What is Drift?

Drift is a decentralized derivatives exchange built on the Solana blockchain that enables on-chain perpetual futures, spot, and margin trading with deep liquidity and low latency. It combines an automated market maker (AMM) with an on-chain order book to deliver efficient price discovery and execution while maintaining user self-custody. The protocol's hybrid liquidity model and just-in-time (JIT) auction mechanism enhance capital efficiency and reduce slippage during volatile market conditions. Drift also supports advanced trading features such as cross-margining, liquid staking integrations, and liquidity vaults for passive market-making strategies.

What is DRIFT?

The native token of the protocol is DRIFT, which functions as both a governance and utility asset within the ecosystem, supporting protocol voting, staking, and fee incentives. Holders can stake DRIFT to participate in governance, earn rewards from protocol activity, and access trading or liquidity benefits tied to network engagement. The token has a total supply of 1 billion DRIFT, with approximately 387.75 million currently in circulation at the time of this publication.

Risk Statement

Before trading any crypto assets it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset. 

No securities regulatory authority or regulator in Canada has evaluated or endorsed the Crypto Contracts or any of the crypto assets made available through the platform. 

Wealthsimple has performed an assessment of whether DRIFT can be supported by Wealthsimple's platform, including whether DRIFT is a security and/or a derivative and is being offered in compliance with securities and derivatives laws.

We evaluated DRIFT based on publicly available information, including (but not limited to):

• The creation, governance, usage and design of DRIFT, including the source code, security and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that first created DRIFT;
• The supply, demand, maturity, utility and liquidity of DRIFT;
• Material technical risks associated with DRIFT, including any code defects, security breaches and other threats concerning DRIFT and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them;
• Legal and regulatory risks associated with DRIFT, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of DRIFT; and
• Statements made by regulators or securities regulatory authorities in Canada and other jurisdiction regarding whether DRIFT, or generally about whether the type of crypto asset, is a security and/or a derivative.

Wealthsimple monitors ongoing developments related to crypto assets available on its platform for significant changes that may affect Wealthsimple's original assessment of those assets, including Wealthsimple's assessment of the application of securities and derivatives laws. Any significant changes relating to DRIFT may result in changes to this Crypto Asset Statement and/or Wealthsimple's ability to support DRIFT.

Like all other crypto assets, there are some general risks to investing in DRIFT. These include short history risk, volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk, electronic trading risk and cyber security risk. Please review the Wealthsimple Crypto Product Risk Disclosure for additional discussion of general risks associated with the crypto assets made available through the platform.

We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading DRIFT. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.

Wealthsimple is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Wealthsimple Investments Inc. dated December 18, 2023 (the Decision). 

The statutory rights of action for damages and rescission in section 130.1 of the Securities Act (Ontario), and, if applicable, similar statutory rights under securities legislation of other jurisdictions of Canada, do not apply in respect of this Crypto Asset Statement to the extent a Crypto Contract is distributed under the prospectus relief in the Decision.

Last updated: November 17, 2025