a perp DEX program that just uses one slab of memory in an account for everything with its own LP/risk/matching engine
CXobgfkQT6wCysehb3abkuimkmx5chS62fZew9NBpumpThis is an enhanced fork with production-ready infrastructure, not a copy of the original work.
Essential terms to understand how PERColator works
A 10MB memory block containing an entire market - order book, positions, and all trading data in one contiguous space for maximum speed.
Two-phase trading: First 'reserve' locks liquidity at current prices, then 'commit' executes the trade - preventing price manipulation between steps.
A piece of reserved liquidity from a specific order. Your reservation might grab slices from multiple orders to fill your size.
Designated Liquidity Provider - VIP traders who can post orders immediately and trade during freeze windows. Think of them as market makers with special access.
Safety check that rejects trades if the price moved too much (default 1%) since you reserved. Protects you from stale prices.
Aggressor Roundtrip Guard - detects if you buy AND sell in the same batch (sandwich attempt) and charges you extra. Anti-manipulation.
Your cross-market account tracking total exposure and risk across all slabs. One portfolio, many markets.
Time-limited (2min max) authorization pass that lets specific markets access your funds. Scoped security - no blanket permissions.
Hourly payment between longs and shorts that keeps perpetual prices anchored to spot. If perp > spot, longs pay shorts (and vice versa).
Single 10MB account per market containing order book, positions, reservations, and free lists in one cohesive structure.
Sub-second execution times with O(1) operations and optimized memory pools for maximum trading performance.
Capability-based access control with time-limited tokens and anti-replay protection for secure operations.
Portfolio-level risk management with cross-slab margin calculations and unified collateral system.
Kill Band, JIT Penalty, and ARG systems protect against toxic order flow and ensure fair trading.
Router and Slab programs work together seamlessly with clear separation of concerns and responsibilities.
RoutR1VdCpHqj89WEMJhb6TkGT9cPfr1rVjhM3e2YQrSLabZ6PsDLh2X6HzEoqxFDMqCVcJXDKCNEYuPzUvGPkSlabs cannot access Router vaults directly. All debits require unexpired, correctly scoped Caps.
Price-time priority strictly maintained. O(1) freelist operations for maximum performance.
Single 10MB account per market. No cross-contamination between users or slabs.
Kill Band, JIT Penalty, and ARG mechanisms protect against toxic order flow.