Velocity DEX is Drift Protocol under a new name, relaunching after the $285M April 2026 hack with a $127.5M Tether credit line. Its post-fork code is still awaiting a published audit report. BULK Exchange has been live on mainnet since September 5, 2026, with a completed Zellic audit. Here is the honest comparison.
Mango Markets was Solana's first serious perpetuals exchange. In October 2022, an attacker manipulated MNGO oracle prices to drain $117M from the treasury. A subsequent SEC settlement led to a community vote to wind down. The protocol shut down completely. Here is what happened and why it matters.
On April 1, 2026, Drift Protocol lost $285M in one of the most sophisticated DeFi exploits on record. It has since rebranded to Velocity DEX, backed by a $127.5M Tether credit line, and remains in beta months later. Here is exactly what happened, how it worked, and where things stand now.
BULK's Genesis Phase waives maker fees entirely for the first 30 days of mainnet. Every day you trade after this window closes, you're paying a fee you could be paying zero on right now.
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