Solana Foundation is doubling down on fully onchain perpetual futures, launching a targeted push to fund teams that build complete onchain perp stacks — a direct challenge to the hybrid market structure that helped Hyperliquid explode onto the scene.
Why it matters
- Perpetual futures (perps) are one of crypto’s most lucrative and high-volume products, but most trading still happens on centralized exchanges or hybrid on/offchain venues. Solana’s play is to move the entire perp execution path onto-chain — order entry, oracle updates, matching, cancellations and settlement — arguing the network’s throughput and low latency make that viable for institutional workflows.
- The move pits Solana-native designs against winners like Hyperliquid, which proved traders will migrate onchain when speed, liquidity and UX match expectations.
What the Foundation is offering and demanding
On June 1, 2026 the Solana Foundation wrote on X: “Perpetuals are one of the most important financial primitives in crypto. Solana makes it viable to run them fully onchain, without sacrificing the performance real participants and institutions require.” The Foundation said it will back teams through distribution, technical assistance and — critically — capital.
Key priorities for projects:
- Full onchain execution: every order submission, oracle update, match, cancellation and settlement occurs on-chain.
- Two-sided price discovery: preference for orderbooks, RFQ systems with competing makers, or other mechanisms where active participants set bids/offers — not pool-based pricing tied to deposits.
- Solana-first design: apps should be optimized for SOL’s architecture and culture, and ideally route application revenue back to the chain at the protocol level from launch.
- Open source code: transparency is required so onchain integrity can be verified.
- Migration support: existing teams running offchain or hybrid perps can apply to move to a fully onchain Solana model.
Broader ecosystem scope
The initiative isn’t limited to core perp protocols. The Foundation also seeks complementary infrastructure: frontend integrations, vaults, structured products, aggregators, advanced trading interfaces, market-making operations and social trading tools. Funding may come via Solana Foundation grants or local Superteam chapters.
Strategic implications
A successful Solana-native perp venue could do more than add a DeFi app — it could create persistent transaction volume, MEV-adjacent flow, influence validator economics and pull liquidity deeper into the Solana ecosystem. That’s why the Foundation’s emphasis on where fees, order flow and incentives accrue is so pointed.
Market snapshot
At press time, SOL was trading at $79.54.
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