jakiro
Author: Haotian; Source: X,@tmel0211
I have written and analyzed before that Perp Dex will definitely break out in the @solana ecosystem.No, @aeyakovenkoAn unexpectedly exposed Github repository, a sharded perpetual contract protocol framework called Percolator, has become the focus of attention:
1) Its architectural innovation is to split the order book into multiple shards for parallel processing., including, Router global scheduling and margin management + Slab independent matching engine.In addition, high-frequency transaction optimization and risk control design are also adopted. For example, a reserve-commit two-stage execution mechanism is used to prevent MEV attacks.
Interestingly, when Toly interacted with others in the comment area, he also mentioned that a prop AMM competition experiment mechanism may be introduced to allow LPs to independently customize the matching engine and risk parameters.
2) Surprisingly, it was originally thought that Solana’s way of entering the Perp Dex competition would be to support emerging Perp Dex in the ecosystem such as @DriftProtocol, @pacifica_fi, @bulktrade, etc., but it has been elevated to the strategic level of Solana’s official laboratory.visible,How eager Solana is to continue the Perp Dex craze.
3) The logic behind this is clear, in my opinion,Perp Dex is a track that can combine the three characteristics of high frequency, high leverage and large volume at the same time..Solana has been polishing Alpenglow consensus, Firedancer client and other performance optimizations for more than a year, and can withstand large-volume peak transactions such as Meme Season.Now is the best time to integrate this set of infrastructure capabilities into the Perp Dex scenario to detonate it..
Moreover, the imagination space of the verifier layer optimization, as well as @doublezero’s further optimization of network bandwidth, etc., are all increasing Solana’s performance upper limit.@jito_sol has also proven that professional optimization at the verifier layer can run smoothly.In terms of technical basis,It is not a problem to grow a Hyperliquid-level Perp Dex in the Solana ecosystem..
4) Perhaps mentioning this, core executives such as Toly and @calilyliu must be very angry. With Solana’s excellent infra foundation, how can we let Aster, Lighter and other projects that are unclear whether they are mules or horses be too showy?
The key is that Perp Dex, which is now driven behind the scenes by the exchange camp, has many problems such as false wash volume stimulated by airdrops, the unsustainability of trading as mining, and the lack of real high-frequency trading demand, etc., which gave Solana a reason to jump out and cut it off.
5) With the basic layout of U.S. stock tokenization and ICM’s long-term layout in the Internet capital market,Solana has the opportunity to give Perp DEX infrastructure an application scenario that can truly undertake the trading needs of traditional financial assets, rather than just staying at the level of crypto-native asset trading..
Imagine: after the U.S. stocks are tokenized, users can directly open leveraged long and short positions on Tesla and Nvidia on Solana, with SOL or stablecoins used for settlement, and transaction fees flowing back into the ecosystem.Is this narrative of “Nasdaq on the chain” much higher than simply speculating on the perpetual contracts of BTC, SOL, and ETH assets?
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Next, let’s see how the Perp Dex counterattack on Solana performs!
