Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Solana Co-Founder Is Launching a New Perp DEX To Rival Aster and Hyperliquid

Solana Co-Founder Is Launching a New Perp DEX To Rival Aster and Hyperliquid

BeInCryptoBeInCrypto2025/10/20 07:55
By:Landon Manning

Anatoly Yakovenko’s new project, Percolator, signals Solana’s entry into the growing perpetuals DEX market. With core systems already built, this L1-native platform could become a major disruptor once it goes live.

Anatoly Yakovenko, a co-founder of Solana, quietly announced that he’s working on a new perp DEX. The project, called “Percolator,” will be L1 native to the SOL blockchain.

While the perp DEX market keeps growing, platforms like Aster and Hyperliquid are competing fiercely for dominance. A new wild card like Percolator could seriously disrupt the equation.

Solana’s New Perp DEX

Solana has recently been losing a little ground in the meme coin sector, but its recent successes in infrastructure investment show that it’s prepared to expand to new markets.

This morning, one Solana co-founder quietly announced that he was working on Percolator, a new perpetuals DEX native to the SOL blockchain.

Anatoly Yakovenko, the co-founder in question, doesn’t have a huge social media presence, so he only publicized this via GitHub.

However, the corresponding page reveals a lot of information about this Solana DEX. It’s a little hard to parse all the raw code, but he also shared a text file summing up Percolator’s development.

Although a few key steps like account validation, position closure, funding rate updates, and more remain uncompleted, Yakovenko has already finished many core data structures and capabilities. Percolator may begin serious stress-testing soon, depending on future progress.

Disrupting the Market

So, how could a Solana perp DEX impact the crypto market? Perp DEXs are a rapidly growing market, and that’s bringing new competition.

Aster, a CZ-backed project, recently displaced Hyperliquid’s market share, but then suffered several major setbacks. Hyperliquid, for its part, is determined to regain its upper hand.

A new contestant, however, could become a total wild card:

new perp dex on solana incoming.let's get this straight* there’s hyperliquid.* then there's next hyperliquid i.e lighter.* then there's hyperliquid’s competitor on bnb chain is aster.* and now, hyperliquid and aster’s competitor on solana is percolator.Interesting times

— Arunima Ganguly (✧ᴗ✧)

In other words, there might be a major disruption in the future. If the perp DEX market keeps growing without a clear leader, a new L1 from Solana could make a big splash.

That all depends on Percolator’s technical features and the timing of its launch, but the project is worth keeping an eye on.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Monero’s reputation for privacy faces challenges from modular competitors and evolving regulations

- Monero (XMR) nears $400 as privacy-focused crypto gains traction amid evolving market demands for modular solutions. - Emerging rivals like Solana's GhostwareOS and Zcash challenge Monero's dominance with interoperable privacy features. - Regulatory pressures, including South Korea's expanded AML rules, heighten scrutiny on privacy coins despite their anti-surveillance design. - Analysts highlight Monero's "extreme privacy" legacy but note growing adoption of integrated privacy tools in active blockchain

Bitget-RWA2025/11/28 11:18
Monero’s reputation for privacy faces challenges from modular competitors and evolving regulations

As Crypto Markets Fluctuate, BI DeFi's Eco-Friendly Cloud Approach Draws Growing Attention from Institutions

- BI DeFi launches a blockchain-powered cloud computing platform combining renewable energy and advanced security to stabilize crypto market risks. - XRP's $180M inflow highlights growing institutional interest in digital assets despite broader market volatility and billions in sector outflows. - The platform's green energy data centers and automated yield settlements address ESG priorities while reducing blockchain's carbon footprint. - User-friendly features like $17 introductory contracts and $50K affil

Bitget-RWA2025/11/28 11:18
As Crypto Markets Fluctuate, BI DeFi's Eco-Friendly Cloud Approach Draws Growing Attention from Institutions

FDV's Dilemma: Assessing Opportunity While Concealing Risk

- FDV (Fully Diluted Valuation) has become a 2025 key metric for evaluating crypto projects' long-term risks and scalability, especially for new layer-1 blockchains like Monad and Apertum. - Monad's $3.9B FDV despite 12% unlocked supply highlights "low float, high FDV" dynamics, while Apertum's 1.05x FDV-to-market cap ratio signals minimal dilution risk. - Critics note FDV's limitations, including price volatility assumptions and irrelevance for uncapped supply projects like Ethereum , requiring contextual

Bitget-RWA2025/11/28 11:18
FDV's Dilemma: Assessing Opportunity While Concealing Risk

Switzerland Delays Crypto Information Exchange Pending International Coordination

- Switzerland delays crypto tax data sharing with foreign nations until 2027, citing unresolved CARF partner agreements. - The OECD's 2022 framework requires member states to exchange crypto account details, but 75 countries including the EU and UK face implementation challenges. - Transitional measures ease compliance burdens for Swiss crypto firms while awaiting finalized international data-sharing protocols. - Major economies like the U.S., China, and Saudi Arabia remain outside CARF due to non-complian

Bitget-RWA2025/11/28 11:02
Switzerland Delays Crypto Information Exchange Pending International Coordination