what's Adrena Protocol?
Adrena Protocol is a decentralized perpetual futures exchange built on Solana, enabling users to trade major cryptocurrency pairs like SOL/USDC, BTC, and others with up to 100x leverage. It emphasizes community ownership through a dual-token model: ADX for governance and ALP for liquidity provision, directing trading fees primarily to token holders rather than retaining them for the team. The platform optimizes for speed and efficiency using on-chain instructions, priority transaction handling, high-quality RPC nodes, and staked validators. This supports reliable execution of leveraged trades in a perpetuals model without traditional orderbooks, fostering sophisticated trading strategies on Solana's high-throughput blockchain.
Adrena Protocol plans integration with Ranger Labs for Solana liquidity aggregation.
Planned integration with Ranger Labs perpetuals aggregator for liquidity aggregation on Solana.
Protocol enters maintenance mode due to limited funding, with TVL falling from $12.1M to under $4.6M as liquidity and trader activity decline.
Market caps doubled across protocol markets and ALP Multiply positions.
New .sol domain integration enables on-chain identity for trading profiles, with SNS support added.
Edge Price Oracles integration adds sub-second, risk-aware price feeds across all markets.
Launches new oracle integration with Chaos Labs on Solana chain.
New Wasabi integration enables token holder yields and 2x leveraged trading.
Protocol reaches new ATH with $1.2M in fees collected
Current FDV stands at $21M, showing significant gap compared to competitors Jupiter ($3.7B) and Drift ($687M).