Manifest Launches Options Markets on Solana in Collaboration with Dual Finance

Manifest, an emerging trading venue on Solana, has added option markets, powered by Dual Finance, to its expanding product suite.

Solana’s largest spot CLOB by volume, Manifest’s options markets launch comes as the exchange solidifies its position in the DeFi economy. 

As onchain volumes shift from memes to stablecoins, Manifest is steadily gaining market share and growing its TVL through yield-bearing vaults, signaling a shift in trading behaviors among network participants.

Manifest, Dual Finance Bring Options Markets to Solana

Manifest is bringing one of TradFi’s favorite tools to its expanding trading venue. Powered by Dual Finance, Manifest’s options markets enable DeFi traders to create call or puts on any listed token.

One of the most popular derivatives instruments in traditional markets, options give traders the right, without obliging them, to buy or sell an asset at a certain price within a specified timeframe. 

Introducing a layer of complexity that the average Solana DeFi user might not be familiar with, options can be a useful strategic tool for both speculating and hedging on various assets. 

While options markets have struggled to gain meaningful adoption so far on Solana, they’ve proven moderately popular on EVM chains. Options trading venues like Derive have processed over $1.8B in monthly notional volume, confirming the appetite for these markets elsewhere in the onchain economy.

Market Share Grows Amidst Climbing Stablecoin Volume

While onchain trading activity has generally trended downwards since the beginning of the year, Manifest has quietly stepped up to claim a growing share of spot DEX volume. 

From consistently capturing around 2% of daily volume share in the first weeks of January, Manifest now accounts for ~7% of Solana’s DEX volume, demonstrating a strong growth trajectory in recent months. 

Blockworks data suggests that much of this volume comes directly from stablecoin-stablecoin trading pairs. While AlphaQ, a prop AMM, has historically dominated intra-stablecoin trading, Manifest has recently claimed the lead in market share, constituting around 24.09% of volume.

After facing disparaging comments for its reliance on memecoin voume in recent years, onchain data indicates that Solana’s DeFi economy is steadily maturing. Stablecoin swaps now represent Solana’s second largest pair category by volume, a metric that memecoins once dominated with over 50% of market share.

TVL Up 343% Since Destiny Vaults Launch

Alongside rising volumes, Manifest’s TVL has enjoyed strong growth since the start of 2026. Since launching Destiny Vaults, or tokenized CLOB liquidity positions, Manifest TVL has increased by 343%, rising from $3.95M to $17.2M in just three months.

The introduction of options markets may help to accelerate Manifest’s TVL growth, giving traders access to new strategies and techniques that are yet to find strong adoption in Solana DeFi.

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