Perp futures
for every Solana token.
A creator launches a leveraged market on any SPL token in 60 seconds — no team approval, no auction. Forked from Anatoly Yakovenko's open-source reference program and extended on chain with LP vault, transferable Token-2022 NFT positions, dispute resolution, and audit-crank invariants.
Not an order book.
Not a traditional AMM.
Trades execute against an on-chain LP vault using oracle-derived pricing. Two matcher modes per market — passive LP (oracle ± spread) or vAMM (virtual constant-impact). Same engine, different pricing knob.
Per-market liquidity pool — anyone deposits USDC, becomes a passive maker, earns spread + fee share. Risk isolated per market.
Open positions wrap as NFTs with a transfer hook. First transferable perpetual positions on Solana.
Resolved markets have a challenge window with a bond. Bad settlements get caught before users get drained.
Anyone can crank an on-chain invariant check. If something doesn't balance, the market auto-pauses before the bug compounds.
For tokens without Pyth coverage, the oracle reads a pinned Raydium CLMM pool's EWMA on chain. No external dependency.
422 model-checking proofs cover the H + A/K risk engine — haircut conservation, ADL fairness, funding zero-sum.
Toly's math.
Forked & extended.
Anatoly Yakovenko authored the H + A/K risk-engine math and an open-source reference program. We forked the program and extended it on chain — without the work below it'd still be a reference, not a product.
Net new in the fork: LP vault, dispute resolution, transferable Token-2022 NFT positions, a withdrawal queue, audit-crank invariant checks, two-step admin handover, DEX-pool oracle pinning — none of which exist in Toly's reference. Plus the SDK, indexer, keeper fleet, and frontend that wrap the program. Mainnet is deployed in lab mode; public trading opens after the external audit. Both co-founders won one of his public bounties.
Wallet or email.
Both get the dApp gate.
Two paths to the same list. Either connect a Solana wallet and sign once, or drop an email and verify with a 6-digit code — Privy creates an embedded Solana wallet under your email automatically, so the dApp at percolator.trade recognises you when mainnet opens either way.
Phantom · Solflare · Backpack · Jupiter
sign-only · no gas · idempotent
Both paths reach you.
Pick your inbox.
Email signups get an embedded Solana wallet from Privy automatically — so they get the dApp gate too, not just the email. Wallet signups also get the on-chain memo.
When the same wallet reconnects to percolator.trade after mainnet opens, the page unlocks priority access for that pubkey. Email signups get this too — Privy creates a Solana embedded wallet under your email at signup, so the dApp recognises you when you come back.
Your wallet receives a memo-only transaction from our project wallet when mainnet opens — visible in Phantom, Solflare, Backpack, or Solscan as an incoming tx with a short message and a claim link. No payload, no value, no token-approval prompt.
Confirmation lands instantly at signup. The next email is the mainnet-open milestone. No drips, no marketing campaigns. One email per major milestone, max.
Optional on either path. If you dropped your @handle, we'll DM you on X as a backup channel.
What you're probably wondering.
When does mainnet open?+
Why a waitlist instead of letting me trade now?+
Wallet vs email — which should I pick?+
How will I actually be notified when mainnet opens?+
Does signing cost gas?+
tweetnacl before adding you to the list.