Solana's Anatoly Yakovenko Building 'Percolator' Perpetuals DEX

Solana co-founder Anatoly Yakovenko is quietly building one of the most technically ambitious DeFi perp DEXs: a fully onchain, sharded exchange called Percolator. The project is “implementation-ready” and ready for native deployment to Solana.

What’s the Scoop?

• Implementation-Ready: Yakovenko has published the “implementation-ready” technical design documents for Percolator to GitHub. The documentation details a complete blueprint for Percolator, and is intended to be directly actionable for engineers and reviewers.
• Sharded Matching Engines: At the core of Percolator is a sharded model, with multiple independent “slabs” that each operate as self-contained perpetual engines. These slabs run in parallel, boosting throughput while allowing LPs to innovate independently within defined safety boundaries.
• Router-Layer Portfolio Margining: A global Router program aggregates collateral, manages portfolio margin, and coordinates execution across slabs. It prevents over-debiting via "capability-scoped escrow" and guarantees atomic routing between multiple LPs in one transaction.
• Yakovenko’s Vision: “This design keeps each LP’s slab fully self-contained and innovable,” Yakovenko wrote. “Aggregate capital efficiency matches a monolithic DEX — often with better execution quality via selective routing.”