Drift JIT Auctions product
Overview
Drift JIT (Just-in-Time) Auctions are a feature of the Drift Protocol, a decentralized exchange on Solana. They enable market makers to submit liquidity quotes at the moment a trade is executed, competing to fill the order and potentially improving price and reducing slippage for traders. This mechanism combines an on-chain order book with an AMM to provide efficient execution.
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Frequently asked questions
What are Drift JIT Auctions?
Drift JIT (Just-in-Time) Auctions are a feature of the Drift Protocol, a decentralized exchange on Solana, that allows market makers to submit liquidity quotes at the moment a trade is executed, competing to fill the order.
How do Drift JIT Auctions benefit traders?
They can potentially improve price and reduce slippage for traders by enabling market makers to compete to fill orders at execution time.
What mechanism does Drift JIT Auctions use?
The mechanism combines an on-chain order book with an AMM to provide efficient execution.