Anatoly Yakovenko, co-founder of Solana, has revealed his exploration of a project named Pinocchio, utilizing Claude for testing. Yakovenko envisions replicating the competitive mechanisms of spot AMMs in the perpetual contracts market. The concept involves two main components: a perpetual DEX program with independent liquidity pools and a risk and matching engine, all operating within a single account memory block, and a router capable of automatically rebalancing positions across multiple such DEXs.