Eli | Fivebar

Perpulator > Perculator Update: our own devnet test runs on top of his code now :), and the core path behaves correctly so far. The test sets up one market where our keeper pushes the price, an LP quoting through his matcher, a normal trader and an over-leveraged one, then drops the price 11% over 12 slots. Deposits, trades through the matcher, price updates and cranks all work. After every step the books balance exactly: the vault matches the real token balance, and no money is created. Liquidation works, and it’s partial: the program trims the risky position just enough to keep it at the maintenance line instead of wiping it out. One thing I learned that matters for our keeper: liquidation only happens on a second crank call with no price hint, after the price refresh. A keeper that only refreshes prices would never liquidate anyone. Im working on the keeper logic into the test to do both.

We are down to 140 failures from 230 on the first run, so right now 1413 out of 1557, passing. 40 reporting a wrong balance at the end of a long sequence 25 are the program refusing to continue a cleanup step some outdated approvals and the rest are scattered with most in invariant suites, which are long, adversarial edge-case scenarios that some code agents were adding. Just doing some house keeping on the code for now, ill try to keep you all in the loop so you can follow along as close as possible.

So I have decided to Fork @toly original Perculator repo and build it with my team at @fivebar_xyz Why? Well the idea is novel and pretty awesome, I was excited to see it come to life, even though I was not a holder of $PERCULATOR the whole thing was fishy to me. Every post was fishing for Tolys engagement and hype. Tbh never felt too serious to me. So anyways, We are going to build it. And most importantly, I have nothing to Sell you.

We've decided to remove the @PercolatorTrade raise from our site. The goal of Backable is to be a place where anyone, regardless of whether they are well-connected or high-credentialed, can build a valuable business. This is the dream of crypto: an open and fair playing field where anyone can win. That being said, there’s certain behavior we want to avoid supporting, and after looking at the evidence, this is an instance of that. We plan on using the term "open" instead of "permissionless" in the future. While we don't want to be the tastemaker of companies on Backable, we do need to run some level of platform-level moderation.

We have set in motion the steps to fork and build from Toly's open source repo, we will rename it Perpulator. Sorry folks, you had your chance and insane support, and you messed it up screwing your holders @PercolatorTrade We watched the whole thing unfold and it was not an ethical move from those Developers. Glad Meta DAO took the necessary steps to not facilitate this raise. We don't have a token and we are not CTO'ing the existing $PERCULATOR token either. But I think Toly's blueprint deserves a successful outcome after all. The founder is @eli_dev1 so any questions you might have just reach out. We are Americans, in America lol. And lastly shoutout to @AgentChud for his dedication to see that raise taken care of. Some things you will not from this team: -Constantly fishing for engagement from Toly or the Solana team (why we aren't even @ them) -Make promises that this will be the holy grail of protocols (It is a massive capital consuming business and tough competition) - Do corny videos.

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