Amid the positive regulatory developments in the U.S. regarding crypto perpetual future markets, on June 1, the Solana Foundation, an organization behind the popular blockchain, urged developers to develop fully on-chain perpetuals, derivatives, and related trading apps on Solana.
According to the official announcement, the Solana Foundation stated that, “We want to support teams building on-chain perps, other derivatives, and the applications around them, that prioritize price discovery infrastructure. Our support takes several forms: distribution, technical assistance, and above all, capital.”
Solana to Support On-Chain Perpetual Markets
In the detailed post shared on the official website, Solana has shown its willingness to provide its support for fully on-chain platforms.
The announcement is saying that the network is currently capable of providing impressive performance for on-chain platforms for derivatives trading without relying on off-chain components. “Perpetuals (perps) are one of the most important financial primitives in crypto,” stated in the post.
Amid the growth in the perpetual and derivative market, Solana is planning to boost the ecosystem of derivatives markets on its blockchain network without giving up on the network’s performance.
In the post, the foundation has criticized how centralized exchanges and hybrid models are currently dominating the market. “Most perps volume today flows through either CEXes or hybrid architectures that rely on off-chain sequencers or matching engines,” stated in the post.
Solana Foundation has urged the team to come out of these temporary solutions while supporting the developers to develop a “fully on-chain execution model.”
The post has also shared their priorities, including fully on-chain execution, real price discovery, a Solana-first approach, and open source models.
In the post, the Foundation has also urged others to provide support in the development of the perpetual market. “We also welcome teams building complementary infrastructure and products to perps: frontend integrations, vaults, structured products, aggregators, advanced trading interfaces, market making operations, social trading applications, and so on,” stated in the post.
Explosive Growth in the Perps Market
Perpetual futures have become a popular type of trading in the digital asset market. In 2025, the global crypto derivatives volume soared to approximately $85.7 trillion, according to Coinglass. In this, the contribution of perpetual contracts was so high. In 2025, decentralized perp platforms have processed $6.7 trillion in volume, which was a 346% spike compared to the last year, according to the report.
In the last few years, the market share of decentralized exchanges in perpetuals has soared in a significant manner. The reason behind the growth in crypto derivatives is the decentralized platforms such as Hyperliquid. According to DeFiLlama, the cumulative perp volume on Hyperliquid has soared above $4.55 trillion. At the same time, it is holding up around $9.77 billion in open interest.
CFTC Grants Approval for Regulated Bitcoin Perpetual Futures Contracts
This announcement is coming at a time of major regulatory developments from the U.S., which is expected to end long-standing regulatory ambiguity and provide regulatory clarity to the digital asset sector.
On May 29, the Commodity Futures Trading Commission (CFTC) approved the Kalshi Bitcoin perpetual futures contract, which is known as BTCPERP. This is the first regulated Bitcoin perpetual futures contract in the United States.
At the same time, the CFTC has granted a no-action letter to Coinbase, which will allow the exchange to provide access to its clients to global crypto in the United States.
“The Market Participants Division (“Division”) of the Commodity Futures Trading Commission (“Commission”) is issuing this letter in response to a request from Coinbase Financial Markets, Inc. (“CFM”),1 a registered futures commission merchant (“FCM”), for an interpretative and no-action letter under Commission Regulation 140.99.2 CFM requests that the Division issue an interpretative letter confirming that CFM may categorize the Deribit Perpetuals (as defined below) as foreign futures as defined by Commission Regulation 30.1 when transacted by customers through CFM,” stated in the letter.
