Velocity Private Beta Runs Continuously With Audits And Security Enhancements Underway

Velocity's private beta is active with ongoing audits. The team collaborates with market makers and traders to optimize liquidity and experience ahead of the DFX public release.

Woofun AI reports that Velocity, the decentralized perpetual trading platform formerly known as Drift Protocol, has its private test version running continuously while audits and security enhancements proceed. The team is collaborating with market makers, professional trading firms, and retail traders to evaluate the product, refine the trading experience, and prepare liquidity for the upcoming launch.

The public release and distribution of the DFX token will occur only after all security and risk-related tasks are finalized. This follows a significant hack against Drift Protocol on April 1, which led to the establishment of a compensation mechanism for affected users. DFX serves as a recovery token issued to impacted wallets, with 1 DFX equivalent to one dollar in verified losses.