In this article, we’ll share a guide on how to track the growth of Drift. Below are 8 effective methods and our top metrics to monitor on the various dashboards, allowing you to stay updated on our progress toward building the top on-chain decentralized exchange.
Drift’s Dune Analytics Dashboard
BigZ designed the Drift Dune Analytics dashboard as a comprehensive resource for monitoring key performance indicators, such as the number of new and returning users, active user counts, and transaction totals. Among the many useful charts and metrics available, we particularly enjoy the "new driftv2oors" chart, which clearly displays new users in orange bars and the total number of Drift v2 users in a purple line above.
One of the standout features of the Dune Analytics dashboard is the detailed view of daily transaction activity on Drift. This metric not only includes trades but also encompasses a wide range of other actions such as borrowing and staking, providing a comprehensive overview of all on-platform activity.
The next dashboard we will discuss is designed to give us real-time insights into Drift’s data, providing a powerful way to monitor and track key metrics as they happen in real-time.
Drift Protocol’s Grafana Dashboard
The Grafana dashboard is a powerful visualization tool that allows you to easily view and interpret data from all of our current markets on Drift, as well as other important protocol-level metrics. This is the ideal location to gain a comprehensive understanding of market performance and protocol health.
It provides real-time data on key metrics such as rolling 24-hour volume, vAMM holdings, and more. Additionally, this dashboard allows you to drill down and view market-specific data, including open interest, user counts, long/short ratios, and bid-ask liquidity, all in one place, making it easy to gain a comprehensive understanding of the overall market conditions on Drift.
The Grafana dashboard is designed to provide maximum flexibility and customization, allowing you to personalize the time frame or ranges to suit your needs. This feature enables you to analyze past data on Drift, including times of high volatility and long/short spreads. This data can be used to inform and backtest various trading strategies, providing valuable insights and helping you to make more informed decisions.
Drift Protocol StreamLit Data
This website offers a wealth of information about the users on Drift, including the ability to track the activity of the largest traders on the platform. The site provides detailed data on each user, including information such as their last trade date, trading volume over the last 30 days, and more. This information can be extremely valuable for anyone looking to gain insights into the activity of the largest traders on Drift and make more informed decisions.
This website offers an unparalleled level of detail and insights into the activity on Drift, tracking information on user health, market makers, Drift's Decentralized Limit Order Book (DLOB), and much more. Whether you're an individual trader or a market analyst, this website provides the best option for tracking user activity and gaining valuable insights into the Drift trading ecosystem.
Flipside Crypto Activity Tracker
Flipside Crypto's dashboard is a powerful tool for tracking the activity on Drift in real time. It offers a variety of unique dashboards not found on other platforms and provides a wealth of information for traders and investors. To get the most out of this tool, it's important to sign up for an account on Flipside Crypto. Without an account, the data will not be updated in real time.
One of the standout features on the dashboard is the Weekly Heatmap chart. This chart displays the busiest times for traders on Drift, giving you a clear picture of when the platform is most active. This information is useful for traders who want to make the most of their time on Drift. By knowing when the platform is busiest, traders can optimize their strategies and make informed decisions about when to buy and sell.
Another one of the many useful features on this website is the USDC per Wallet Distribution dashboard. This dashboard provides an in-depth view of the distribution of USDC across different wallets. This information can give valuable insights into the current state of deposits on Drift.
Inverse Board Dashboard
The Inverse Board Dashboard is a tool for monitoring the activity and well-being of users on Drift. What sets this dashboard apart is its ability to provide a detailed view of the account health for the 10 accounts with the lowest account health.
This information is valuable for traders and investors as it allows them to keep an eye on the potential of large liquidations on the exchange. This means that if a large account is at risk of being liquidated on-chain, users can quickly identify it and take action to mitigate potential losses or capitalize on opportunities for profit.
Another noteworthy metric on this website is the real-time long and short-open interest. This metric displays the total number of open long and short positions on the platform, providing insights into the current market sentiment and positioning of traders on Drift.
Top Ledger Dashboard
The Top Ledger Dashboard is the most comprehensive dashboard to monitor Drift's growth with metrics that are not available on any other dashboards! These metrics include, but are not limited to, cumulative perp volume, cumulative spot volume, and cumulative maker/taker fees for both the spot and futures markets on Drift!
If you are interested in following in-depth and cumulative metrics, the Top Ledger dashboard is our recommendation to stay up to date with Drift's growth!
Vybe Insight's Dashboard
Vybe Insight's dashboard provide traders with real-time information & data where users can evaluate market sentiment & momentum on Drift! They offer trading data, user insights (including top traders), funding rates, liquidations, and even arbitrage opportunities!
Vybe insight's dashboard offers traders with unique insights into trading on Drift and is another great place to stay up to date with everything Drift!
Another area where users can gain insightful information on Drift Protocol is the exchange itself (https://app.drift.trade). Here you can see the amount deposited, funding rates in real-time, and can be a great tool to monitor Drift’s performance.
For example, under the markets table, traders can see the total 24-hour trading volume and total open interest on Drift at any point in time. Also, in the "Earn" portion of the exchange, you can see the global USDC and SOL deposits.
For those interested in staying informed about the progress and developments of Drift Protocol, we recommend following us on Twitter. Our dedicated team is committed to providing timely updates, announcements, and milestones to our followers. By following us on Twitter, you'll have access to the latest and most accurate information about Drift Protocol's growth.