PERC

What is a Sharded Perpetual Exchange and why is @toly architecture revolutionary? 🧵Thread below

I don’t think lot of people understood this😭 What daddy Toly is aying is he suggests a memecoin setup where people gamble on a coin using the same coin as collateral. The trading market has no admin and can’t be changed or shut down. Trading fees go into a permanent insurance fund that locks up the memecoin forever. (He doesn’t need the fees) Those locked coins aren’t destroyed, but they can’t be sold, so supply slowly goes down. The idea is that gambling activity could reduce supply and possibly help the memecoin’s price. It’s experimental and only on dev net😭

@crypto_Prophet3 Will do!

@dexpercolator some mod is deleting all the posts check up on that

Thread dropping soon🧵👀

sov = percolator inverted market for the memecoin, so it’s backed by the memecoin + burn the admin key. The insurance fund will grow indefinitely from fees and will effectively be a soft burn. github.com/aeyakovenko/pe…

back to lives got alot of work done today, updated all the programs with new data from the new code and new logic still a few bugs going to work of live, will be back live tomorrow x.com/dexpercolator/…

perps wen?

Thank you - CLI commands: trade, deposit, withdraw, init-market, keeper-crank, etc. - ABI encoding/decoding for Solana instructions - Scripts for devnet testing, crank bot, random traders - Comprehensive test suite (market boot, trading, liquidation, etc.) #diff-1c2b35c4170d3112da4df6802cde58f5c15ee67161e5d352d88e19ed2e569108" target="_blank" rel="nofollow noopener">github.com/HaidarIDK/PERC…

now that toly is finishing up on the logic and structure, which i was looking forward to to be honest i could have done the backend and kani proofs, testing and account logic my self but i wanted it to be @toly main logic and sop it would be as natural and good as possible so while i was waiting for that i worked on other things such as testing programs and looking into his commits and working on frontend, understanding what his vision is but now as he is finishing up the main logic i will get back to updating he programs, api's etc. and connecting it all so people can test out what sharded perpetual trading is like, reminder i will keep it testnet or "devnet" as this is the involves the least amount of risk for the user and tester at this stage as the programs are still being worked on by toly and there may be some proofs missing or small bugs, this will ensure no one looses real money once all testnet programs are cleaned up and updated/bugfree we can move to the next phase i will keep every one updated in the community so make sure to join it x.com/i/communities/… let me know if any one has any questions will answer them when if find the time

bear with me im still kind of rust from the holidays but for now i fixed the reserve phase now it signs and sends the reserve txs on solana also made it so that the api gets called to commit transaction then signs it and sends it and fixed the record on the trade github.com/HaidarIDK/PERC… next tweet i will explain the plan from here

would appreciate if people can send me DEVNET SOLANA need it for testing and programs 7Mz9TLcDqzUuNhfhK3BcpsCieSGqkLdA8JzejSdLhbXe faucet.solana.com

Time Has Come @toly has set the framework in stone and now it is time for us to use his framework and logic and make it REAL

@mert Might be feature complete, i think github.com/aeyakovenko/pe… github.com/aeyakovenko/pe… github.com/aeyakovenko/pe… github.com/aeyakovenko/pe…

🎯🎯🎯

Pretty cool. Wen perps?

@toly i think it might be because Claude is doing the commits so u prob just need to configure git credentials thanks boss

yo @toly any chance you could fix your git commit author email? seeing the grey avatar is triggering my dev OCD my brain wants a clickable profile 😅

Happy new year to everyone

@solana 👀👀👀