Solana Pushes Native Perps DEX to Challenge Hyperliquid Dominance

Solana co-founder Anatoly Yakovenko urges development of an atomically composable perp DEX inside the SVM to boost native apps. Hyperliquid captured 43% of

Dipendra Singh

— 2 min read
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Solana Pushes Native Perps DEX to Challenge Hyperliquid Dominance

Hero: A dynamic digital scene depicting Solana's blockchain network with interconnected trading interfaces for perpetual futures, clashing against a dominant Hyperliquid platform amid flowing data streams and volume metrics

Summary

  • Solana co-founder Anatoly Yakovenko urges development of an atomically composable perp DEX inside the SVM to boost native apps.
  • Hyperliquid captured 43% of crypto fees with $181B in April 2026 volume, while Solana perps DEXes reached only $30B.
  • Projects such as Pacific position Solana for growth in defi derivatives ahead of 2026 competition.

Solana co-founder Anatoly Yakovenko wants a perp DEX built straight into the Solana Virtual Machine. He made the push in April 2026 to challenge Hyperliquid in decentralized perpetual futures.

Hyperliquid grabbed 43 percent of all crypto fees that month. It posted 181 billion dollars in volume. Solana perps DEXes handled just 30 billion.

This approach gives Solana apps direct access to perpetual contract trading. It removes the need for outside dependencies. The goal stays simple. Close that volume gap in defi derivatives.

"Solana's SVM needs an atomically composable perp DEX in its runtime so innovation can flourish. Apps built inside the SVM can't use HL because ..."

, Anatoly Yakovenko (TradingView)

Context

Hyperliquid built its lead on high volume and strong fee capture in perpetual futures. Solana has lagged in this area despite clear speed and cost advantages.

Yakovenko calls for tighter integration right at the runtime level. This change would let Solana apps trade perpetual contracts directly instead of routing through external venues.

Details

Yakovenko wants the perp DEX inside the SVM itself. That setup delivers atomic composability and cuts friction for Solana native apps.

Pacific runs as one Solana based hybrid perpetual futures DEX. Other high volume projects stand ready to grow fast through 2026.

Solana perps DEXes still trail Hyperliquid by a wide margin on volume. The gap defines the main challenge right now.

Outlook

Developers will now build the SVM native solution Yakovenko outlined. Pacific and similar projects serve as early tests. Volume numbers between Solana platforms and Hyperliquid will show who pulls ahead through the rest of 2026.

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