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The Solana Dex ecosystem is heating up again, and not just from the West. As Solana Labs quietly builds Percolator, a next-gen decentralized perpetual exchange to rival Hyperliquid crypto and Aster dex, Justin Sun’s SunPerp is making bold moves in the East.
Backed by TRON crypto and supported by a massive $200M trader recovery fund, SunPerp’s rapid multi-chain expansion and Chinese-market focus have turned it into the stealth player few saw coming.
Together, these launches mark a new phase in the global battle for decentralized derivatives dominance, one that could define the future of on-chain leverage trading.
Is Percolator the Solana New Weapon in Dex Wars?
The Solana blockchain, long known for its speed and scalability, is making another ambitious push into decentralized finance. Solana Labs’ co-founder Anatoly Yakovenko recently unveiled technical plans for Percolator, a decentralized perpetual DEX built directly on
0.70%
. Designed for performance and self-custody, Percolator introduces “shared matching engines”, meaning separate liquidity slabs can process orders in parallel, reducing network congestion while maintaining global price consistency.
🔥 LATEST: Solana founder Anatoly Yakovenko is building a new perp DEX called Percolator. pic.twitter.com/3xKTFqL2LI
— Cointelegraph (@Cointelegraph) October 20, 2025
In short, every market runs on its own lane, but a single router ensures atomic settlement and margin safety. This could solve one of DeFi’s most significant problems – bottlenecks in on-chain order matching. Percolator’s design already has working code on GitHub, with data structures and order-book logic completed.
While no launch date has been set, the project represents Solana’s most precise shot at reclaiming dominance from Hyperliquid, whose recent 30-day trading volume hit $313Bn, according to DefiLlama.
(Source – defillama)
If Percolator DEX launches smoothly, it could become the first Solana Dex to challenge centralized exchanges on speed and liquidity head-to-head.
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Can Justin Sun’s SunPerp Outshine Solana’s DeFi Push?
While Solana builds its DEX from the ground up, Justin Sun’s SunPerp has taken the opposite route – expanding rapidly through capital and community power. On October 15, 2025, SunPerp doubled its trading depth and announced a massive $100M “Sail Together” fund, co-financed with HTX, to compensate traders hit by recent market crashes. Bonuses range from 5 USDT to 5,000 USDT, open to users from any exchange, making this one of the most significant relief funds ever launched by a DeFi project.
$100 Million “Sail Together” Initiative Now Open for Registration!
Register Now: https://t.co/u06UHKpb27(or scan the QR code) pic.twitter.com/hn3OIoR4f9
— SunPerp (@SunPerp_DEX) October 16, 2025
SunPerp has also integrated TRON, Ethereum, BNB Chain, and Arbitrum, promising to add two more blockchains each week. Its new multi-stablecoin trading allows users to open perpetual positions in USDC and USDD, enhancing liquidity flexibility.
Technical data shows market depth doubling across BTC and ETH pairs (up ~250%) while SunPerp maintained full uptime during October’s volatility. With ultra-low fees (up to 55% off), 12% APY auto-earn, and upcoming Trade-to-Earn incentives, the DEX is quietly positioning itself as the Chinese-language market’s flagship perpetuals platform.
(Source – sunwukong)
Analysts call SunPerp the “Sun Perp Effect”: a DEX designed to bridge Asian liquidity with Western leverage demand, a move that could reshape derivatives trading entirely.
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Who Wins the DEX Race – Solana’s Percolator or Sun’s SunPerp?
The Solana DEX landscape and the Chinese DEX expansion are converging into the same arena, one defined by performance, depth, and multi-chain reach. Solana’s Percolator is building trust through open-source innovation and high-speed architecture, while SunPerp is executing with aggressive growth, funding, and inclusivity.
But here’s the twist: SunPerp’s immediate liquidity and user-centric design could give it a real-world advantage long before Percolator fully launches. Meanwhile, Solana’s technological edge may ensure it wins in the long run if it can sustain developer momentum and integrate cross-chain support.
In this battle of Solana Crypto vs. SunPerp, both sides are redefining what a modern decentralized derivatives exchange looks like. Whether you’re a Solana maximalist or a TRON believer, one thing is clear – the perp DEX wars are just beginning, and global traders are the ultimate winners.
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Key Takeaways
Solana announced their DEX response to Hyperliquid.
Justin Sun joins the war with SunPerp.
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