Solana is about to replace its entire consensus. Finality drops from 12.8 seconds to ~150 milliseconds.
I have been testing Alpenglow on the community cluster since its first genesis - so I wrote the longread I wish existed: what changes, why it matters, and how it looks from the inside.
https://t.co/hYW0rJ9Ije
@HyperliquidX
$100 invested at $1 million MC → ≈ $1,234,000 today at $12 billion
@PercolatorTrade
$1,000 invested at $1M MC → $5,000,000 to $5 billion MC
Why it can go much higher: @PercolatorTrade is attacking the same huge perpetual market as @HyperliquidX, but with a different approach: making perps markets permissionless on Solana tokens. If the engine holds which I remember was built by @toly, that liquidity follows and adoption arrives, it can become a major infrastructure of the ecosystem. One day reaching a valuation comparable to @HyperliquidX is a possible scenario not a certainty - but the market potential exists.
In a market where thousands of tokens promise to revolutionize AI, memecoins or the next narrative of the moment, Percolator takes a much more pragmatic approach: solving a problem that traders encounter every day.
Today, if a new token explodes on Solana, investors usually have two options: buy... or do nothing. Unlike large cryptocurrencies, the majority of SPL tokens do not have any derivatives market to sell short, hedge or provide liquidity on a perpetual market.
It is precisely this gap that @PercolatorTrade seeks to fill.
Turn any token into a perpetual market
The idea is simple but ambitious: to allow the creation of perpetual markets (perpetual futures) on virtually any SPL token, without depending on the goodwill of a centralized platform.
The goal is to make these markets permissionless, i.e. accessible without a central team deciding which assets deserve to be listed.
In theory, a creator could launch a token, then quickly open his own perpetual market so that other users can take long, short positions or provide liquidity.
This approach brings Percolator closer to a financial infrastructure than to a simple trading protocol.
A risk engine developed by @toly
One of the most attention-grabby aspects is the involvement of Anatoly Yakovenko (“Toly”), co-founder of Solana, in the development of the risk engine used by the protocol.
Public GitHub repositories show several months of work on this software brick, with many improvements in security, liquidation management and mechanisms that prevent certain attack vectors.
@PercolatorTrade developers also publicly stated that this engine is currently being externally audited. To date, however, the audit firm has not yet been publicly announced.
A philosophy close to Hyperliquid
Many already compare Percolator to Hyperliquid.
The comparison is not about the exact technology, but about philosophy.
Hyperliquid has profoundly changed the derivatives market by offering a particularly effective user experience.
Percolator seeks to bring a different innovation: to open this type of market to much more assets, including native Solana tokens that today have no derivative market.
If this approach works, it could create a new layer of infrastructure for the ecosystem.
A potentially self-reinforçant model
The protocol is based on an interesting economic idea.
The more a market is used, the more fees it generates.
Active markets can attract more liquidity providers.
Better liquidity then improves the experience of traders, which in turn can attract more volume.
This dynamic is often called flywheel liquidity.
One thing that's easy to miss if you're not actually in percolator's discord:
they're not doing a hype drop or a giveaway raffle for those solana seeker phones. it's contribution based.
that's a different kind of campaign than what most projects run. you can't just show up and post a meme once and hope for the best.
the devnet v2 rebuild backs that up too. wallet approvals went from 14 down to 3, market launch time went from a minute down to thirty seconds. that's an actual product change people using it can feel immediately.
four phones left. one a month. the bar is real work.
Careful on $PERCOLATOR if you're looking at the migration. Top 10 holding 66.3% and bundlers only hold 0.0% of the supply. Bot degen rate is also pretty high at 66.2%.
Rug ratio score is sitting at 2%. Looks cleaner than most.
CA:
vxVQk3djj8aj3uytnqWFF6ktpBj1i8ftdiytjgrpump
⚡️Quick Buy⚡️: https://t.co/F8tB6kqtBz
@phantom@MustajirPL Fun fact, you can join the Percolator Trade Waitlist using your phantom wallet or email..
And SOON you can connect it, and play around on the “playground” devnet V2
Expierence what it’s like as a trader, as a market maker or as a liquidity provider.
https://t.co/khxxdmfeL7
$BTC zone at $63,100: wicked 1 time recently.
Force score: 1.84 (highest active level below spot).
That's where long SLs are located. Wicks like this often signal something more.
We've spent the last couple of weeks rebuilding big parts of the UI/UX and finally adding more to the creator side so people can get the most out of Percolator Trade Devnet V2
Quick tour of what's new 🧵
@blknoiz06@0xgilbert@solana Right now, we have a perp market on Devnet for solana:9cRCn9rGT8V2imeM2BaKs13yhMEais3ruM3rPvTGpump we’ve been using to test on
Pretty cool 🤷♂️ @blknoiz06
i have been working on the frontend
whole market launch is now only one wallet approval. market, LP, liquidity, insurance, stake vaults, keeper feed, all batched
40 seconds to a live perps market on any token
"launching a perp market" wasn't even a thing you'd think about before
Happy to announce that both our co-founders have been accepted and are officially registered for Castle DAO! @cstldao
Accomidations ✔️
Registered ✔️
Flights booked ✔️
Percolator Trade is going to Ireland! 🇮🇪🏰
We are excited for the opportunity to work together in person and around other builders building on the @solana ecosystem, to be able to learn from great mentors, the opportunity to grow our network, and really just lock in on building . 🔒☕️
@SuperteamCAN@SuperteamUK@superteamIE
Mainnet Watch is now live on $VISION
We upgraded the old Scanner into a clearer readiness board for #percolator forks and integrations.
We also ran a full scan across the listed program IDs.
Current standout: @PercolatorTrade - Mainnet Candidate
We also added a new category: Engine Integrated
This covers projects like @openperpsdotfun : devnet live, built around the Percolator risk engine, but not exposing canonical PERCOLAT slab accounts under the app program.
Cleaner signal for the @toly Percolator engine ecosystem.
https://t.co/mfgDMVRWMg