perpsbanklitepaper · v0.1 · 2026

perpsbank is a memecoin whose treasury doesn't sit idle — it trades perpetuals on Hyperliquid. Every closed winner triggers a holder snapshot and a raw USDC airdrop on Solana. No staking locks. No claim tokens. No vesting.

01 tl;dr

• $PERPS is a pump.fun token. Creator fees flow into a trading treasury.
• The treasury swaps SOL → USDC and bridges to Hyperliquid via Mayan/CCTP.
• An algorithm opens long/short perp positions on majors. Simple at MVP. Smarter over time.
• Every closed winning trade snapshots all $PERPS holders and airdrops the realized USDC pro-rata, on Solana, within minutes.
• Losing trades are absorbed by the treasury. Holders never owe back — they just skip that round.
• The launchpad lets anyone deploy a token through us. That token's pump.fun creator fees flow into the same trading pool. 80% of the realized PnL goes to that token's holders, 20% to $PERPS.

The treasury of a memecoin should be a yield engine, not dead liquidity. — design principle #1

02 where the money comes from

The only revenue source is pump.fun creator fees — the cut pump.fun pays the token creator on every swap, both on the bonding curve and in the PumpSwap pool after migration.

Our backend polls every N minutes, calls collectBondingCurveCreatorFee and collectPoolCreatorFee, and sweeps accumulated SOL into the treasury wallet.

03 trading on hyperliquid

We picked Hyperliquid as the only orderbook perp DEX in 2026 with real on-chain liquidity. Not Drift, not GMX, not Jupiter Perps — Hyperliquid gives us maker rebates, tight slippage, and fully public positions, so any holder can verify in real time that we're actually trading.

The MVP strategy is deliberately stupid:

1. Pick 5–8 liquid majors (BTC, ETH, SOL, HYPE, ARB, DOGE, PEPE, …).
2. Every N minutes open a random long or short on one of them.
3. Size cap: ≤ 5% of account value per position.
4. Leverage 2–5x.
5. Fixed take-profit / stop-loss rules.

The MVP doesn't need to print +200% APR. It needs to prove the loop closes — claim, swap, bridge, trade, close, snapshot, distribute — end to end, on every cycle. — v0.1 acceptance criteria

04 distribution flow

Every closed position writes a row to the DB with realized_pnl_usdc.

• If PnL > 0 → snapshot all $PERPS holders at close time (gRPC stream via Triton Yellowstone).
• Compute shares: holder_payout = pnl × (holder_balance / total_supply).
• Batch transfer USDC on Solana in a single signed transaction with N instructions.
• If PnL ≤ 0 → treasury absorbs the loss. No snapshot. Holders skip the round and lose nothing.

Weekly, a portion of HL profit is bridged back to Solana — native HL → Arbitrum bridge (~3 min) → Mayan/CCTP → Solana — to refill the distribution reserve.

05 launchpad · 80/20

Anyone can launch a token through perpsbank. Fill the form → pump.fun deploy → our bot starts auto-claiming creator fees and routing them into the shared trading pool.

parameter	value
deploy cost	0.02 SOL (pump.fun) · zero from us
profit split	80% to your holders · 20% to $PERPS
fee custody	dev wallet private key, encrypted at rest
cancel	opt out anytime — fees stop flowing in
min liquidity	none — treasury scales with collected fees

The split is enforced in our backend, not on-chain. That is a deliberate MVP compromise. Both holder sets (launchpad token + $PERPS) are written from gRPC snapshots into the DB, and payout fires as two batched Solana transfers.

06 tokenomics

parameter	value
chain	Solana (pump.fun)
standard	SPL token
supply	1,000,000,000 $PERPS · fixed
team allocation	0% · fair launch on pump.fun
creator fees	0.5% of every swap (pump.fun standard) · 100% to treasury
buyback	none in MVP — holders receive USDC, not more token
burn	none — holder share stays stable

07 risks

• Treasury drawdown. A streak of losing trades shrinks equity. Distribution pauses until we're back to net positive. Holders keep their tokens but live through days without payouts.
• Bridge risk. Mayan and CCTP are external infrastructure. A Wormhole-style exploit is historically non-zero.
• HL counterparty. Hyperliquid is a DEX, not a CEX — funds live in a smart-contract margin pool. It's audited and unexploited to date, but it's still DeFi.
• Launchpad key custody. Dev wallets for launchpad tokens live encrypted in our database. This is the single biggest compromise surface in v0.1. Long-term plan: migrate to a pump.fun fee-delegation mechanism that doesn't require us to hold private keys.
• Regulatory. Actively managing other people's money triggers investment-fund regulation in most jurisdictions. We sit in the grey zone until traction outpaces jurisdictional risk.

Distribution pauses through drawdown. Holders never pay back. The downside is asymmetric in the holder's favour — that's the whole point. — risk note #1

08 roadmap

1. v0.1 — MVP. $PERPS launch, random long/short, distributions on trade close.
2. v0.2 — Launchpad public. 80/20 split. Token detail pages.
3. v0.3 — Algo upgrade: funding-rate arb, volatility-aware sizing.
4. v0.4 — Public Hyperliquid vault. External LPs deposit alongside the treasury.
5. v0.5 — DAO vote on risk parameters: leverage cap, asset whitelist, split ratio.

$PERPS is a memecoin. It is not a security, a fund, a vault, or a registered investment product. It is an experiment in turning a memecoin treasury into a yield source instead of static liquidity. not financial advice.