diff --git a/.devcontainer/Dockerfile b/.devcontainer/Dockerfile
index 2d4688614c..39d1ca340f 100644
--- a/.devcontainer/Dockerfile
+++ b/.devcontainer/Dockerfile
@@ -1,54 +1,49 @@
 #
-# Docker image to generate deterministic, verifiable builds of Anchor programs.
-# This must be run *after* a given ANCHOR_CLI version is published and a git tag
-# is released on GitHub.
+# Drift Protocol Dev Container
 #
 
-FROM rust:1.75
+FROM --platform=linux/amd64 rust:1.70.0
 
 ARG DEBIAN_FRONTEND=noninteractive
-
-ARG SOLANA_CLI="1.14.7"
-ARG ANCHOR_CLI="0.26.0"
-ARG NODE_VERSION="v18.16.0"
+ARG SOLANA_CLI="1.16.27"
+ARG ANCHOR_CLI="0.29.0"
+ARG NODE_VERSION="20.18.1"
 
 ENV HOME="/root"
-ENV PATH="${HOME}/.cargo/bin:${PATH}"
-ENV PATH="${HOME}/.local/share/solana/install/active_release/bin:${PATH}"
-ENV PATH="${HOME}/.nvm/versions/node/${NODE_VERSION}/bin:${PATH}"
-
-# Install base utilities.
-RUN mkdir -p /workdir && mkdir -p /tmp && \
-    apt-get update -qq && apt-get upgrade -qq && apt-get install -qq \
-    build-essential git curl wget jq pkg-config python3-pip \
-    libssl-dev libudev-dev
-
-RUN wget http://nz2.archive.ubuntu.com/ubuntu/pool/main/o/openssl/libssl1.1_1.1.1f-1ubuntu2_amd64.deb
-RUN dpkg -i libssl1.1_1.1.1f-1ubuntu2_amd64.deb
-
-# Install rust.
-RUN curl "https://sh.rustup.rs" -sfo rustup.sh && \
-    sh rustup.sh -y && \
-    rustup component add rustfmt clippy
-
-# Install node / npm / yarn.
-RUN curl -o- https://raw.githubusercontent.com/creationix/nvm/v0.33.11/install.sh | bash
-ENV NVM_DIR="${HOME}/.nvm"
-RUN . $NVM_DIR/nvm.sh && \
-    nvm install ${NODE_VERSION} && \
-    nvm use ${NODE_VERSION} && \
-    nvm alias default node && \
-    npm install -g yarn && \
-    yarn add ts-mocha
-
-# Install Solana tools.
-RUN sh -c "$(curl -sSfL https://release.solana.com/v${SOLANA_CLI}/install)"
-
-# Install anchor.
-RUN cargo install --git https://github.com/coral-xyz/anchor avm --locked --force
-RUN avm install ${ANCHOR_CLI} && avm use ${ANCHOR_CLI}
-
-RUN solana-keygen new --no-bip39-passphrase
+ENV PATH="/usr/local/cargo/bin:${PATH}"
+ENV PATH="/root/.local/share/solana/install/active_release/bin:${PATH}"
+
+RUN mkdir -p /workdir /tmp && \
+    apt-get update -qq && apt-get upgrade -qq && apt-get install -y --no-install-recommends \
+      build-essential git curl wget jq pkg-config python3-pip xz-utils ca-certificates \
+      libssl-dev libudev-dev bash && \
+    rm -rf /var/lib/apt/lists/*
+
+RUN rustup install 1.78.0 \
+  && rustup component add rustfmt clippy --toolchain 1.78.0
+
+RUN curl -fsSL "https://nodejs.org/dist/v${NODE_VERSION}/node-v${NODE_VERSION}-linux-x64.tar.xz" -o /tmp/node.tar.xz \
+  && tar -xJf /tmp/node.tar.xz -C /usr/local --strip-components=1 \
+  && rm /tmp/node.tar.xz \
+  && corepack enable \
+  && npm install -g ts-mocha typescript mocha \
+  && node -v && npm -v && yarn -v
+
+# Solana CLI (x86_64 build)
+RUN curl -sSfL "https://github.com/solana-labs/solana/releases/download/v${SOLANA_CLI}/solana-release-x86_64-unknown-linux-gnu.tar.bz2" \
+  | tar -xjC /tmp \
+  && mv /tmp/solana-release/bin/* /usr/local/bin/ \
+  && rm -rf /tmp/solana-release
+
+# Anchor CLI
+RUN cargo install --git https://github.com/coral-xyz/anchor --tag "v${ANCHOR_CLI}" anchor-cli --locked
+
+# Set up Solana key + config for root
+RUN solana-keygen new --no-bip39-passphrase --force \
+  && solana config set --url localhost
+
+RUN apt-get update && apt-get install -y zsh curl git \
+  && sh -c "$(curl -fsSL https://raw.githubusercontent.com/ohmyzsh/ohmyzsh/master/tools/install.sh)" "" --unattended \
+  && chsh -s /usr/bin/zsh root
 
