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 ($138.32) 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:

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.

The post Solana Co-Founder Is Launching a New Perp DEX To Rival Aster and Hyperliquid appeared first on BeInCrypto.