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.

People and links

Attribution
Role	Handle / URL
Founder	ADP the Great · @adpthegreat
Product X	@PerpsPadfun
App	perpspad.fun
API docs	perpspad.fun/developers
Open repo (bot)	github.com/adpthegreat/perpspad-bot

Product in one diagram

text

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)

Components
Layer	Choice
Token	Mainnet SPL, 1e9 supply, mint + freeze authorities revoked at create
Primary market	Meteora Dynamic Bonding Curve (SOL-quoted)
Post-curve	Meteora DAMM v2; liquidity permanently locked
Fee claimer / perp owner	Per-coin sub-wallet (public address; not creator-held)
Perp routing	Imperial meta-router → execution on Phoenix CLOB (paper’s current description)
Collateral	USDC (SOL→USDC via Jupiter on deposit ticks)
Burns	Jupiter buy of the coin + SPL burn
External coins	pump.fun creators can point fee receiver at a PerpsPad sub-wallet (shows after first on-chain fee claim)

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)

On each fee claim (normalized to SOL)
Share	Destination
~50%	Perp open gate / collateral top-ups
~15%	Creator payout (same tick; asset depends on pair)
~20%	Platform treasury / $PERPSPAD flywheel
~15%	Per-token buyback-and-burn reserve

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).

bash

# 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

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.