Solana 的 Percolator DEX：Anatoly Yakovenko 对 Hyperliquid 的回答？

Solana 联合创始人 Anatoly Yakovenko 正在开发 Percolator DEX 以重新夺回交易量。这篇博文深入探讨了潜在的影响。

Solana's Percolator DEX: Anatoly Yakovenko's Answer to Hyperliquid?

Solana 的 Percolator DEX：Anatoly Yakovenko 对 Hyperliquid 的回答？

Solana co-founder Anatoly Yakovenko is developing Percolator DEX to recapture trading volume. This blog post dives into the potential impact on Solana's DeFi ecosystem.

Solana 联合创始人 Anatoly Yakovenko 正在开发 Percolator DEX 以重新夺回交易量。这篇博文深入探讨了对 Solana DeFi 生态系统的潜在影响。

The Buzz Around Percolator

Percolator 周围的嗡嗡声

Whispers turned into shouts when GitHub documentation surfaced on October 19, 2025, revealing Percolator: a perpetual DEX protocol built directly on Solana by Anatoly Yakovenko. This move looks like a direct response to the rise of platforms like Hyperliquid, which have been siphoning users and revenue away from Solana.

2025 年 10 月 19 日，当 GitHub 文档出现时，窃窃私语变成了喊叫声，揭示了 Percolator：Anatoly Yakovenko 直接在 Solana 上构建的永久 DEX 协议。此举看起来像是对 Hyperliquid 等平台崛起的直接回应，这些平台一直在从 Solana 中吸走用户和收入。

Why Now? The Hyperliquid Effect

为什么是现在？超液体效应

Hyperliquid snagged a significant chunk of blockchain-generated revenue, attracting “high-value users from Solana” with its streamlined trading experience. With perpetual futures DEX volumes reaching record highs, Yakovenko seems determined to reclaim Solana's stake in this lucrative market.

Hyperliquid 凭借其简化的交易体验吸引了“来自 Solana 的高价值用户”，占据了区块链产生的很大一部分收入。随着永续合约 DEX 交易量创下历史新高，Yakovenko 似乎决心收回 Solana 在这个利润丰厚的市场中的股份。

How Percolator Works: A Sharded Approach

Percolator 的工作原理：分片方法

Percolator’s architecture stands out with its use of “sharded matching engines.” Imagine splitting an exchange's order book into multiple mini-engines (or "slabs") running simultaneously. This allows liquidity providers to compete while isolating risk. Think of it as a bunch of mini-exchanges running in harmony.

Percolator 的架构因其使用“分片匹配引擎”而脱颖而出。想象一下，将交易所的订单簿分割成多个同时运行的迷你引擎（或“板”）。这使得流动性提供者能够在隔离风险的同时进行竞争。将其视为一群和谐运行的小型交易所。

The system is powered by two main components:

该系统由两个主要组件供电：

• The Router program: Manages user collateral and coordinates trading.
• The Slab program: Self-contained perpetual engines operated by liquidity providers.

Development and AI's Role

发展和人工智能的作用

The core infrastructure is reportedly complete, but some pieces, like the liquidation engine, are still in development. Interestingly, Yakovenko even used Claude AI to help generate and test code, encouraging others to "steal the idea."

据报道，核心基础设施已经完成，但清算引擎等部分仍在开发中。有趣的是，Yakovenko 甚至使用 Claude AI 来帮助生成和测试代码，鼓励其他人“窃取这个想法”。

The Competitive Landscape

竞争格局

Percolator is entering a crowded arena. Hyperliquid dominates the perpetual DEX market, but faces competition from platforms like Aster. Percolator's advantage? Being native to Solana, potentially offering faster execution and lower fees.

Percolator 正在进入一个拥挤的舞台。 Hyperliquid 永远主导着 DEX 市场，但面临着来自 Aster 等平台的竞争。渗透器的优势？原生于 Solana，有可能提供更快的执行速度和更低的费用。

What This Means for Solana

这对 Solana 意味着什么

If successful, Percolator could be a game-changer for Solana, demonstrating its ability to handle complex exchange-grade workloads on-chain. It could also help Solana win back users and trading volume.

如果成功，Percolator 可能会改变 Solana 的游戏规则，展示其处理链上复杂的交易所级工作负载的能力。它还可以帮助 Solana 赢回用户和交易量。

The Road Ahead

未来之路

No launch date has been set. But with the core infrastructure in place and external developers contributing, a testnet launch could happen soon. Yakovenko’s open-source approach suggests he’s focused on showcasing Solana's capabilities.

尚未确定启动日期。但随着核心基础设施的到位和外部开发人员的贡献，测试网可能很快就会启动。 Yakovenko 的开源方法表明他专注于展示 Solana 的功能。

Final Thoughts

最后的想法

Percolator is a bold move by Yakovenko to regain Solana's footing in the booming perpetual derivatives market. Whether it can dethrone Hyperliquid remains to be seen, but Solana's tech gives it a fighting chance. Keep an eye on this one, folks – it could get interesting! After all, who doesn't love a good DeFi showdown? It's like the crypto version of a New York pizza rivalry, but with more code and fewer carbs.

Percolator 是 Yakovenko 为在蓬勃发展的永续衍生品市场中重新站稳 Solana 的地位而采取的大胆举措。它是否能推翻 Hyperliquid 还有待观察，但 Solana 的技术给了它一个战斗的机会。伙计们，请密切关注这一点——它可能会变得有趣！毕竟，谁不喜欢精彩的 DeFi 对决呢？这就像纽约披萨竞争的加密版本，但代码更多，碳水化合物更少。