 WORKDIR /workdir
-#be sure to add `/root/.avm/bin` to your PATH to be able to run the installed binaries
diff --git a/.devcontainer/devcontainer.json b/.devcontainer/devcontainer.json
index d5aa4e718b..3228a43367 100644
--- a/.devcontainer/devcontainer.json
+++ b/.devcontainer/devcontainer.json
@@ -1,3 +1,54 @@
 {
-    "build": { "dockerfile": "Dockerfile" },
-  }
\ No newline at end of file
+  "name": "Drift Protocol Development",
+  "build": {
+    "dockerfile": "Dockerfile",
+    "platform": "linux/amd64"
+  },
+  "workspaceFolder": "/workdir",
+  "remoteUser": "root",
+  "mounts": [
+    "source=${localWorkspaceFolder},target=/workdir,type=bind,consistency=cached",
+    "source=drift-target,target=/workdir/target,type=volume,consistency=delegated"
+  ],
+  "postCreateCommand": "yarn config set ignore-package-manager true && echo 'Dev container ready! You can now run: anchor build, anchor test, cargo build, etc.'",
+  "customizations": {
+    "vscode": {
+      "extensions": [
+        "rust-lang.rust-analyzer",
+        "ms-vscode.vscode-json",
+        "tamasfe.even-better-toml"
+      ],
+      "settings": {
+        "rust-analyzer.cachePriming.numThreads": 1,
+        "rust-analyzer.cargo.buildScripts.enable": true,
+        "rust-analyzer.procMacro.enable": true,
+        "rust-analyzer.checkOnSave": true,
+        "rust-analyzer.check.command": "clippy",
+        "rust-analyzer.server.extraEnv": {
+          "NODE_OPTIONS": "--max-old-space-size=4096",
+          "RUSTUP_TOOLCHAIN": "1.78.0-x86_64-unknown-linux-gnu"
+        },
+        "editor.formatOnSave": true,
+        "git.ignoreLimitWarning": true
+      }
+    }
+  },
+  "forwardPorts": [
+    8899,
+    8900
+  ],
+  "portsAttributes": {
+    "8899": {
+      "label": "Solana Test Validator",
+      "onAutoForward": "notify"
+    },
+    "8900": {
+      "label": "Solana Test Validator RPC",
+      "onAutoForward": "notify"
+    }
+  },
+  "containerEnv": {
+    "ANCHOR_WALLET": "/root/.config/solana/id.json",
+    "RUST_LOG": "solana_runtime::message_processor::stable_log=debug"
+  }
+}
\ No newline at end of file
diff --git a/README.md b/README.md
index 28e340d853..0bb99c9b0a 100644
--- a/README.md
+++ b/README.md
@@ -55,6 +55,48 @@ cargo test
 bash test-scripts/run-anchor-tests.sh
 ```
 
+# Development (with devcontainer)
+
+We've provided a devcontainer `Dockerfile` to help you spin up a dev environment with the correct versions of Rust, Solana, and Anchor for program development.
+
+Build the container and tag it `drift-dev`:
+```
+cd .devcontainer && docker build -t drift-dev .
+```
+
+Open a shell to the container:
+```
+# Find the container ID first
+docker ps
+
+# Then exec into it
+docker exec -it <CONTAINER_ID> /bin/bash
+```
+
+Alternatively use an extension provided by your IDE to make use of the dev container. For example on vscode/cursor:
+
+```
+1. Press Ctrl+Shift+P (or Cmd+Shift+P on Mac)
+2. Type "Dev Containers: Reopen in Container"
+3. Select it and wait for the container to build
+4. The IDE terminal should be targeting the dev container now
+```
+
+Use the dev container as you would a local build environment:
+```
+# build program
+anchor build
+
+# update idl
+anchor build -- --features anchor-test && cp target/idl/drift.json sdk/src/idl/drift.json
+
+# run cargo tests
+cargo test
+
+# run typescript tests
+bash test-scripts/run-anchor-tests.sh
+```
+
 # Bug Bounty
 
 Information about the Bug Bounty can be found [here](./bug-bounty/README.md)