Solana Co-Founder Launches New Perpetual DEX in Bid to Challenge Aster and Hyperliquid

Jakarta, Pintu News – Solana (SOL) is showing its innovation in the crypto world once again with the latest announcement from one of its founders, Anatoly Yakovenko. The project, named“Percolator“, is a perpetual derivatives exchange (perp DEX) that will operate directly on the Solana blockchain.

With the perp DEX market continuing to grow, Percolator’s presence is expected to bring new competition that can change the market dynamics that have been dominated by Aster (ASTER) and Hyperliquid (HYPE).

Percolator: DEX Perpetual Solana

Anatoly Yakovenko, who is not widely known on social media, chose GitHub as the platform to announce his latest project. Although it is only code and development notes, the information available is enough to show the great potential of Percolator.

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Some key functionalities such as account validation and position closing are still under development, but the core data structures and some capabilities have been completed. This indicates that Percolator may soon enter an intensive stress testing phase. Percolator is not just a new DEX perp, but also a platform designed to be optimized on the Solana blockchain.

With a focus on speed and efficiency, Percolator has great potential to attract users who require fast transactions and low fees. This is especially relevant given the market trends that continue to increase demand for efficient and economical transactions.

The Growing Perp DEX Market

The perp DEX market has shown significant growth in recent years. Platforms such as Aster and Hyperliquid have been key players, but both have had their ups and downs in maintaining market share.

In July, Hyperliquid captured 35% of all blockchain revenue, with growth stemming specifically from the declining market share of Solana, as well as Ethereum (ETH) and BNB Chain, according to a monthly crypto recap report from VanEck researchers.

“Hyperliquid has managed to attract high-value users from Solana and retain them,” VanEck’s head of digital asset research Matthew Sigel wrote alongside analysts Patrick Bush and Nathan Frankovitz. They added that this success was achieved by offering a simple yet highly functional product.

Hyperliquid’s trading volume hit a record monthly high of $319 billion in July, indicating that more and more crypto traders are switching to using DEXs (decentralized exchanges) rather than centralized platforms.

Its popularity has increased since April 2024, after launching spot trading with an aggressive listing strategy and user-friendly interface.

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Meanwhile, its competitor, Aster’s DEX launched on Binance’s BNB Chain network, has surpassed Hyperliquid as the largest derivative DEX (perp DEX), with a daily trading volume of $14.5 billion – almost three times Hyperliquid’s 24-hour volume.

Nevertheless, Hyperliquid’s 30-day trading volume of $309 billion is still more than double that of Aster which recorded $145 billion in the past month, according to data from blockchain platform DefiLlama.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Solana Perp DEX Percolator to Disrupt Aster, Hyperliquid. Accessed on October 21, 2025
• Cointelegraph. Solana Founder Launches New Perp DEX Percolator. Accessed on October 21, 2025