Solana Launches Institutional-Grade Benchmarks
Solana has launched two institutional-grade benchmarks, SOLBR and SLX, to serve as USD reference rates and risk-free return anchors for DeFi. The benchmarks are designed to attract institutional capital and support the creation of more sophisticated financial products, such as structured products and advanced prediction markets, on the network.
- The SOLBR benchmark was officially launched on February 16, 2024, by MarketVector Indexes. Shortly after, on March 26, 2024, it was announced that the Figment Solana Plus Staking Rewards ETP (SOLF), listed on the SIX Swiss Exchange, would use SOLBR as its underlying benchmark. - The CoinDesk Solana Price Index (SLX) has been in operation since October 1, 2021. As of October 2024, the index sources its pricing data from Coinbase, Kraken, LMAX Digital, and Crypto.com. - Further cementing its institutional role, Intercontinental Exchange (ICE) launched cash-settled futures contracts based on several CoinDesk Indices, including one for Solana, on February 12, 2026. - The introduction of these benchmarks is distinct from the on-chain oracle services provided by Pyth Network, which sources data from over 90 first-party providers like exchanges and trading firms to deliver real-time price feeds for DeFi applications. - While DeFi protocols that offer structured products and derivatives are prime candidates to utilize such benchmarks, there have been no public announcements from major Solana protocols like Jupiter or MarginFi regarding the integration of SOLBR or SLX specifically. - The ticker "SLX" is also being used by a Solana-based DeFi project called Solstice for its ecosystem token, which launched on December 22, 2025. This creates a potential point of confusion for traders tracking assets and narratives. - These benchmarks arrive as institutional interest in Solana derivatives is demonstrably growing. In July 2025, trading volume for Solana futures on the Chicago Mercantile Exchange (CME) surged by 252% to $8.1 billion, indicating a significant increase in institutional speculation and hedging.
