What to know:
- Solana DeFi veterans are launching the chain’s first perpetual contracts aggregator.
- Ranger Finance thinks it can compete with the big dogs in crypto derivatives.
As a seasoned crypto investor with roots deeply entrenched in the DeFi landscape, I’ve seen my fair share of projects come and go. However, when I heard about Ranger Finance, I couldn’t help but feel a spark of excitement. Here’s why:
A fresh player is joining Solana’s approximately $500 million decentralized finance (DeFi) derivatives market, aiming to claim a share from the offerings of other platforms.
Ranger Finance aspires to serve as the primary platform, much like Jupiter does for spot swaps, for perpetual futures trading within the Solana ecosystem – effectively functioning as the go-to hub for Solana traders in this specific sector of on-chain trading.
In simpler terms, Barrett, a seasoned expert in DeFi (Decentralized Finance) and co-founder of Ranger, expressed that they aim to challenge prominent decentralized exchange (DEX) giants like Hyperliquid, dYdX, Vertex within the Solana ecosystem. Their strategy for success at this point appears to be through aggregation.
Perpetual futures contracts (contracts that don’t expire) play a crucial role in driving Decentralized Finance (DeFi) activity. Each major blockchain has its main platform, and Solana, with Jupiter’s perpetuals service, is no different. However, traders who wish to place large orders may find it challenging to fill their entire order on a single platform, as stated by Barrett in an interview.
In this scenario, an aggregator serves as a crucial tool. By surveying various markets and exchanges, it directs transactions appropriately, as explained by Barrett. Initially, Ranger will link up with Jupiter and the more compact Flash network, but they aim to integrate Drift, Zeta, and other platforms as well.
In the vast, uncharted expanse of Solana, we position ourselves as a unique entity since we don’t face any rivalry in the area of aggregating perpetual contracts,” expressed Barrett.
The Ranger’s squad of eight additionally comprises FA2, a founding member of block explorer SolanaFM, and Coby Lim, heading up the Over-the-Counter (OTC) spot trading division at Blockchain.com.
As an analyst, I can share that I anticipate Ranger will expand its tooling and trading capabilities to align with the expectations of institutional investors. At this moment, they are focusing on a fee-based perpetual swaps (perps) aggregator.
Ranger is considering creating its own cryptocurrency. Barrett, a strong supporter of digital tokens, hinted at the possibility by stating “there will be a token” when questioned about community governance plans. However, he didn’t provide further details on how the token would interact with governance.
It seems uncommon for Ranger to equate tokens with votes and their holders as voters, much like most other decentralized cryptocurrency projects. More likely, these tokens may serve a purpose within a futarchy system, which is a governance model based on markets that was first introduced at mtnDAO.
Barrett mentioned that Ranger is committed to wholeheartedly adopt futarchy once the system transitions into a decentralized form of government.
According to Barrett, what futarchy truly shines at is ensuring that an organization is progressing and executing decisions correctly.
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2024-12-12 19:00