Solana Co-Founder Anatoly Yakovenko Builds Percolator DEX to Challenge Hyperliquid

Solana Co-Founder Anatoly Yakovenko has unveiled Percolator, an implementation-ready perpetual Decentralized Exchange (DEX) built directly on the Solana blockchain, announced via GitHub documentation on October 19, 2025. This move is a direct response to Solana losing significant users and revenue to competing perpetual DEXs, most notably Hyperliquid, which captured 35% of blockchain-generated revenue in July 2025.

Percolator utilizes an innovative architecture featuring "sharded matching engines" or "slabs," which divide the order book into independent engines to isolate risk and allow for concurrent processing. The system is powered by a Router program managing collateral and a Slab program handling matching and settlement. Yakovenko used Claude AI to assist in generating and testing the core code, which is now open-source, encouraging community contributions.

The project enters a highly competitive market dominated by Hyperliquid, though Aster has recently gained significant volume. Percolator aims to leverage Solana's high throughput to offer a capital-efficient, exchange-grade workload entirely on-chain, potentially helping Solana recapture market share in the rapidly growing perpetual derivatives sector.

(Source：Brave New Coin)