The best DeFi protocols on Solana for swapping, lending, staking, and yield. Jupiter, Raydium, Marinade, Jito, Kamino, and Drift compared.
Updated February 20, 2026·6 picks reviewed
Solana DeFi has come a long way since the FTX collapse nearly killed the ecosystem. What emerged from the rubble is actually stronger. Transaction fees are fractions of a penny, finality is sub-second, and the UX gap between Solana and Ethereum DeFi has closed. In many ways, Solana DeFi is now more accessible than Ethereum's because you're not calculating gas fees or waiting for block confirmations. The protocols below are the ones that actually matter. They process real volume, hold real TVL, and have shipped products people use daily. If you're doing anything on Solana, you'll touch at least three of these.
Traders who want decentralized perpetual futures on Solana
Decentralized perpetual futures
Perpetual trading is high-risk
Detailed Reviews
#1
Jupiter
Jupiter is Solana's everything exchange. It started as a swap aggregator that routes your trade across every Solana DEX for the best price. Now it does limit orders, DCA, perpetual futures, and launchpad token sales. If you're swapping on Solana, you're using Jupiter. Period. The team ships faster than almost anyone in AI.
Best for: Any token swap on Solana, plus limit orders and DCA
Pros
Best swap execution on Solana
Limit orders and DCA built in
Perpetual futures trading
Aggregates all Solana liquidity sources
Cons
JUP token utility still evolving
Perps are newer and less battle-tested
Single chain (Solana only)
#2
Raydium
Raydium is the AMM that powers a massive chunk of Solana's liquidity. It's where most new tokens launch their initial pools. Concentrated liquidity (CLMM) pools let LPs earn more fees with less capital. If you're providing liquidity or farming on Solana, Raydium is the first stop.
Best for: Liquidity providers and new token launches on Solana
Pros
Deepest liquidity for new Solana tokens
Concentrated liquidity pools
AcceleRaytor launchpad for new projects
Earn fees by providing liquidity
Cons
Smart contract risk
Impermanent loss on volatile pairs
Past exploit in 2022 raised concerns
#3
Marinade Finance
Marinade is the OG Solana liquid staking protocol. Stake SOL, get mSOL, and keep earning staking rewards while you use mSOL across Solana DeFi. What makes Marinade special is its focus on validator decentralization. It delegates to hundreds of validators to improve Solana's health, not just the biggest operators.
Best for: SOL stakers who care about supporting Solana decentralization
Pros
Focuses on Solana network decentralization
mSOL widely accepted across Solana DeFi
Native staking + liquid staking options
Transparent validator selection
Cons
Lower yields than Jito (no MEV boost)
Smaller TVL than Jito now
Commission on staking rewards
#4
Jito
Jito changed the game by redistributing MEV tips to stakers. When you stake SOL through Jito, you get JitoSOL that earns regular staking rewards PLUS a cut of the MEV extracted on Solana. This consistently pushes yields above regular staking. Jito is now the largest liquid staking protocol on Solana by TVL.
Best for: SOL holders who want maximum staking yield via MEV
Pros
MEV-boosted staking yields
Largest Solana liquid staking by TVL
JitoSOL composable across DeFi
Transparent MEV redistribution
Cons
MEV revenue varies with network activity
Concentration risk in Jito validators
JTO token governance still maturing
#5
Kamino Finance
Kamino is Solana's answer to Aave. Lending, borrowing, and automated concentrated liquidity management all in one platform. The multiply vaults let you leverage your positions with a few clicks. Kamino has grown fast because the UX is genuinely good. It makes complex DeFi strategies accessible.
Best for: Solana DeFi users who want lending, borrowing, and automated LP in one place
Pros
Leading Solana lending protocol
Automated concentrated liquidity vaults
Leverage (multiply) vaults
Clean, intuitive interface
Cons
Younger protocol with less battle-testing
Liquidation risk on leveraged positions
Solana only
#6
Drift Protocol
Drift is Solana's perpetual futures DEX. It offers up to 20x leverage on major AI pairs with an on-chain order book. The DLOB (decentralized limit order book) gives you a CEX-like trading experience without the centralized custody. Earn yield by providing backstop liquidity through the insurance fund.
Best for: Traders who want decentralized perpetual futures on Solana
Pros
Decentralized perpetual futures
On-chain order book (DLOB)
Up to 20x leverage
Insurance fund for backstop liquidity yield
Cons
Perpetual trading is high-risk
Lower volume than CEX perps
Complex for DeFi beginners
Frequently Asked Questions
Is Solana DeFi safe?
The major Solana DeFi protocols have been audited and handle billions in TVL. The risks are the same as any DeFi: smart contract bugs, oracle failures, and liquidation risk. Solana-specific risks include occasional network congestion and the 2022 FTX-related crisis. The protocols that survived that are battle-hardened.
What wallet should I use for Solana DeFi?
Phantom is the go-to. It connects to every Solana DeFi protocol, handles staking, and supports on-chain swaps. Solflare is a solid alternative. Both are free and work as browser extensions and mobile apps.
How do Solana DeFi fees compare to Ethereum?
Solana DeFi is dramatically cheaper. A swap on Jupiter costs less than $0.01 in transaction fees. The same swap on Uniswap (Ethereum mainnet) could cost $5 to $50+ depending on network congestion. Even Ethereum L2s are more expensive than Solana for most operations.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before investing in any AI technology or using any platform. Some links may be affiliate links.