Solana’s Percolator Poses Structural Threat to Aster’s Hold on Decentralized Perpetuals

Solana’s Percolator сould upend DEX derivatives ￰0￱ integration into Solana’s Layer 1 gives the upcoming perpetual exchange a structural advantage over Aster and other application-layer ￰1￱ is preparing to launch a new decentralized perpetual exchange protocol that could upend the competitive landscape for on-chain ￰2￱ upcoming platform, called Percolator, is being developed directly on Solana’s Layer 1 and represents the network’s most ambitious attempt yet to integrate a high-performance trading system at the base protocol ￰3￱ a rapidly evolving landscape where focus and narratives constantly shift, timely interventions and sustained visibility are ￰4￱ is why data-driven agencies like Outset PR go beyond merely tracking token prices; they also monitor the wider media ￰5￱ Data Pulse delivers current intelligence on crypto media performance, significantly enhancing the effectiveness of PR ￰6￱ for On-Chain Perpetuals Solana co-founder Anatoly Yakovenko outlined the plan for Percolator in a GitHub ￰7￱ protocol will consist of two main on-chain programs: the Router, which manages collateral, portfolio margins, and cross-slab routing; and the Slab, a perpetuals engine operated by liquidity providers that performs matching and settlement ￰8￱ existing decentralized exchanges built on secondary layers or rollups, Percolator will run natively within Solana’s infrastructure, taking advantage of the blockchain’s 65,000 transactions per second throughput and $0.0001 average transaction ￰9￱ effect, Percolator will function as a sharded, high-speed perpetual futures exchange, enabling traders to speculate on crypto prices without expiration ￰10￱ successful, it could make Solana the first Layer 1 blockchain to host a fully integrated derivatives venue at ￰11￱ Advantage Pressures Aster The timing poses a direct challenge to Aster, one of the leading decentralized perpetuals platforms.

Aster’s model — once differentiated by its first-mover advantage — now appears increasingly constrained by architecture and liquidity ￰12￱ market signals suggest traders are repositioning ahead of Percolator’s debut. Aster’s daily active users fell 22% this week, while key indicators of platform health have deteriorated sharply: Total value locked declined from $1.805 billion to $1.479 billion, an 18% drop over seven days, according to ￰13￱ volume collapsed from $805 million to $78 million, a 90% ￰14￱ interest dropped from $3.2 billion to $1.37 billion, down 57%, reflecting reduced trader conviction and liquidity depth.