Solana Labs co-founder and CEO Anatoly Yakovenko is working on a new decentralized exchange (DEX) project called Percolator, a high-performance protocol designed for trading perpetual futures directly on the Solana blockchain.
According to documentation shared on GitHub on October 19, Percolator is described as an “implementation-ready” on-chain, self-custodial perpetual futures DEX. The platform aims to offer users full control of their assets while delivering the speed and efficiency Solana is known for.
aeyakovenkoOne of Percolator’s standout features is its unique “slabs” architecture — separate order books for different tokens. Each slab functions as an independent, self-contained matching engine. This design allows liquidity providers (LPs) to compete across multiple smaller order books, rather than sharing a single, global one.
Yakovenko explained that this structure enhances both security and performance. By isolating slabs, the system ensures that bugs or malicious activity in one order book cannot affect others. Meanwhile, a Router program coordinates between slabs, providing “atomic routing, portfolio netting, and capability-scoped safety.” In simpler terms, users can efficiently manage their positions, collateral, and overall portfolio without sacrificing decentralization or execution quality.
While Percolator’s core components — including the Router, Slab system, memory pools, and order book logic — are already completed, several elements such as the liquidation engine remain under development. The GitHub repository also shows contributions from multiple developers, suggesting that active testing and refinement are underway.
aeyakovenkoAlthough there’s no official launch date yet, the project appears to be moving quickly through its build phase. If successful, Percolator could represent a major step forward for decentralized derivatives trading, bringing traditional exchange-level performance to a fully on-chain environment.
