Solana’s Anatoly Yakovenko outlines a new model for bootstrapping crypto networks using futarchy governance and fair contributor rewards.
Solana co-founder Anatoly Yakovenko, known online as @toly, has put forward a new framework for launching crypto networks. He shared his proposal on X, asking the community for feedback.
The model targets a long-standing problem in decentralized finance: how to fairly bootstrap a network without rewarding rent seekers. Yakovenko used a simple analogy to open the conversation. He asked whether participants would rather have a whole grape or a slice of a watermelon.
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Yakovenko argues that the best crypto networks have always solved for bootstrapping network effects. He describes this as “hard crypto,” crediting @TrustlessState for the term.
His view is that a successful network is not a company with a token. It is a network with many contributors all working together.
He pointed to perpetuals and DeFi protocols as key test cases for this model. According to Yakovenko, the most valuable contributors are those who create new, high-value markets.
Specifically, those who bring net additional shared liquidity to the table. The challenge, he noted, is that no clean proof-of-work equivalent exists to verify net new liquidity.
This gap means governance must fill the role. Yakovenko openly acknowledged that governance generally fails in practice.
He said his hope is that futarchy, a governance model driven by prediction markets, can fix this. It is a system where policy decisions follow market outcomes rather than votes alone.
Do you want a whole single grape or a slice of the watermelon? The perfect way to bootstrap a network should offer every participant a slice of the watermelon, so they chose to participate in network as apposed to trying to build their own thing. You must have minimal rent…
— toly 🇺🇸 (@toly) May 29, 2026
How Yakovenko’s Bootstrap Process Would Work
Yakovenko laid out three core steps for bootstrapping governance fairly. First, a Sybil check is required to verify that participants are real, unique users.
Second, financial incentives during the early phase should be kept minimal. He pointed out that Merkle mine and proof-of-work schemes worked once but became games for profit quickly.
His concern is that funds, or venture capital players, will optimize for return on investment without adding real value. He believes they should only enter after the network completes real work.
Third, Yakovenko said it should not matter who starts the process or who wins it. If a group games the bootstrap, the Sybil check still holds.
The rest of the community can simply exit and fork into a new network at no cost and no loss. This exit option, he argues, removes the power that bad actors gain by controlling early stages.
He also noted that AI is making this more urgent. Falling software costs mean protocols are easier to spin up. AI tools also lower the cost of market analysis, which makes futarchy-style governance more practical than before.
Percolator Protocol and a Call for Startup Collaboration
Yakovenko referenced a project called Percolator as part of his proposal. He said the protocol has formally verified isolation between markets.
Under this system, anyone can create additional markets under one roof. Crucially, those markets cannot harm or interfere with each other.
Hint hint. Instead of all building your own thing, get a bunch of startups together that are all building perps, prediction markets, new oracles, prop amms, etc… bootstrap a Futarchy together that run common protocols.
Percolator (baring any bugs) has formally verified… https://t.co/zT6CICFigt
— toly 🇺🇸 (@toly) May 29, 2026
He issued a direct call to the startup community through Colosseum, a well-known Solana accelerator.
Rather than each team building separately, Yakovenko suggested that startups working on perps, prediction markets, oracles, and prop AMMs come together. His suggestion is to bootstrap a shared futarchy that runs common protocols collectively.
He also noted that a vote in this model has a cost but guarantees nothing.
Participants retain the right to exit at any time. This design, he said, is intentional. It keeps the system honest and prevents any one group from locking others in against their will.