Solana’s nearly $500 million decentralized finance (DeFi) derivatives market is getting a new participant, one that’s looking to take a slice of all the other venues’ pies.
Ranger Finance is an aggregator service that wants to be for perpetual futures what Jupiter is to spot swaps: Solana traders’ de-facto homepage for an entire category of on-chain trading.
“We want the Solana ecosystem to compete with your massive decentralized exchange (DEX) players — Hyperliquid, dYdX, Vertex — and currently the best way to do that is via aggregation,” said Ranger co-founder Barrett, a DeFi veteran who also runs the biannual mtnDAO hacker house in Salt Lake City.
Perps (futures contracts that don’t expire) are key drivers of DeFi activity. Most blockchains have their top venue, and Solana, with Jupiter’s perps service, is no exception. But traders seeking to place orders of “significant size” may not be able to find their fill on a single service, Barrett said in an interview.
That’s where the aggregator comes into play.
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Author: Danny Nelson
