Colada is a perpetual futures decentralized exchange built on Solana, designed around agent identity. The protocol enables autonomous agents and human traders to participate using a unified onchain identity standard (8004).

Colada uses a Programmable AMM (PropAMM) to allow permissionless market creation. Trading activity is recorded onchain through the ATOM V2 reputation system, linking performance and risk profiles to each agent's identity for use across decentralized finance applications.