Jito Foundation: Perpetual Contracts Are the "Trojan Horse" of Traditional Finance Going On-Chain, Solana Must Win This Battle
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Jito Foundation: Perpetual Contracts Are the "Trojan Horse" of Traditional Finance Going On-Chain, Solana Must Win This Battle
According to CoinDesk, Jito Foundation Chair Brian Smith noted in an article that as SpaceX completes one of the largest IPOs in history, Solana and Hyperliquid are fiercely competing for perpetual contract and tokenized stock trading market share. The article argues that perpetual contracts (Perps) are the core gateway for bringing traditional finance traders on-chain—during the US-Iran conflict, on-chain platforms became real-time pricing venues for gold and crude oil when CME was closed, and traditional traders are gradually migrating on-chain. Following SpaceX's IPO, the 24-hour spot trading volume of tokenized stocks on Solana surpassed $100 million for the first time; the opening price of Cerebras Systems stock differed from the on-chain perpetual contract implied price by only 3%, and SpaceX's implied price of $171 also matched the IPO offering price exactly.
Navigating Web3 tides with focused insightsTechFlow news, July 29, according to CoinDesk reports, Jito Foundation Chair Brian Smith wrote that as SpaceX completes one of the largest IPOs in history, Solana and Hyperliquid are fiercely competing for perpetual contract and tokenized stock trading market share. The article argues that perpetual contracts (Perps) are the core gateway for bringing traditional finance traders on-chain—during the US-Iran conflict, on-chain platforms have become real-time pricing venues for gold and crude oil when CME is closed, and traditional traders are gradually migrating on-chain. After the SpaceX IPO, the 24-hour spot trading volume of tokenized stocks on Solana surpassed $100 million for the first time, the discrepancy between Cerebras Systems stock opening price and the implied price of on-chain perpetual contracts was only 3%, and the SpaceX implied price of $171 also matched the IPO offering price exactly.
