Perpulse SOV

A deflationary perpetual market on Solana. Every trade locks PERPULSE tokens as fees — permanently. Admin key burned. No one can withdraw. Circulating supply only goes down.

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INSURANCE FUND (LOCKED FOREVER) 27,939 PERPULSE Pool Revenue: 30,500 PERPULSE

Market Stats

PERPULSE Price $0.007172

Total Open Interest 18,556,589 PERPULSE

Vault Balance 41,566,035 PERPULSE

Trading Fee 0.30%

Funding Rate

Period 0.0003% 1h

Hourly 0.0005 bps

Annualized 0.00%

How It Works

Deposit PERPULSE

Connect your Solana wallet and deposit PERPULSE tokens as collateral. You need a small amount of native SOL to get started. Your collateral backs your perpetual positions.

Trade Long or Short

Open leveraged perpetual positions on the PERPULSE/USD pair. Go long if you think metrics will go up, or short if you think it will go down. The market uses an inverted perpetual design.

Fees Burned Forever

Every trade pays a 0.30% fee. These fees go to the insurance fund. The admin key is burned - no one can ever withdraw. Fees are locked permanently, reducing PERPULSE circulation.

The SOV Model

Inverted Perpetual

This is an Inverted Perpetual - PERPULSE is both the collateral and the settlement asset. When you trade, you deposit and withdraw PERPULSE tokens. PnL is denominated in PERPULSE. This aligns the market's economy, activity directly affects the token's circulating supply.

Deflationary by Design

Trading fees (0.30% per trade) accumulate in the on-chain Insurance Fund. The admin keypair has been burned - there is no privileged key that can call `withdraw_fees`. These tokens are permanently locked in the program's vault. Every trade shrinks the circulating supply of PERPULSE.

Formally Verified Risk Engine

The on-chain risk engine uses an 0(1) haircut ratio model for solvency, with real time funding rates, maintenance margin requirements, and automatic liquidation. The engine cranks every 5 seconds, updating funding rates and checking positions.

Live Oracle Price

The PERPULSE/USD oracle price is fetched from DexScreener (Meteora liquidity pools) and pushed on-chain every 10 seconds. A 2% pre-push circuit breaker prevents wild price swings. The crank bot runs continuously, ensuring the market stays in sync with real-world PERPULSE prices.

Market Parameters

Collateral PERPULSE (SPL Token)

Initial Margin 10% (10x max leverage)

Liquidation Fee 1%

Crank Interval 5 seconds

Account Fee 1 PERPULSE

Trading Fee 0.30% per trade

Maintenance Margin 5%

Oracle DexScreener (Meteora pools)

Price Cap 2% per push

Admin Key Burned (Irreversible)

On-Chain Addresses

Program DrGjJ8L7BM8z5cwwG8MBdLyyvqM6jRcEzyY2v124

Market (State) 88TU2GBCorYWReprv7mdg27Ly8nQunHmd1LeVqjydre

PERPULSE Mint 2Jt6G8dFaR4D6cnHSJFP2iWmrDgkb2deKeWLjAjwe

Matcher Program 3HP82mkPJyJxrfRvfzscg8fP8O7GgzwmkdCeGL5ALE

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Open Source - View on GitHub