VelocityDEX Launches Private Beta with Reduced Fees and Innovative Features

The Solana-based trading platform VelocityDEX has launched its private beta with reduced fees and innovative features. The platform, formerly known as Drift Protocol, offers perpetuals with a low transaction fee of 0.02%, significantly lower than other major exchanges like Hyperliquid and dYdX.

In addition to the competitive fees, VelocityDEX also provides a 20% referral reward for users who bring in new customers. This feature is expected to attract high-frequency traders, market makers, and retail investors seeking better trading experiences with minimal friction.

The platform's multi-collateral margin system allows SOL and USDT holders to earn yield while using these assets as collateral for their positions. This innovation solves the long-standing issue of capital efficiency on Solana-based DEXs.