Abstract: We present a new discrete velocity-level formulation of frictional contact dynamics that reduces to a pair of coupled projections and introduce a simple fixed-point property of this coupled system. This allows us to construct a novel algorithm for accurate frictional contact resolution based on a simple staggered sequence of projections. The algorithm accelerates performance using warm starts to leverage the potentially high temporal coherence between contact states and provides users with direct control over frictional accuracy. Applying this algorithm to rigid and deformable systems, we obtain robust and accurate simulations of frictional contact behavior not previously possible, at rates suitable for interactive haptic simulations, as well as large-scale animations. By construction, the proposed algorithm guarantees exact, velocity-level contact constraint enforcement and obtains long-term stable and robust integration. Examples are given to illustrate the performance, plausibility and accuracy of the obtained solutions.