Solana co-founder Toly is building a Perp DEX platform

BlockBeats News, October 20th, Solana Labs CEO Anatoly Yakovenko appears to be designing a high-performance decentralized perpetual contract trading platform protocol called Percolator, which will be built on the Solana blockchain natively.

According to the GitHub documentation released on October 19th, the project has entered the "To Be Implemented" phase. Percolator, as a self-hosted on-chain perpetual contract DEX, is characterized by an on-chain routing program that supports users in tracking positions, managing margin, and computing portfolio collateral ratios. The protocol also introduces the "Slabs" innovative design—a seemingly independent order book set up for different tokens. Slabs, as a unique feature of Percolator, aims to enhance efficiency among liquidity providers through a "sharded matching engine": splitting the DEX order book into multiple independently running micro-engines.

Despite the project's GitHub showing a relatively advanced development progress, the official launch date is still unclear. Its "core data structures" (including the routing program, Slab, memory pool, and order book system, among other key modules) are all marked as "completed," while components like the settlement engine are still listed in the to-be-developed checklist. Currently, at least two developers have submitted pull requests for this project.