PerpsPad: perp-backed Solana launches and live API docs

PerpsPad is founded by ADP the Great (github.com/adpthegreat). Product account: @PerpsPadfun. Site: perpspad.fun. Public tooling repo: adpthegreat/perpspad-bot (alerts for buybacks, burns, TPs).

On 11 Aug 2026 @PerpsPadfun announced that API docs are live at perpspad.fun/developers, with community testing and Telegram outreach for builders. Mechanism write-up: /paper.

PerpsPad is a Solana launch surface for coins backed by a perpetual position: each coin’s fees accrue to a dedicated sub-wallet that opens/tops a leveraged perp on a chosen market and routes profits (and a fee slice) into buyback-and-burn. The headline is the perp treasury + burn loop, not the DEX venue brand used under the hood for the trading curve.

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People and links

Product in one diagram

Creator launches SPL (1B fixed, mint/freeze revoked)
        │
        ▼
Meteora Dynamic Bonding Curve (SOL pair)
  buys/sells = normal Solana swaps (Jupiter-routable)
  100% fees → coin sub-wallet
        │ curve fills
        ▼
Meteora DAMM v2  (LP permanently locked 50/50 partner/creator flags)
        │
        ▼
Sub-wallet (public) ──keeper──► Imperial → Phoenix perp (USDC collateral)
        │                         │
        │                         └─ top-ups / partial closes on policy
        ▼
Fee split (per claim) → perp · creator · treasury · buyback-burn
        │
        ▼
Jupiter buy + on-chain SPL burn

Technical stack (from /paper and /docs)

Sub-wallets are derived from a master treasury signer (HMAC-SHA256 over token id) so a keeper can operate many coins; creators never receive those keys. Master treasury cited in paper: FHmBz4SnZ5r6Rws958S8WJ5ymnrvUdwjgrVQ3BVeBH95 (verify on explorers — addresses can rotate with ops changes).

Markets and leverage

Creators pick underlying + leverage at launch. Catalog is venue-driven (crypto majors, Sol-eco, memes, US equities, commodities). Leverage tiers:

• Base: 2x / 3x / 5x
• Degen: higher (paper cites 10x–25x class, clamped under venue max; UI may show more) — flagged on the homepage

Wrong side + high leverage can liquidate the treasury position. Burns from the fee buyback path still run; PnL burns only when the position is profitable under keeper rules.

Fee split (paper’s four-way claim split)

Earlier short docs on the site described a 50/25/25 split; treat /paper as the detailed source and re-check before integrating — fee policy is product-critical.

Keeper sketch (docs): open after fee accrual threshold with fixed collateral at chosen leverage; further fees top up; partial closes lock profit slices into burn. Position is intended to live for the life of the token (no “graduate and unwind perp” event).

API docs are live — what that means for builders

The X post: docs at https://perpspad.fun/developers, active testing with community devs, integrations with existing tools, Telegram for collaboration. Expect (typical launchpad API surface — confirm in live docs):

• Market / token listing and stats
• Launch parameters (market, side, leverage)
• Sub-wallet / treasury / position reads
• Fee claim / burn history for indexers and bots
• Possibly webhook or poll endpoints for keeper-adjacent apps

The SPA may hydrate docs client-side; if a crawl looks empty, open the page in a browser or check for OpenAPI linked from Developers. Community bot example already exists (adpthegreat/perpspad-bot— buybacks, burns, TPs, multi-coin alerts).

# Start here
open https://perpspad.fun/developers
open https://perpspad.fun/paper
open https://perpspad.fun/docs
open https://github.com/adpthegreat/perpspad-bot
open https://x.com/PerpsPadfun

# Platform token mint (from @PerpsPadfun bio — verify before integration)
# PerPsCe2SJ7Q25CN4R5TTX4fmBdmknE2hQmqCt96fHL

Integration ideas (now that docs exist)

• Terminal / bot UX — surface live perp PnL + burn rate next to curve progress
• Alerting — fee claim, top-up, TP burn, liquidation risk
• Portfolio trackers — map coin → sub-wallet → venue position
• pump.fun bridges — fee receiver redirect wizard + verification that first claim hit PerpsPad
• Risk dashboards — degen leverage filter, distance to liq, treasury SOL buffer

Risk and diligence

• Leveraged perps can go to zero collateral — coin “backing” is not a peg
• Keeper / master-key operational trust even with public sub-wallets
• Venue/router dependency (Imperial, Phoenix, Meteora, Jupiter)
• Fee split and thresholds can change — pin to current /paper + API version
• Regulatory: equity/commodity perps exposure via tokenized launch UX

Links

• perpspad.fun
• API / developers
• Paper
• Docs-live announcement
• @PerpsPadfun
• Founder GitHub — adpthegreat
• adpthegreat/perpspad-bot

Summary

PerpsPad, founded by ADP the Great and run on X as @PerpsPadfun, is a Solana launchpad where trading fees fund a per-coin public sub-wallet that runs a leveraged perp (Imperial → Phoenix) and burns supply from fees and profits. Mint authorities are revoked; migrated LP is permanently locked; creators do not hold treasury keys. API docs are public at /developers; open alert tooling lives at adpthegreat/perpspad-bot. Ground truth mechanics stay in /paper. Treat leverage as the product risk, not a footnote.