Solana news: Solana Foundation Backs Fully Onchain Perpetual Futures to Rival Hyperliquid
Solana Foundation's Push for Onchain Perpetual Futures
The Solana Foundation has announced a new initiative to support teams developing fully onchain perpetual futures (perps) on the Solana blockchain. This move directly addresses the dominance of hybrid and centralised venues in the derivatives market, such as Hyperliquid, and aims to bring more trading activity natively onchain.
Why Perpetual Futures Matter
Perpetual futures are a key financial primitive in the cryptocurrency sector, enabling traders to speculate on asset prices without expiry dates. Currently, most trading volume for perps occurs on centralised exchanges or platforms using offchain components. The Solana Foundation believes that running these products fully onchain is now viable, thanks to Solana’s high throughput and low latency.
Solana’s Approach: Fully Onchain Execution
The Foundation is prioritising systems where every order, oracle update, match, cancellation, and settlement happens onchain. This approach contrasts with hybrid models that rely on offchain sequencers or matching engines. Solana’s technical capabilities are positioned as a solution for the speed and performance required by institutional and retail traders alike.
Support for Builders and Ecosystem Impact
Solana Foundation’s support includes distribution, technical assistance, and capital. The initiative encourages projects to be “Solana-first,” ensuring that application revenue and liquidity incentives are routed back to the chain. Open source development is also emphasised, with transparency and community contribution as key criteria.
Opportunities for UK Developers and Traders
For UK-based DeFi builders and traders, this initiative presents opportunities to participate in the next phase of onchain derivatives. The Foundation is open to supporting both new projects and existing teams willing to migrate to a fully onchain Solana model. Complementary infrastructure, such as trading interfaces and aggregators, is also encouraged.
Why This Matters for the UK Solana Ecosystem
- UK DeFi teams can access grants and technical support for building onchain derivatives.
- Traders benefit from increased transparency and potentially lower fees compared to centralised venues.
- Strengthens Solana’s position as a high-performance blockchain for financial applications relevant to UK market participants.
As the competition with platforms like Hyperliquid intensifies, Solana’s focus on fully onchain perps could drive innovation and adoption within the UK’s growing blockchain sector.
