Drift Trade: Beginner Tutorial

[@jumokeonikoyi3169]

Thanks But can you also talk about liquidity providing on drift?

[@SebMontgomery]

Hey there, i have a video where i talk about this, here's the link: kzbin.info/www/bejne/r4e1iYGDbLZ2racsi=Ncyt7jPNoeDIumsy

[@YTprofile-l5v]

I know you made a video on Kamino and lending, can you do a little more detailed version. Sometimes rewards are claimable (currently SOL-BONK pair), but then other times (SOL-SAMO pair), the rewards get auto compounded? Where does the fee go?, does it also get auto compounded, a break down of how much you invested vs how much was withdrawn with the breakdown would help a lot! The PnL gets more confusing as well.

[@SebMontgomery]

I'm not sure if the rewards auto compound. Current rewards for $SOL and $USDC lending are in $BONK. If I lend $200 worth of $SOL, I'll only borrow an asset worth 1/4th of what I lent.

[@exorc1st995]

Nice video's fam, Great work. Solana community appreciates you

[@SebMontgomery]

Thanks a lot! Bullish on $SOL!

[@crypto0046]

Is Drift Bet same as Drift Protocol exchange

[@begcoins]

The B.protocol backstop is a game changer

[@macanoon]

Should’ve left that long open 😂 great vid ❤

[@SebMontgomery]

I don’t even remember what the long was, but yeah, should’ve left it open.

[@pichupich3941]

Great tutorial. Thanks, Seb.

[@SebMontgomery]

You're welcome! Thank you for watching, if you have questions, don't hesitate to ask.

[@SBta-yb3wm]

🎉😂 was looking forward this to appear

[@SebMontgomery]

Hehe enjoy!

[@BitcoinRainee]

why can't i take more then 8 trades on a single drift profile ? how can we remove this capping .

[@SebMontgomery]

I really have no idea, I suggest you open a ticket with them

[@rstallings69]

sounds like trades settle in usdc even if say doing a solana perp, that sounds inconvenient!

[@SebMontgomery]

All perps settle in USDC or USDT, so it's normal.

[@dfhhh5f1]

Why when I try to short it only lets me short 1.37x

[@SebMontgomery]

I’m not even sure what you’re shorting here. It could be a lack of liquidity, incorrect settings, or insufficient collateral, I’m not sure.

[@raptorgreen2380]

Is FUEL not their token ( yet to have utility)

[@SebMontgomery]

FUEL is their point system, their token is DRIFT

[@shaf331]

So are you automatically added to the drift draw every week if you have tickets?

[@SebMontgomery]

Yes that's right

[@ogonnaizuchi]

God bless you for this video

[@SebMontgomery]

Thanks! Good luck!

[@Gwonah]

please if i claim my pnl profit will my trade close

[@SebMontgomery]

In order to claim your PNL as profit, you generally need to close your trade, which will affect your trading portfolio and the calculation of future profits or losses.

[@raddstefford7161]

thank you very good video simply explained keep on

[@SebMontgomery]

Thank you for your compliment!

[@fs6752]

Hi, would like to ask where can I buy DRIFT Tokens directly. Cant seem to find any listing of it.

[@SebMontgomery]

Drift Protocol has not yet announced their launch of $Drift. If you find any other token with the ticker $Drift, it's definitely a scam token.

[@fs6752]

@@SebMontgomery ahhhh Thank you!!!

[@rcl9635]

Drift hasn't released a token yet, but I hear they are likely to do so in Q1 2024 (and will likely do an airdrop too, probably for users of their dapp).

[@291yutobe]

if im trading from the US i cant connect wallet or use drift? is this correct

[@SebMontgomery]

Yes, you are not allowed to use Drift in the U.S.

[@ThtcGames]

how about in the UK

[@richfrancis2214]

Hey Seb I have no positions open yet under balance it says I have a borrow open in USDC, why is this when I have no positions open, any idea? I know you're not tecnical support but I'd appreciate a clue as I'm confused.

[@SebMontgomery]

This is strange! I think it's best you ask the Drift team by joining their discord.Thx.

[@josecuellar2944]

hey Seb, drift wont let me withdraw my Msol even though I had a account balance of 4Msol, I had burrow but already deposited back to pay.

[@josecuellar2944]

please help! any ideas?

[@SebMontgomery]

Hello! Open a ticket with support ASAP

[@josecuellar2944]

thank you! will do right now@@SebMontgomery

[@gleh.]

and how to use 10k lev ?

[@SebMontgomery]

I dont understand the question. Fully ask it pls

[@gleh.]

@@SebMontgomery mohon maaf , akan saya gunakan bahasa saya. kemarin saya lihat iklan bahwa exchange ini bisa memberikan lev 10000x ? apakah benar seperti itu ?

[@josephuchennaugwu3796]

How to withdraw

[@SebMontgomery]

To withdraw on Drift Protocol, connect your wallet, go to the "Portfolio" section, select the asset, enter the withdrawal amount, confirm the transaction, and approve it in your wallet.

[@josephuchennaugwu3796]

@@SebMontgomery hello. Please what do I need to earn the reclaimable rent?

[@SebMontgomery]

You need to be providing liquidty and trading on the platform

[@DinarCrypto789]

Thanks 👍👍

[@SebMontgomery]

Welcome 👍

[@ygumit]

If I just swap, can I get points?

[@SebMontgomery]

The Drift Protocol does not have a point system yet.

[@realmadridvideos]

say i just hold Sol in my wallet. Can I trade BTC perp ?

[@SebMontgomery]

Yes, you can! 🙂

[@triplemoney]

great thanks

[@SebMontgomery]

Thx for watching 🙂

[@KrustyKrack69]

Oh they have a token alright

[@SebMontgomery]

Yeah, the drift token is doing well.