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Pacifica

5 pieces · Oct 2025 to Oct 2026

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Perps5 Solana5 DeFi3 Memecoins1

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12025

42026

Start here · the strongest pieces on Pacifica

Map16 Sep 2026Solana perp DEX ecosystem map: Phoenix, Pacifica, Jupiter, Bulk and 11 moreLandscape of 15 Solana perp venues with architecture and traction: Phoenix (crankless CLOB, $1B all-time), Pacifica ($220B+ cumulative), Jupiter (~$510B cumulative), Bulk, GMTrade, Bullet, Parasol and Drift's rebuild as Velocity.Breakdown22 Oct 2026Bulk: validator-embedded perp DEX on Solana, 46 days after mainnetBulk runs matching in a leaderless BFT network of Solana validators. After 46 days it has ~$1.3B cumulative volume, $14.6M OI (10x since 9 Sep) and ~$9K daily fees; December removes the speed bump, zero maker fees and Challenger Season 1 together.Market take24 Oct 2025Why Solana TVL holds at $11B while user activity fellSolana TVL is near ATH while active users dropped since the meme and agent peak. Attributes the shift to perp appchains, Phantom's Hyperliquid integration, BNB Chain and Base retail competition, and prediction markets absorbing gambling flow.

Timeline · every piece, newest first

2026 4

24 Oct 2026Bulk bull case, short version: validator-native perps at $13.4M OIThe short case for Bulk: the only Solana perp DEX inside the validator set, $1.4B cumulative volume in six weeks, OI up from $1.4M to $13.4M, BIP-1 permissionless listings on testnet, no token and points running.ThesisPerpsSolanaDeFi

22 Oct 2026Bulk: validator-embedded perp DEX on Solana, 46 days after mainnetBulk runs matching in a leaderless BFT network of Solana validators. After 46 days it has ~$1.3B cumulative volume, $14.6M OI (10x since 9 Sep) and ~$9K daily fees; December removes the speed bump, zero maker fees and Challenger Season 1 together.BreakdownPerpsSolanaDeFi

17 Sep 2026Solana Alignment Spectrum: where perp DEX matching sits in the stackSplits Solana perp DEXs by how deep matching sits in Solana: Pacifica offchain on its own servers, Bullet in a bonded sequencer, Bulk in ~5% of validators, Parasol aiming for inside Agave itself.MapPerpsSolana

16 Sep 2026Solana perp DEX ecosystem map: Phoenix, Pacifica, Jupiter, Bulk and 11 moreLandscape of 15 Solana perp venues with architecture and traction: Phoenix (crankless CLOB, $1B all-time), Pacifica ($220B+ cumulative), Jupiter (~$510B cumulative), Bulk, GMTrade, Bullet, Parasol and Drift's rebuild as Velocity.MapPerpsSolanaDeFi

2025 1

24 Oct 2025Why Solana TVL holds at $11B while user activity fellSolana TVL is near ATH while active users dropped since the meme and agent peak. Attributes the shift to perp appchains, Phantom's Hyperliquid integration, BNB Chain and Base retail competition, and prediction markets absorbing gambling flow.Market takeSolanaPerpsMemecoins

Often covered with

Bulk8 Bullet34 Hyperliquid117 Jupiter5 Solana60 Lighter21 Paradex26

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