Anatoly Yakovenko, co-founder of Solana, quietly announced that he is working on a new perp DEX. The project, called “Percolator”, will be native L1 of the SOL blockchain.
As the perp DEX market continues to grow, platforms like Aster and Hyperliquid are competing fiercely for dominance. A new wild card like Percolator could seriously disrupt the equation.
The new Perp DEX from Solana
Solana has lost some ground in the coin sector recently, but its recent infrastructure investment successes show that it is ready to expand into new markets.
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This morning, a co-founder of Solana quietly announced that he was working on Percolator, a new perpetual DEX native to the SOL blockchain.
Anatoly Yakovenko, the co-founder in question, doesn’t have a big social media presence, so he only posted about it via GitHub.
However, the corresponding page reveals a lot of information about this Solana DEX. It’s a bit difficult to parse all the raw code, but he also shared a text file summarizing Percolator’s development.
Although a few key steps such as account validation, closing positions, updating funding rates, etc. remain unfinished, Yakovenko has already completed many basic data structures and functionality. Percolator may begin serious stress testing soon, depending on future progress.
Disrupt the market
So, what impact could a Solana DEX have on the crypto market? Perp DEXs are a rapidly growing market, leading to new competition.
Aster, a CZ-backed project, recently supplanted Hyperliquid’s market share, but then suffered several major setbacks. The hyperliquid, for its part, is determined to regain the upper hand.
A new candidate, however, could become a real wild card:
In other words, there could be a major disruption in the future. If the perp DEX market continues to grow without a clear leader, a new L1 from Solana could make a splash.
It all depends on the technical characteristics of Percolator and the timing of its launch, but the project is worth monitoring.
