Beta stage perps DEX Pacifica posts near-record volumes, passing Jupiter and Drift Protocol

Solana’s Pacifica has grown aggressively, surpassing Jupiter and Drift Protocol in daily perp volumes while still in its beta stage. The exchange is still limiting its deposits and withdrawals, though posting peak trading volumes. 

Solana’s new perpetual futures DEX, Pacifica, posted near-peak trading volumes. The DEX surpassed Jupiter and Drift Protocol in daily perp volumes, despite still being in the beta testing stage. 

As Cryptopolitan previously reported, Pacifica was built by former FTX COO Constance Wang. The connection to the FTX exchange has not stopped influencers from boosting the visibility of Pacifica on social media. 

Pacifica is still adding users by invite

The perp DEX is still in beta, with invite-only admissions. The app uses the Solana tech stack and has hinted at launching a token. To date, the DEX reports over $10B in total trading volumes, following its closed beta launch in June. 

Pacifica has reached a total volume of TEN BILLION USD!

Keep swimming

Pacifica 🌊 pic.twitter.com/MvUbcvT5XS

— Pacifica (@pacifica_fi) September 29, 2025

The Solana DEX still carries only $20M in reported value locked, due to the limited deposits. The peak volumes, however, suggest either automated trading or some form of wash trading. Pacifica launched during a period of peak perp volume activity on Solana and almost all other chains. 

As a whole, Solana carries over $832M in perp volumes, with $624M reported from Pacifica. Smaller perp DEXs have almost negligible activity, with most other orders concentrated on Jupiter’s own perp platform, as well as Drift Protocol.

Pacifica points draw attention to an eventual airdrop

As with other perp DEXs at the early stage, Pacifica is running a points campaign. The trading campaign awards 500K points each week and is based on volumes. To date, Pacifica has awarded 2M points. 

The points are unofficially traded, carrying a price of $0.80. The final valuation of the airdrop remains unknown and will depend on DEX activity and liquidity. 

At the same time, Pacifica aims to expand its real value locked by growing individual allocations. Recently, the DEX raised deposit and withdrawal limits to $50,000. The DEX draws in USDC deposits, with over $20M to date from early testers. 

The perpetual futures DEX has limited activity, with around 12K users by invitation. However, as KOLs take up the project, more new users are added at a faster pace, leading to new daily records. 

Pacifica has surpassed other perp DEX on Solana, as it launched during the peak of the narrative. If successful, the DEX may become the Solana answer to Hyperliquid. The current point farming campaign also invites aggressive trading, aiming for the biggest possible airdrop allocations. The overall airdrop is expected to reflect long-term organic usage. 

The DEX is listing a series of altcoins, potentially tapping highly active markets. For now, the DEX lags behind Hyperliquid’s ecosystem, but co-founder Constance Wang has suggested catching up with the Hyperliquid NFT market.

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