Sharded Engines, Parallel Order Books

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New on-chain perps DEX: Solana co-founder Anatoly Yakovenko is constructing Percolator , a self-custodial perpetuals alternate on Solana. Efficiency-first design: Percolator introduces “sharded matching engines” and token-specific “slabs” to route orders in parallel whereas maintaining portfolio margin netting. Construct standing: Core knowledge buildings (Router, Slab, order e-book/mempools) are documented as implementation-ready on GitHub; liquidation logic and different modules stay on the to-do record. Open-source exercise factors to a brand new high-performance perp DEX brewing on Solana. Named Percolator , the protocol is being designed by co-founder Anatoly Yakovenko as a completely on-chain, self-custodial alternate with an identical structure tailor-made for Solana’s parallel execution mannequin.

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What Percolator Is and Isn’t Percolator goals to be a decentralized perpetual futures alternate the place customers custody their very own collateral and handle positions totally on chain. The design facilities on two packages:

Router: The portfolio mind, tracks positions, calculates portfolio margin, manages collateral, and executes atomic routing throughout markets. Slabs: Unbiased, token-scoped order books that compete for circulate and might evolve with out breaking the remainder of the system. In contrast to monolithic DEXs that use a single matching engine for all markets, Percolator intends to distribute order-matching throughout many “slabs” and let the Router sew person intent along with atomic settlement .

How the Structure Works Percolator’s structure is optimized for parallelism and fault isolation , key to sustaining excessive throughput on Solana.

Sharded Matching Engines and “Slabs” Sharded engines: Every slab acts like a small, impartial matching engine devoted to a particular market or asset. These engines can run in parallel , boosting throughput and decreasing competition throughout busy intervals. Selective routing: The Router seems throughout slabs to internet portfolio publicity and route orders atomically, concentrating on execution high quality whereas preserving account security constraints. Blast-radius management: As a result of slabs are remoted, a buggy or malicious slab can not contaminate customers who by no means interacted with it; the Router’s functionality scoping limits cross-component danger. Capital effectivity: The docs are pursuing collective capital effectivity on par with that of a single engine, sometimes with improved value discovery on account of aggressive slabs combating for order circulate. Self-Custody, Margin, and Threat Controls Percolator is self-custodial by design: customers deposit collateral on-chain and commerce by way of the Router. The design goals at:

Portfolio margining: Setting off lengthy/brief publicity throughout markets for essentially the most environment friendly use of collateral. Clear state: The token positions, balances and PnL are all on-chain which makes it auditable and composable with different Solana programmes. Deterministic settlement: Atomic routing ensures that both all legs of a transaction are profitable or none, stopping partial fills and violations of margin necessities. What’s Constructed vs. What’s Subsequent In response to the general public repository documentation:

Accomplished/implementation-ready: Core knowledge buildings (Router and Slab), reminiscence swimming pools, order e-book scaffolding, and first operations. Excellent gadgets: Liquidation engine, some danger and monitoring modules, and end-to-end integrations nonetheless excellent. Neighborhood exercise: At the very least two exterior contributors have made pull requests, indicating early developer curiosity. There may be no public launch date . The repo suggests the design has progressed past the whiteboard stage, however closing elements (particularly liquidations ) should be completed and examined earlier than a protected mainnet debut.