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Drift Enables Cross-Chain Swaps in Partnership with Mayan Finance

By: illustrious
June 8, 2023 11:03 AM EDT
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In a significant development, Drift has announced its integration with Mayan Finance and Wormhole, providing traders with the ability to perform cross-chain swaps and bridging directly from the exchange. To add excitement, Mayan Finance will waive all relayer fees for the first two weeks!

Direct Bridge to Solana on Drift

With the recent integration of Mayan Finance, Drift is offering traders a novel and efficient way to perform cross-chain swaps. Users can now transfer their assets from networks such as Ethereum, BSC, Polygon, Avalanche, and Arbitrum directly onto Drift and convert them into native USDC or SOL on Solana. Furthermore, Wormhole bridge users will receive wrapped assets, which they can swap for USDC on Solana after the bridging process is completed.

Fee-Free Cross-Chain Swaps

To mark the beginning of this new venture, all Mayan cross-chain swaps will be exempt from relayer fees for the first two weeks following the launch. This exclusive offer will run until June 21st, encouraging users to leverage the benefits of cross-chain transactions.

The Power of Cross-Chain Swaps & Bridging with Mayan

Mayan Finance, a cross-chain auction protocol, empowers users to swap from any network into native assets with just a single click. What makes it stand out is the promise of the best rates across Solana. Moreover, its non-custodial nature ensures your transactions are secure, eliminating the possibility of third-party interference during the bridging process.

Cross-Chain Bridging with Wormhole

The recent addition of Wormhole Connect to Drift's integrated solutions paves the way for seamless wrapped bridges directly from the exchange. More details on the Wormhole Connect integration can be found on Drift's website.

Performing Your First Cross-Chain Swap on Drift

Cross-chain swapping on Drift is a breeze with their straightforward step-by-step guide. A key feature is that all cross-chain swaps on Drift include an automatic gas drop off (0.05 SOL) for new Solana wallets, though this can be adjusted in the settings.

After logging into the platform, users can navigate to the Deposit/Withdraw modal found at the top-right corner of their screen. From there, users can select "Swap or bridge to deposit funds from another chain" to open up the interface for their first swap. Users will need to have SOL in their wallets for transaction fees and collateral in their Drift account for trades.

For Mayan Swaps, users can directly swap from EVM chains like Ethereum, BSC, and Arbitrum into native USDC or SOL on Solana. Connecting their wallet, selecting the desired chain and asset, and choosing the destination wallet is all it takes to authorize the cross-chain swap.

For Wormhole Bridge, users can bridge USDC from Ethereum to Solana. The bridged USDCet will need to be swapped for native USDC. After the assets have been bridged, users can swap with Jupiter for native USDC and deposit it onto Drift as collateral.

To get started with this efficient, cost-effective method of swapping and bridging, visit Drift. This integration marks a significant stride in Drift's mission to make the trading process more seamless and accessible to everyone.

Always experimenting.

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