What Perpinator is.
Perpinator is a perpetual-futures launchpad on Solana. Anyone can pay a flat launch fee, paste an SPL token mint, and have a leveraged market for it on the board within seconds. The same interface, order types and risk engine are used for every market - newborn perp or graduated blue-chip.
It exists because listing a perpetual on a centralized venue is a months-long political process, and the venues that do list quickly tend to be permissionless-but-broken. Perpinator's answer is to make listing a one-signature transaction and to seed every newborn market with bonding-curve liquidity that delivers tight spreads from minute one.
Quickstart.
- 01Connect a Solana walletPhantom, Solflare or any wallet that speaks the wallet-standard. New wallets get a one-time
50 USDCdemo balance so you can poke around without sending real funds. - 02Pick a market on the launchpadBrowse the board at /launchpad. Filter by 24h volume, max leverage, gainers or losers, or check the positions you already hold.
- 03Open a positionChoose long or short, set collateral and leverage, pick an order type and sign once. The terminal shows your projected liquidation price before you hit the button - never after.
- 04Or launch a market of your ownHead to /launchpad/create, paste a mint, set max leverage and fee, pay
0.3 SOL. The market is on the board before the next block confirms.
Manifesto.
Perpetuals are the most important primitive in crypto. They're also the most gatekept. Listing one means courting a market-maker desk, signing an NDA and waiting six months - assuming you ever hear back at all. The pumpfun generation skipped that entire dance for spot. We're doing the same for leverage.
The thesis is short: if a token has a price, it deserves a perp. Liquidity will come from where it always comes from - wherever there's a chart with a fee on it. Our job is to remove the friction, the rent-seeking and the political theatre between an idea and a tradeable market.
Perpinator is the smallest plausible expression of that idea: a launchpad where you pick a token, pick a leverage cap, sign once, and walk away with a live market that pays you 10% of every fee for the rest of its life.
Markets.
Every Perpinator market is denominated in USDC and isolated - losses on one position can never spill into another. Markets pass through three states:
Market parameters
| Param | Range | Notes |
|---|---|---|
| Max leverage | 2× – 100× | Locked at launch, irrevocable. |
| Trading fee | 3 – 100 bps | Per side, split creator / protocol / insurance. |
| Min position | $5 notional | Dust filter. |
| Tick size | auto | Derived from oracle price magnitude. |
Order types.
Six order primitives, available on every market from day one.
| Type | Kind |
|---|---|
| Market | instant |
| Limit | passive |
| Stop-market | trigger |
| Take-profit | trigger |
| Stop-loss | trigger |
| Interpolated entry | advanced |
Risk & liquidation.
Every position is isolated. Margin and PnL are computed against a single position; if margin falls below the maintenance margin requirement, the position is liquidated and any remaining collateral is returned to the trader.
| Tier | Initial margin | Maint. margin |
|---|---|---|
| ≤ 10× | 10% | 5% |
| ≤ 25× | 4% | 2% |
| ≤ 50× | 2% | 1% |
| ≤ 100× | 1% | 0.5% |
Liquidations are processed by the protocol's keeper. A 0.5% liquidation fee is paid out of remaining collateral: half to the keeper, half to the insurance fund.
Bonding-curve liquidity.
Newborn markets open against a virtual constant-product pool sized to the chosen leverage cap. The depth is enough that a $10K order on day one clears at sub-percent slippage - the chart looks like a chart, not a noise floor.
On graduation, real-LP liquidity takes over as the primary venue and the curve becomes a fallback. Creators are paid out of every fill - virtual or real.
Creator fees.
Every market has a permanent creator address - the wallet that paid the launch fee. 10% of every trading fee on that market routes to the creator wallet for the lifetime of the market. The other 90% is split between the protocol treasury, insurance fund and LPs.
| Recipient | Share | Settles |
|---|---|---|
| Creator | 10% | Per-block to creator wallet |
| Protocol | 60% | Per-epoch to treasury |
| Insurance | 20% | Per-epoch to fund |
| LPs | 10% | Per-epoch pro rata (post-graduation) |
Fees & limits.
| Surface | Charge | Notes |
|---|---|---|
| Launch fee | 0.3 SOL | One-time, non-refundable. |
| Trading fee | 3 – 100 bps | Per side, set by creator at launch. |
| Liquidation fee | 0.5% | Of remaining collateral. |
| Funding | Variable | Settles hourly, capped at ±0.05% per interval. |
| Min position | $5 | Notional. |
| Max position | $250K | Per market per wallet during v0.1. |
API. planned
There is no public API yet. A read-only REST + WebSocket surface is on the roadmap, but during beta everything goes through the website.
Status.
Perpinator is in beta. Things on screen work; things behind the scenes are being tuned in public. Anything that's live is live for everyone, and anything that breaks, breaks for everyone.
Incidents and degradations get posted to @perpinatorfun in real time. A dedicated status page lands with the next big drop.
Brand kit.
Logos, profile assets, colours and a couple of dos-and-don'ts. Use them freely in articles, decks and integration screenshots. Don't redraw the wordmark and don't tint the accent.
Palette
Changelog.
Notable drops, in reverse chronological order.
- Marketing site with hero, showcase, mechanics, tape, outro.
- Launchpad board with trending / new / gainers / losers / watchlist / positions tabs.
- One-click market creation for any SPL token.
- Trading terminal with six order types and live OHLCV chart.
- 50 USDC welcome bonus for new wallets, on-chain top-ups in USDC / USDT / SOL.
- Multi-wallet support (Phantom, Solflare, MetaMask Solana snap).
- Server-side keeper network so stops and take-profits fire even when the tab is closed.
- Dedicated status page.
- Mark-price oracle hardening with TWAP fallback.
- Read-only REST and WebSocket feed for markets, candles and trades.
- Authenticated trading endpoints behind wallet signatures.
- Creator-of-the-month leaderboards.
Disclosures.
Perpinator is software. Trading perpetuals carries the risk of total loss of deposited collateral, and leverage amplifies that risk. Nothing on this site is investment advice and nothing on this site is an offer or solicitation in any jurisdiction in which such an offer or solicitation is prohibited.
Markets are launched permissionlessly by third parties; the protocol does not endorse, vet or warrant any token listed on the launchpad. Use is restricted to users in jurisdictions where derivatives trading on decentralized protocols is lawful - see the terms for the full list.
Security disclosures and bug reports go to security@perpinator.fun - please don't file them publicly.
FAQ.
Is this audited?
v0.1 is beta software and has been through internal review only. The on-chain risk engine going to mainnet will be third-party audited before launch; the report will be linked here when it lands.
Can I close a market I launched?
No. Markets are permanent for as long as they have open interest. If volume falls below floor for 30 consecutive days the market auto-retires and existing positions can be closed but no new ones opened.
What if my token gets delisted from oracles?
If the price feed becomes stale beyond 60s the market enters protective mode: only reduce-only orders are accepted until a feed is restored or the market is retired.
Are creator fees taxable?
Almost certainly, in almost every jurisdiction. Talk to an accountant. We don't file anything on your behalf.
Why Solana?
Sub-second blocks and fees small enough that the keeper-driven liquidation model is actually viable. The trading engine assumes both.
What about MEV?
Order placement is private until inclusion. Market orders settle against the curve, so there's no orderbook for searchers to sandwich in v0.1. Limit orders are batched on settle.