’s performance. In fact, we ran the largest CLOB performance test on its devnet, submitting over 10 million orders into our order book. Even at that scale, the onchain execution and matching engine performed exceptionally well, giving us the confidence to build something truly Monad native, high-performance, and fully onchain. What was the reasoning behind using both a vAMM and a limit order book (LOB), and why vAMM instead of AMM? How does Drake differentiate itself from existing players like @dYdX and @HyperliquidX, so that it can attract users in the presence of giant like Hyperliquid especially? How does the Monad blockchain help the team provide a good UX to users, and what future updates to the Monad blockchain is the team expecting/hoping for that could further help the team improve Drake's UX? How is team planning to attract liquidity to both the LOB and the liquidity vault early on? What are the key technical challenges you have faced while building, and how did you overcome them? Risk management is one of the most technically demanding aspects of building a fully transparent, onchain perpetual DEX. Supporting isolated and cross-margin modes alongside multi-collateral functionality adds significant system complexity. To address this, we built a robust simulation framework to model extreme market conditions, stress-test edge cases, and validate our liquidation logic. Alongside this, we developed an operational playbook to guide real-time risk management and trading behavior, ensuring system resilience during volatility. What is Drake's go-to-market strategy to attract both traders and liquidity providers? Drake’s go-to-market strategy focuses on activating each core user group, including traders, market makers, and LPs, through tailored incentives and product features that drive engagement naturally. Traders benefit from a fast, CEX-like experience, deep liquidity, and competitive rewards tied to volume and performance. Market makers are equipped with professional-grade tools, such as advanced order types, and receive incentives, based on their performance, that reward consistent liquidity provision. LPs earn a share of protocol fees and boosted rewards through passive vault participation, without the need for active management. A robust social layer, including referral rewards, trader leaderboards, and shareable performance metrics, creates positive loops that reward users for bringing others to Drake. Altogether, this design generates an organic flow of fees throughout the protocol, reinforcing sustainable economics from the start. Why build on a decentralized chain like Monad and not on a centralized L2? Building on Monad provides access to a vibrant ecosystem and engaged community, along with the ability to mint assets natively. This eliminates the risks associated with bridging and centralization. It also enables seamless integration with other Monad-native protocols and simplifies user acquisition, especially when compared to launching on an isolated or fragmented chain. When is the public launch, and what new features can we expect in the next update of Drake? Drake will be live on day one of Monad’s Mainnet launch, fully equipped with the core features traders need right out of the gate. While we have some exciting long-term updates planned, including entirely new types of trading, our immediate focus is on shipping the features and tools the community wants most. Drake wouldn’t exist without our amazing community. That’s why we’re committed to giving you everything you need to level up your trading, yield farming, or social experience on Drake and Monad. Some upcoming features will even let you earn from Drake without ever placing a trade. We're also expanding our lineup of strategy vaults, including more automated strategies like the funding rate vault, and potentially higher-risk vaults powered by AI agents. We’ve got a ton of UI and UX improvements and new features coming soon, but we don’t want to spoil the surprise… Follow us on Twitter and join our Discord to stay in the loop! If you had to leave readers with one key piece of alpha, something you have learned about life, building apps, or crypto in general, what would it be? Stay obsessed with the fundamentals. Whether in life, crypto, or building products, hype comes and goes, but the teams that stay focused on solving real problems, building resilient systems, and listening to users are the ones that endure. In crypto, especially, noise is constant, but long-term value is built quietly and consistently. ******************************************************************* For more updates on Drake Exchange, Follow @DrakeExchange and also @DrakeBrief (he recently created his new Twitter account, go show him some love). Up next in the Meet the Builder series, I will be sharing my conversation with a team member from another groundbreaking project building on Monad. Dropping next week. Follow me for daily updates and insights into the Monad ecosystem.

Gmonad and Gdrake, it’s time I introduce myself to you. It took me a while to get here. I spent years building as an engineer in big tech before getting hooked on the markets. What started as a side interest in trading quickly turned into a full-time focus. I’m here now to build and to share the journey. I cut my teeth in high-frequency and arbitrage trading. Pure obsession, fast markets, always searching for an edge. I loved it. But the more I traded, the more friction I felt. Centralized exchanges are broken. Fragmented. Opaque. Too centralized. So I decided to do something about it. I’m now building a perps DEX on Monad - @DrakeExchange. No big VC backing. No hype machine. Just code, conviction, and a better design. A design for traders, market makers, liquidity providers, and most importantly, you, the community. I started this project self-funded because I believe in what I’m building. Drake is built with the user's best interest in mind. This space needs smarter, faster, trustless infrastructure. That’s where we are starting with Drake. I’m not a loud voice on Twitter. I’m more comfortable writing code and trading than posting threads. I’m here now because I want to share more as I build. I move quietly and ship fast. I might be shy, but I’m not soft. I’ll be sharing insights from my trading days, thoughts on market structure, and progress updates on Drake. If you’re into perps, coding, security, or just want to follow a founder who’s building in public, you’re in the right place. Let’s build something better. Let’s fix what’s broken. If you’re a trader, builder, or just love crypto, my DMs are open. More soon. Now you know about me, would be glad to hear a bit of you, in a few lines.