Pacifica overtakes Jupiter's perp DEX to steal Solana derivative market top spot
Pacifica, a rapidly growing perpetual futures decentralized exchange (perp DEX) on Solana, has become the most active platform in terms of trading volumes, topping daily, weekly, and monthly metrics. Within six months, it grew from a zero-volume startup to a Solana leader, achieving $1.49 billion in daily trading volumes. It surpassed Jupiter and contributed to a broader rise in Solana’s perp DEX ecosystem, which reached $65.3 billion monthly in October. Pacifica’s growth is supported by point farming incentives, closed beta testing, and increased deposit thresholds. Future plans include a mobile app, multi-chain expansion, and additional financial products like spot markets and DeFi lending. The broader perp DEX space also saw record volumes of $1.36T in October, with other platforms like Hyperliquid and Aster witnessing significant activity spikes.
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Pacifica Leads Solana Perpetual Futures DEX
Pacifica, the fastest-growing perpetual futures DEX on Solana, has taken the top spot for the most active trading volumes. Over the past few months, Pacifica has expanded its activity, preparing for wider adoption. The platform has achieved the #1 position for daily, weekly, and monthly volumes, breaking out significantly during this period. Source: DeFi Llama
The Rise of Pacifica
Launched during the time Aster initiated the perp DEX wars, Pacifica managed to surpass Jupiter to become Solana’s top perp DEX market. Despite initially targeting a closed user base, it has scaled quickly with regular new listings and weekly updates. Its transaction volume now exceeds Jupiter, which briefly led Solana's perp DEX activity. Pacifica is driving innovation with milestones like new order types and enhanced security features. 🌊 Follow updates on their progress: Pacifica Updates.
Solana’s Expanding Perp DEX Market
Pacifica is part of a broader trend of growing perpetual futures volumes on Solana, contributing to its monthly record in October. Solana has nearly doubled its perp DEX activity over the past three months, with total perp DEX volumes reaching $65.3B last month. In this ecosystem, Pacifica achieves an impressive $1.49B in daily volumes, driving Solana’s overall growth.
Pacifica’s Journey to Success
From a zero-volume startup, Pacifica transformed into a market leader within six months by building liquidity and inviting more users. The platform has increased its deposit threshold to $100K, aligning with its growth strategy. Constance Wang, Pacifica’s founder and former FTX COO, has also announced a point farming program distributing 10K points weekly. More farming rounds, a mobile version, and expansion to multi-chain markets are in the pipeline. Future plans include spot markets and DeFi lending.
Record-Breaking Perp DEX Volumes
Perp DEX activity hit a record in October, with $1.36T in total volume. Hyperliquid stood out with multiple on-chain liquidations, while Aster surpassed it in reported volumes. However, Lighter, despite being an all-time volume leader due to zero-fee trades, faced scrutiny over its trading volume's accuracy. Its low total value locked raises questions about actual activity levels. Amid this competition, Pacifica avoids bot-driven tactics, instead focusing on building an organic user base, achieving a spot in the top 10 exchanges by volume.