Solana’s co-founder, Anatoly Yakovenko, has quietly started building a new perpetual futures decentralized exchange, with early documentation now live on his GitHub page. The project has not been formally announced, but the public code already outlines the framework for what looks like a fully on-chain perps protocol.
Under the GitHub handle “aeyakovenko,” the repository includes early design files, showing that Solana could soon expand deeper into the world of derivatives trading. The structure and language in the documentation make it clear that this DEX is being tailored specifically for Solana’s fast and scalable architecture.
Inside the Code: A Peek at the Moving Parts
The GitHub files outline several key components that sit at the core of the DEX. These include systems for managing margin, handling liquidations, adjusting funding rates, and processing trades through an on-chain matching engine. Each part is designed to take advantage of Solana’s parallel processing abilities, which allow transactions to be executed simultaneously rather than one at a time.
Rather than copying existing Ethereum-based perps DEXs, this new design leans into Solana’s Sealevel runtime. That’s the tech that lets Solana run many contracts in parallel, and it’s being used here to create a more scalable and cost-efficient platform from the ground up.
Why Solana Might Be Stepping Into Derivatives Now
Perpetual futures are a massive part of crypto trading, and most of the action right now is happening on other blockchains. If Solana can launch a homegrown perps DEX that is fast, cheap, and fully integrated into its existing DeFi ecosystem, that could bring new momentum and fresh users into the network.
Oh man, I now know @AndreCronjeTech’s pain.
I am just messing around with Claude to see how well it can generate Pinocchio and test with surfpool.
Pls steal the idea. I want to see if it’s possible to replicate the same prop-amm competition for spot but for perps.
1) a… https://t.co/obTeEFVUrD
— toly 🇺🇸 (@aeyakovenko) October 20, 2025
It would also give traders who already use Solana more tools to stay on the platform, while attracting developers who want to build more advanced trading products. If the design holds up in practice, it could bring higher volumes and spark more innovation in Solana’s DeFi sector.
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Early Stages Bring Big Questions
Even with public code already online, the project is clearly in its early days. Building a derivatives platform is no small task. It involves not just code, but also risk management systems, price oracles, regulatory questions, and robust liquidity. Yakovenko and any collaborators will need to address each of these before the DEX can go live.
There’s also the matter of when users can expect to see it in action. No testnet dates or timelines have been shared. The documentation lays out the vision, but the bigger challenge lies in translating that vision into something traders will trust and use.
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What This Means for Solana’s Broader Game Plan
This move could reflect a bigger push by Solana into advanced financial products. The network has already built strong communities around NFTs and payments, but adding derivatives into the mix could position Solana as a more complete blockchain for modern finance.
Launching a perps DEX would show that Solana is serious about building not just consumer apps but also core trading infrastructure. If this project matures, it could boost the chain’s appeal to pro traders, liquidity providers, and other serious players in the space.
What to Watch for in the Coming Weeks
As always with open-source projects, GitHub can offer early signs of progress. New commits, updates to the architecture, or signs of external collaboration will all be important to follow. Community involvement, liquidity incentives, and upcoming governance plans will also shape how quickly the project evolves.
Whether this perps DEX becomes a standout feature in Solana’s ecosystem or just a side experiment will depend on how solid the launch is, how secure it proves to be, and whether it finds real traction in a competitive derivatives market. For now, what’s clear is that Yakovenko is building, and the rest of the crypto world is watching.
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Key Takeaways
- Solana co-founder Anatoly Yakovenko has quietly started building a new on-chain perpetual futures DEX, with early documentation posted on his GitHub.
- The GitHub files reveal systems for margin, liquidations, and funding rates, all optimized for Solana’s parallel processing architecture.
- If successful, this perps DEX could expand Solana’s DeFi ecosystem and attract traders who currently use Ethereum-based derivatives platforms.
- No launch date or testnet timeline has been announced, suggesting the project is still in its early development phase.
- The move shows Solana’s ambition to evolve beyond NFTs and payments into deeper financial infrastructure for professional traders.
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