Solana co-founder Anatoly Yakovenko has sparked discussions in the decentralized finance (DeFi) sector by encouraging developers to “borrow” his concept for a new perpetual futures decentralized exchange (DEX).
In an October 20 post on X, Yakovenko shared that he has been working on a prototype called “Percolator,” aided by the AI tool Claude.
Percolator Prototype and Open-Source Development
His remarks, along with an inadvertent upload of related code to GitHub, have attracted considerable attention, exposing the friction between open-source collaboration and intellectual property rights.
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Percolator is designed as an on-chain perpetual futures DEX operating on the Solana blockchain. It oversees position tracking, collateral management, and margin calculations directly on-chain. The protocol utilizes a “slab” framework—a sharded matching engine that segregates order books by token. This architecture aims to enhance execution speed and mitigate contagion across markets.
Yakovenko’s suggestion to “steal the idea” has been seen as an experiment in open innovation. His challenge to replicate the idea appears to explore whether the competitive dynamics of automated market makers (AMMs) in spot trading can also apply to perpetual markets. The GitHub repository indicates that the project is still in its early stages; while the routing system is operational, liquidation modules are still being developed.
Mixed Community Reactions and Ethical Questions
The DeFi community reacted quickly. Yearn Finance founder Andre Cronje humorously remarked, “Didn’t read. Aped. If I lose my money, I am blaming you,” showcasing early excitement. Developer @rinegade_sol commented, “I’ll cook it,” signaling a willingness to build independently, while others contributed suggestions like incorporating AI-readable examples into the documentation.
ill cook it oki, i actually was about to start working on own onchain perps implementation, but would prefer to learn more from your ideas and experiment on it over time!
here almost finished new terminal from scratch for any perp/dex/amm on solana: pic.twitter.com/JiGG5YOy3S— rinegade (svm/acc) (@rinegade_sol) October 20, 2025
While many perceive Yakovenko’s approach as aligned with Solana’s hackathon-driven, collaborative culture, others caution that blurring the distinctions between open-source and intellectual property can lead to conflicts over commercialization or profit-sharing. If another team were to monetize Percolator’s concept, questions surrounding ownership and acknowledgment could arise.
This initiative also emphasizes Solana’s strategic position in a fiercely competitive DeFi market. With perpetual futures trading volume exceeding $210 billion in 2023, Solana’s entry into this sector could bolster its standing against established competitors like GMX and Hyperliquid.
Innovation Catalyst or Risky Experiment?
Yakovenko’s unconventional statement has rekindled conversations about open-source ethics and innovation in DeFi. By inviting the community to engage with his design, he may expedite Solana’s technical advancement while testing the limits of decentralized collaboration.
Proponents argue that this move strengthens Solana’s ecosystem by motivating developers to create more effectively with AI-assisted tools. Critics, however, contend that it exposes the protocol to imitation without ensuring sustainable governance or incentives.
Whether Percolator evolves into a community-driven success or serves as a cautionary tale, this situation highlights how innovation in Web3 increasingly relies on open, collective experimentation. For now, all attention is directed at Solana’s GitHub repositories—where the next chapter of DeFi might be unfolding.
