Solana Perpetual Contract Platform Percolator Launches $250,000 Funding

The Solana perpetual contract platform Percolator will initiate a $250,000 funding round through MetaDAO's Backable and create a new token, PERC. The existing PERCOLATOR token will not be migrated and cannot be exchanged or claimed for PERC; holders as of the snapshot on November 7 will be able to participate in the reserved $50,000 funding allocation but must contribute at the same price as other participants. Percolator stated that PERCOLATOR was issued by others via pump.fun and later taken over by David through community takeover, with approximately 1 billion tokens already circulating in the market since launch, and the team has no locked or sellable token allocation. This funding will adopt a mechanism where it will not be completed if the $250,000 target is not reached, with 80% of the raised funds going into the treasury and 20% for PERC liquidity; the team will receive 10 million PERC, which will be locked for at least 18 months. PERC does not represent equity in the company.