On‑chain options land on Solana

Until now, a Solana trader who wanted to lock in a future price usually had to leave the chain and use a centralized exchange. On April 9, 2026, Manifest added options markets on Solana through a partnership with Dual Finance, so the contract and the trade can happen on-chain instead. (solanafloor.com) An option is a paid reservation on a future price. A call gives you the right to buy later at a set price, and a put gives you the right to sell later at a set price before the contract expires. (solanafloor.com) That matters because spot trading only lets you buy or sell right now. Options let a trader cap downside on a token they already hold, or bet on a move without paying the full price of the token up front. (solanafloor.com) Manifest is not a new chain or a wallet. It is an on-chain order book exchange on Solana, and its public codebase describes it as an “Unlimited Orderbook” with no protocol trading fees and market creation rent of about 0.007 Solana. (github.com) An order book is the market screen that shows bids on one side and asks on the other. Instead of sending your trade into a pool that prices everything automatically, Manifest matches buyers and sellers directly on-chain through posted orders. (manifest-orders.fly.dev) The new piece is that Dual Finance supplies the options engine on top of that market structure. Solana Floor reported that traders can create call or put contracts for any token already listed on Manifest, which turns a spot venue into a derivatives venue. (solanafloor.com) This launch is arriving after Manifest got bigger in a very specific corner of Solana trading. Its own market page currently shows the largest pairs are stablecoin swaps like USD1 against United States dollar coin at $23.5 million and Tether against United States dollar coin at $15.8 million, while Solana against United States dollar coin is smaller at $1.6 million. (manifest.trade) Outside reporting shows the same shift. Solana Floor said Manifest grew from roughly 2% of Solana decentralized exchange volume in early January to about 7% by April 2026, with much of that flow coming from stablecoin-to-stablecoin trading. (solanafloor.com) That backdrop helps explain why options are showing up now instead of a year ago. A market that already has active traders, posted orders, and deep stablecoin rails is a better place to add contracts that depend on precise pricing and expiry dates. (manifest.trade, solanafloor.com) The practical promise is simple: keep the trade on Solana, keep custody in the trader’s wallet, and avoid handing margin and settlement to a centralized venue. Manifest’s order API says trades are returned as unsigned Solana transactions that the user signs with their own wallet, and the API “never has access to your private keys.” (manifest-orders.fly.dev) The harder part is adoption. Solana Floor noted that options have struggled to find real traction on Solana before, even as on-chain options venues on Ethereum-compatible chains such as Derive have processed more than $1.8 billion in monthly notional volume. (solanafloor.com) So the story is not just that one more trading tab appeared on one more exchange. It is that Solana now has a live attempt to make a standard Wall Street risk tool work inside a fast on-chain order book, with Dual Finance providing the contracts and Manifest providing the market. (solanafloor.com, github.com)