FTX Connections Shine Spotlight on Solana’s Pacifica Perpetual DEX
Solana's Pacifica perpetual DEX grabs attention as FTX ties resurface in crypto circles. The decentralized exchange platform—built on Solana's high-speed blockchain—faces renewed scrutiny amid ongoing industry fallout.
Why Pacifica Matters Now
Pacifica represents Solana's ambitious push into perpetual futures trading without centralized intermediaries. The platform leverages Solana's sub-second finality to execute trades faster than traditional exchanges while maintaining decentralized custody.
FTX's shadow looms large over the project. Previous investments and technical integrations create unavoidable connections that market watchers can't ignore. Yet Pacifica's architecture fundamentally differs from FTX's centralized model—it never holds user funds.
Technical Edge Meets Market Skepticism
The DEX delivers leveraged trading with on-chain transparency that centralized venues simply can't match. Its order book structure bypasses traditional market makers while maintaining liquidity through automated mechanisms.
Still, crypto veterans raise eyebrows at any project touching FTX's legacy. One trader quipped, 'Nothing warms investor hearts like former FTX partnerships—except maybe a prospectus written in Comic Sans.'
Pacifica's success hinges on whether traders prioritize technical innovation over association bias. The platform's performance during recent volatility tests suggests Solana's infrastructure can handle real pressure. Now it must prove it can handle skeptical traders too.
Solana DEX gain support from former FTX, Alameda hires
Just days before Pacifica gained attention, Armani Ferrente, an early Alameda Research hire, defended on-chain perpetual DEXs for being safer than the FTX centralized model. Ferrente is already promoting his own Backpack exchange, achieving over $10B in weekly volumes.
On-chain and transparent trading is seen as a clear defense against the non-transparent asset movements between FTX and Alameda Research.
However, there is still an ongoing discussion if a DEX can have some control of user funds for the sake of trading.
At this stage, Pacifica also emerged as a safer version, offering an advanced trading venue without the risk of FTX. The bankruptcy has not stopped influencers from taking up Pacifica and even promoting it for its connection to FTX.
Pacifica boasts of connection to FTX
The Pacifica perpetual futures DEX is still a relatively small newcomer to the recent perp DEX hype. The exchange only accrued $16.6M in value locked in the first 10 days of activity.
Influencers are already on the task, with some of them focusing on the LINK to FTX. Pacifica has been launched by Constance Wang, former COO at FTX until November 2022.
The Pacifica perp DEX claims to have gathered 10K users, with another 6K flowing in for the past week.
1/ gm
As of now, Pacifica has now reached:
$8,000,000,000+ Total Volume 💹💹
(up 50% since last week)
10,000+ Active Users 🐳🐳🐳
(+6,000 since last week)
600m+ 24h volume 📈https://t.co/wt4vESPDDchttps://t.co/4RDJnAbkJF
We don’t stop. 💪
— Pacifica (@pacifica_fi) September 26, 2025
The DEX reports over $34M in open interest, and posts daily records in deposits and new users. For now, the market has around 4,120 daily active users, a far cry from the success of FTX or even smaller perpetual DEXs.
Some of the influencers are leaning into the rumor that Pacifica will also gain input from Google talent and other former FTX employees, including input from Bankman-Fried.
In the short term, Pacifica is attractive for its early-stage point farming season. The DEX arrived relatively late, and is currently in Season 1, while other markets are already well into their second stage. The opportunity for airdrops is driving traffic to all markets, and all new perp DEXs are yet to prove the current HYPE is sustainable.
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