Solana Foundation Unveils Open-Source DvP Settlement Program

The Solana Foundation introduced Solana DvP, an open-source escrow program and API designed for delivery-versus-payment (DvP) settlement on the Solana network. Announced on October 6, this MIT-licensed release provides a framework for securely exchanging assets and payments simultaneously. The program includes an escrow arrangement and an API, ensuring that asset transfers are tied to payment receipts.

J.P. Morgan contributed advisory input on institutional settlement practices but was not involved in designing, developing, or endorsing the program. The Solana Foundation emphasized that the bank's role was limited to consultation. Solana DvP aims to settle transactions atomically, meaning both the asset and payment are completed together or not at all, addressing potential delays in traditional markets.

The program supports SPL Token and Token-2022 assets, including features like permanent delegates, pausable tokens, and transfer hooks. These extensions can be useful for token controls and transaction handling. The Solana Foundation noted that the program underwent external security audits before planned production use, though no institutions have begun using it yet.