Solana

Solana Labs Takes Aim at Perp DEX Wars: But Justin Sun’s Chinese DEX Plan Is The Secret Slice

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The Solana Dex ecosystem is heating up again, and not just from the West. While Solana Labs quietly builds Percolator, a next-generation decentralized perpetual exchange to rival Hyperliquid and Aster dex cryptocurrencies, Justin Sun’s SunPerp is making bold moves in the East.

Backed by TRON cryptocurrencies and backed by a massive $200 million trader recovery fund, SunPerp’s rapid multi-chain expansion and focus on the Chinese market 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, which could define the future of on-chain leveraged trading.

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Is Percolator Solana’s 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

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Solana

Solana





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Solana

Solana
SOL


Price

$185.06

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Volume in 24 hours


$6.49 billion



Price 7d

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. Designed for performance and self-custody, Percolator introduces “shared matching engines,” meaning separate liquidity plates can process orders in parallel, reducing network congestion and maintaining global pricing consistency.

In short: each market follows its own lane, but a single router guarantees atomic stability and margin security. This could solve one of DeFi’s most significant problems: on-chain order matching bottlenecks. The Percolator project already has working code on GitHub, with the data structures and order book logic completed.

While no launch date has been set, the project represents Solana’s closest shot at regaining dominance over Hyperliquid, whose recent 30-day trading volume reached $313 billion, according to DefiLlama.


(Source – defilama)

If Percolator DEX launches smoothly, it could become the first Solana Dex to challenge centralized exchanges head-to-head in terms of speed and liquidity.

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Can Justin Sun’s SunPerp eclipse Solana’s DeFi push?

While Solana builds its DEX from the ground up, Justin Sun’s SunPerp has taken the opposite path, expanding rapidly through capital and community power. On October 15, 2025, SunPerp doubled its trading depth and announced a massive $100 million “Sail Together” fund, co-financed with HTX, to compensate traders affected by recent market crashes. Bonuses range from 5 USDT to 5,000 USDT, open to users of any exchange, making this one of the most significant relief funds ever launched by a DeFi project.

SunPerp has also integrated TRON, Ethereum, BNB Chain and Arbitrum, promising to add two more blockchains every week. Its new multi-stablecoin trading allows users to open perpetual positions in USDC and USDD, improving liquidity flexibility.

Technical data shows that market depth doubled between BTC and ETH pairs (up ~250%), while SunPerp remained fully operational during October’s volatility. With ultra-low fees (up to 55% off), automatic 12% APY earnings, and upcoming Trade-to-Earn incentives, DEX is quietly positioning itself as the perennial top platform of the Chinese-language market.


(Source – sunwukong)

Analysts call SunPerp the “Sun Perp Effect”: a DEX designed to connect Asian liquidity with Western demand for leverage, a move that could completely reshape derivatives trading.

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Who wins the DEX race: Solana’s Percolator or Sun’s SunPerp?

The Solana DEX landscape and China DEX expansion are converging in the same arena, defined by multi-chain performance, depth and reach. Solana’s Percolator is building trust through open source innovation and high-velocity 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 edge long before Percolator’s full launch. Meanwhile, Solana’s technological advantage could ensure its long-term success if it can sustain developer momentum and integrate cross-chain support.

In this battle between Solana Crypto and SunPerp, both sides are redefining what a modern decentralized derivatives exchange looks like. Whether you are a Solana maximalist or a TRON believer, one thing is clear: the DEX crook wars have just begun, and global traders are the ultimate winners.

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Key points

  • Solana has announced its DEX answer to Hyperliquid.

  • Justin Sun joins the war with SunPerp.

    • The post Solana Labs Targets Perps’ DEX Wars: But Justin Sun’s China DEX Plan Is the Secret Slice appeared first on 99Bitcoins.

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