Anatoly Yakovenko’s Percolator DEX Invites Developers to Compete
Solana co-founder Anatoly Yakovenko has introduced Percolator, an open-source decentralized perpetuals exchange (perps DEX) built natively on SOL. Released on GitHub on October 19, the project aims to deliver high-speed on-chain trading and has sparked widespread developer interest across the ecosystem.
A High-Speed Open-Source DEX
Percolator is designed around Solana’s performance strengths, featuring a “slab” system — a parallelized matching engine that processes multiple trades simultaneously. The prototype also includes tools for managing collateral, tracking margin, and maintaining positions without depending on centralized infrastructure.
Yakovenko’s decision to open-source the code and invite developers to fork it marks a significant step for decentralized innovation. He encouraged builders to “steal” the idea, framing Percolator as an experiment in transparent and competitive development.
Why It Matters for Solana
While decentralized exchanges such as GMX, dYdX, and Hyperliquid dominate the perpetuals trading space, SOL has lacked a flagship perps platform. Percolator could help close that gap by combining Solana’s high throughput with efficient, user-friendly trading design.
If completed and adopted, the DEX could strengthen Solana’s decentralized finance (DeFi) infrastructure and position it as a stronger contender in the $210 billion perpetuals market.
Solana Development Still in Progress
The GitHub documentation shows that the router and matching engines are already functional, though key modules — including liquidation mechanics — are still being developed. Yakovenko also noted that the project’s documentation was partially written with the help of AI tools.
While Percolator is not yet ready for full deployment, its early visibility and open-source approach have generated significant engagement from developers eager to test or expand upon its design.
