This is our independent Pacifica Review (2026). How did an ex-FTX team build Solana's #1 perp DEX in just 6 months? Are those 0.02% maker fees sustainable without VC funding? And should you trust a closed beta platform with your trading capital?
Summary of this Pacifica review: Pacifica is the real deal — $64B+ cumulative volume, sub-20ms execution, and it's already beaten Jupiter and Drift to become Solana's top perp DEX. The team includes FTX's former COO Constance Wang plus veterans from Binance, Jane Street, and DeepMind. What makes this interesting: they're completely self-funded. No VC allocation means the eventual token airdrop could be generous.
But here's the catch: it's still in closed beta. You need an invite or waitlist access. The BlockSec audit exists but isn't publicly available. And the FTX connection — while bringing serious trading infrastructure expertise — might spook some users. For Solana perp traders who can get access? Pacifica offers Hyperliquid-level execution on Solana. For everyone else, Jupiter Perps or Drift remain solid alternatives.
Pacifica Review - Introduction
Pacifica launched in June 2025 with a simple pitch: bring CEX-grade performance to Solana without sacrificing self-custody. Seven months later, it's processing more perp volume than any other Solana DEX.
Key Facts:
- Launched: June 10, 2025 (mainnet)
- Chain: Solana
- Type: CLOB Perpetual DEX
- TVL: ~$37-40M
- Cumulative Volume: $64B+
- Token: $PACIFICA (not launched — points program active)
- Backed by: Self-funded (no VC)
The team reads like a crypto all-star roster: Constance Wang (ex-FTX COO), plus engineers from Binance, Jane Street, OpenAI, and DeepMind. They built this from scratch — no forks.
Pacifica Review - How It Works
Pacifica uses an off-chain order book with on-chain settlement. Orders match off-chain (that's where the speed comes from), then settle on Solana for transparency. Think of it as a hybrid: CEX speed, DEX custody.
Key Features
- Sub-20ms execution: Faster than most CEXs
- 5x-50x leverage: Varies by market
- 20+ perp markets: Including BTC, ETH, SOL, and pre-market tokens like Monad
- Hourly funding rates: Updates every hour vs. the typical 8-hour interval
- Cross and isolated margin: Your choice
- Max order size: $4M at 50x leverage
The hourly funding is actually a big deal — it means rates adjust faster to market conditions, reducing the risk of getting wrecked by stale funding.
Pacifica Review - Fees
Pacifica's fees are competitive, especially for active traders:
| Tier | Maker Fee | Taker Fee |
|---|---|---|
| Base | 0.020% | 0.050% |
| Beta Promo (50% off) | 0.010% | 0.025% |
| VIP (high volume) | 0.000% | 0.015% |
Fee Comparison (on $10,000 trade):
- Pacifica: $2-5 (depending on tier)
- Hyperliquid: $0-2 (maker rebates available)
- Jupiter Perps: ~$6
Hyperliquid still edges out on fees, but Pacifica is close — and it's Solana-native, which matters if you're already in that ecosystem.
Pacifica Review - Security
Here's where things get a bit murky:
| Auditor | Scope | Report |
|---|---|---|
| BlockSec | Perp contracts, bridge | Not publicly available |
Security Architecture
- Hot-cold hybrid: Limited hot wallet for fast withdrawals, bulk in cold storage
- Multi-sig via Squads Protocol: Same infrastructure securing $10B+ on Solana
- Bug bounty: Active program
- Track record: Zero exploits since June 2025
Our Security Assessment: 7/10 — Clean track record and solid architecture, but we'd like to see that BlockSec audit made public. The Squads integration is reassuring.
Pacifica Review - Pros & Cons
✅ Pros
- Fastest on Solana: Sub-20ms beats Jupiter and Drift
- Elite team: FTX COO + Binance/Jane Street veterans
- No VC dilution: Self-funded means better tokenomics for community
- Points program active: 500K points distributed weekly
- Hourly funding: More responsive than 8-hour competitors
❌ Cons
- Closed beta: Can't just sign up — need access
- Audit not public: BlockSec audited but report isn't available
- Token not launched: Still speculative
- FTX association: Could be a red flag for some
- 7 months old: Young protocol
Pacifica Review - Alternatives
Pacifica vs Hyperliquid
Hyperliquid has more markets (200+), lower fees (maker rebates), and a launched token. But it's on its own L1, not Solana. If you want Solana-native perps, Pacifica wins. If you just want the best perp DEX overall, Hyperliquid is still king.
Pacifica vs Jupiter Perps
Jupiter is more accessible (no waitlist) and part of a broader DeFi superapp. But Pacifica's execution is faster and fees are lower for active traders.
Pacifica vs Drift
Drift is battle-tested and fully open. Pacifica has better execution but less track record. Pick Drift for safety, Pacifica for speed.
Verdict: Should You Use Pacifica?
Our Rating: 7.8/10
Pacifica is the fastest perp DEX on Solana, built by a team that actually knows trading infrastructure. The self-funded approach is refreshing — no VCs waiting to dump tokens on retail.
Use Pacifica if:
- You can get beta access
- You want the fastest Solana perps
- You're farming points for the airdrop
- You trust the ex-FTX team's expertise
Skip Pacifica if:
- You can't get access (it's closed beta)
- You want a launched, tradeable token
- The FTX connection concerns you
- You prefer fully audited, open-source protocols
Bottom line: Pacifica is building something serious. Once it opens up and the token launches, it could challenge Hyperliquid as the go-to perp DEX — at least for Solana users.
Frequently Asked Questions
Is Pacifica safe?
Pacifica has been audited by BlockSec and uses Squads Protocol for multi-sig security. No exploits since launch in June 2025. However, the full audit report isn't public.
What are Pacifica's fees?
Base fees are 0.02% maker / 0.05% taker. Beta users get 50% off. VIP traders can get 0% maker fees.
How do I get Pacifica access?
Pacifica is in closed beta. Join the waitlist on their website or get an invite from an existing user.
When is the Pacifica token launching?
No confirmed date. The points program is active — 500,000 points distributed weekly. These are expected to convert to $PACIFICA tokens at TGE.
Who founded Pacifica?
Constance Wang (former FTX COO) is a co-founder, alongside team members from Binance, Jane Street, OpenAI, and DeepMind.