Darling, gather ’round, for the Solana Foundation has decided to stir the crypto pot with a dash of audacity and a sprinkle of “we-can-do-better-than-you” charm. In a move as bold as a Coward quip at a society soiree, they’ve set their sights on fully onchain perpetual futures, a direct (if oh-so-polite) challenge to Hyperliquid’s reign. How utterly thrilling-and predictable, really.
Solana Vs. Hyperliquid: A Tale of Onchain Ambition
The Foundation, with all the subtlety of a Coward one-liner, framed this as a noble quest to drag derivatives kicking and screaming into the fully onchain era. “Perpetuals,” they trilled on X, “are the darling primitives of crypto, and Solana, my dear, makes them viable without sacrificing performance. How très chic.”
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.
We want to support teams building onchain.
– Solana Foundation (@SolanaFndn) June 1, 2026
The timing, my dear reader, is as deliberate as a Coward plot twist. Hyperliquid, that darling of onchain derivatives, has become the belle of the crypto ball, turning perpetual futures into the season’s hottest ticket. While Solana didn’t deign to mention Hyperliquid by name, the competitive subtext is as obvious as a Coward wit at a dull party.
In their oh-so-eloquent post, the Foundation sniffed that most perp volume still clings to centralized exchanges or hybrid architectures-how passé. “We view that as a transitional state, not a permanent one,” they declared, with all the hauteur of a Coward protagonist. “We shall support teams building onchain perps, other derivatives, and the applications around them, prioritizing price discovery infrastructure. Distribution, technical assistance, and capital-we’re practically throwing a ball in their honor.”
Ah, the language! It’s not just about settling trades onchain, but running the entire execution path with the precision of a Coward dialogue. Every order submission, oracle update, match, cancellation, and settlement must happen onchain. For a chain that’s long boasted of high throughput and low latency, perps are the ultimate stress test-fast updates, deep liquidity, and credible settlement. How utterly exhausting.
And let’s not forget their disdain for pool-based pricing models. “We prefer models where price is set based on two-sided flow,” they huffed, “not pool-based or as a function of deposits. Orderbooks, RFQ systems, or alternative designs-anything but the common rabble.”
Here, the comparison to Hyperliquid becomes as sharp as a Coward barb. Hyperliquid’s success proves that crypto traders will flock to onchain or semi-onchain venues if the experience is fast, liquid, and expressive enough. How inconvenient for Solana, darling.
Solana’s Revenue Grab: Onchain or Bust
The announcement also included a rather pointed requirement: teams must build “Solana-first.” The Foundation insists projects be optimized for SOL’s design and culture, with revenue routed back to the chain-preferably at the protocol level, not left to the whims of future governance. How very controlling.
This, my dear, is where the battle heats up. It’s not just about where traders execute, but where fees, order flow, and liquidity incentives accrue. A successful Solana-native perps venue wouldn’t just be another DeFi app; it could become a recurring source of transaction activity, MEV-adjacent flow, and ecosystem-level liquidity. How utterly capitalistic.
The Foundation also extended an olive branch to teams already building offchain or hybrid perps products, inviting them to migrate to a fully onchain, on-Solana model. “We’ll support existing teams with a live product willing to explore our vision,” they cooed. How magnanimous.
Open source, of course, is non-negotiable. “Onchain integrity means little if the code can’t be inspected,” they wrote. “Contributing to Solana culturally means contributing in the open.” How very transparent-or is it?
This initiative isn’t limited to core perps protocols, oh no. Solana also wants complementary infrastructure: frontend integrations, vaults, structured products, aggregators, advanced trading interfaces, market making operations, and social trading applications. Grants may be available through Solana Foundation funding channels or local Superteam chapters. How utterly inclusive.
At press time, SOL traded at $79.54. How utterly mundane.
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2026-06-02 17:41