Solana Co-Founder Unveils Percolator, a Sharded Perpetuals DEX on Solana

Anatoly Yakovenko, CEO of Solana Labs, has announced Percolator, a new decentralized exchange (DEX) on the Solana blockchain. The platform is designed for high-speed, self-custodial perpetual futures trading without expiry dates.

Percolator’s Design and Features

The documentation for Percolator has been released on GitHub, indicating it is "implementation-ready."
Key components include a Router for collateral and margin management and a Slab program for matching orders.
Each slab operates independently, ensuring any issues do not affect uninvolved users.
Development of liquidation systems is ongoing, with no official launch date yet.

Competition in the Derivatives Market

The Solana Foundation has not confirmed if Percolator will receive formal support or remain community-driven.
Percolator could enhance Solana's ecosystem, adding to existing financial primitives like lending protocols.
Competitors like Hyperliquid are expanding in the DEX space, having implemented permissionless perpetual contracts.

Hyperliquid captured 35% of blockchain revenue in July, attracting users from platforms like Ethereum and BNB Chain.

As of now, SOL is trading at $187.70, reflecting a 20% loss over two weeks and standing 35% below its all-time high of $293.