Paired with perp positions
Every market here has a live leveraged position on the other side. That is the whole idea.
Perpons launches tokens whose markets are paired with perpetual positions. Every pool has two sides: the new token on one, and a perp token on the other. A perp token wraps a live, leveraged trading position into an ordinary token; Arcus runs the positions, and holding the token is holding the position. Three of them back every market on Perpons:
a live 3x leveraged long on HOOD, wrapped as a token
a live 3x leveraged long on BTC, wrapped as a token
a live 3x leveraged short on BTC, wrapped as a token
The pairing is total. Buyers pay with the perp token. Price and market cap are quoted in it. The pool’s reserves are made of it. The protocol’s 1% fee is collected in it. Cash-outs redeem through it.
- buys pay in it
- price is quoted in it
- reserves are made of it
- the 1% fee is taken in it
- cash-outs leave through it
Everything else in this document exists to protect that pairing. The fixed billion supply, the one-transaction launch, the locked pool, the flat fee: none of it is the product. The product is a market where a new token and a live position share one chart, permanently.
Two engines, one chart
Ordinary tokens run on demand alone. A paired token has a second engine that never sleeps.
A token on an ordinary launchpad has one engine: demand. People buy, the price goes up; people sell, it goes down; nobody trades, nothing happens. A paired token has two, and only one of them needs anyone to show up.
Concretely: suppose your token trades quietly all week, its perp-term price parked at launch level, its reserves holding pBTC3x. BTC climbs 5%. The 3x position behind your market is now worth roughly 15% more, so the value sitting under your token grew 15% with zero volume.
people buy and sell your token, moving its price in perp terms
the 3x backing trades its own market around the clock
Pick sBTC3x and the green line runs the other way: the backing gains when BTC falls. Leverage cuts both directions. The point is not that the second engine only goes up, it is that the market is never idle.
This also changes what the locked reserve is. On an ordinary launchpad, locked liquidity is money frozen in place. Here the reserve is working capital: a leveraged position that keeps trading its underlying market while it backs yours.
Launching a paired token
One signature, 0.002 ETH, three decisions. The chain does the rest in a single transaction.
A launch is one transaction, and the biggest decision in it is the pairing: which live position sits on the other side of your market forever. You fill in three things:
- The backing perp. pHOOD3x, pBTC3x, or sBTC3x. This is the currency your token trades in, the asset its reserves are made of, and the second engine under its chart. It cannot be changed later.
- Name and symbol. Each combination can only ever be used once on Perpons.
- Your keep. 0 to 10% of the supply, sent straight to your wallet.
The starting price is not one of them. The app reads the backing perp’s live dollar value and sets the opening price so all 1,000,000,000 tokens together are worth exactly $15,000. Every launch starts on the same footing.
- 10.002 ETHyou sign once
one transaction carries the fee and your three decisions: the perp, the name, the keep
- 21,000,000,000the supply exists
every token is minted in the same moment; no way to mint more survives the launch
- 30 to 10%your keep leaves first
whatever share you chose lands in your wallet before the market opens
- 4$15,000the pool opens
the rest of the supply is priced so the whole billion is worth the standard opening cap
- 5foreverthe pairing is locked
the pool's ownership certificate goes into the lock vault, which has no way out
if any step failsthe whole launch cancels itself, fee included. There is no half-launched state.
Notice what the creator never provides: capital. The pool opens holding only tokens, priced at the standard opening cap. The first perp tokens in the market come from buyers, on their own terms, and from that moment the position accumulates behind the token with every buy.
Trading against a position
Every trade pays a flat 1% in the backing perp, and half of it belongs to the creator forever.
Every trade on Perpons has the position on the other side. Buying pushes perp tokens into the pool, deepening the position that backs the token. Selling pulls perp tokens out of it. There is no other counterparty and no other currency.
Always in the backing perp, never in the launched token. Split by the pool itself in the same moment the trade happens: no claiming, no dashboard, no way to redirect it.
So everyone this protocol pays, it pays in perp positions:
| Who | Gets |
|---|---|
| Creator | Up to 10% of the tokens at launch, plus half of every 1% trading fee |
| Launchpad | 0.002 ETH per launch, plus the other half of every trading fee |
A creator’s market pays them for as long as it trades: half of every fee, in the backing perp, delivered by the pool itself. And it does not reward fake activity: trading against your own token costs 1% and returns only half of it, so every wash trade burns 0.5% of its size.
Cashing out through it
Selling can leave through the position itself and arrive as dollars, on one signature.
The pairing is not just how money enters a market, it is how money leaves one. Perp tokens redeem to USDG, a dollar-pegged token, through Arcus. So selling has two paths: trade in the pool like any other swap, or cash out straight through the position itself to USDG.
The catch: the perp tokens the market holds in reserve cannot be turned into USDG instantly. Arcus processes each conversion in roughly 30 to 65 seconds. So a cash-out happens in two steps, but you only act once.
- 0 syou press sell, once
your tokens leave circulation, your minimum payout is written down, and every price on the site updates instantly, as if the sale had already finished
- waitArcus converts the position30 to 65 s
the perp tokens redeem toward USDG; this window is the only wait in the system
- donethe keeper settles it
a watcher service finishes the job the moment Arcus does; it decides when, never where the money goes
Three parts make this work:
- The CurveVault, the contract that holds the market’s reserves and keeps the record of every pending sale.
- The Arcus vault, the system that converts perp tokens into USDG.
- The keeper, the watcher that completes or refunds each sale the moment Arcus finishes.
While a sale is pending, the CurveVault holds your claim and can only do two things with it: pay you, or give your tokens back. The keeper decides when that happens, never where the money goes. And prices shown to everyone else update the instant you press sell, so no one can trade against a stale number.
The pairing can't be broken
Not promises. Missing functions. The dangerous code simply does not exist.
The vault holding each pool has no withdraw function. The code that could pull the position out from under a token does not exist, so a rug is not merely forbidden, it is impossible.
The creator can keep at most 10% of the supply, so the overwhelming share of every token sits in the locked market from day one. The exact number a creator kept is public on every token's page.
After setup, nobody can change the fee, the rules, or the wallets. Not the creators, not the developers. Every existing token and pool would survive even a brand-new launchpad unchanged.
Technical gates make it impossible to launch around the front door, skip the fee, or set up a token's pool with different rules before the real launch does.
The machinery
Four small contracts on top of Uniswap's audited building blocks, each keeping one part of the pairing honest.
Perpons reuses Uniswap’s audited infrastructure (Uniswap v4, its Liquidity Launcher, and its token factory) and adds four small contracts of its own on Robinhood Chain. A launch passes through them in order:
takes the fee and starts every launch
checks every setting, builds the paired pool, sends your keep
collects the 1% in the backing perp and splits it on every trade
holds every pairing's ownership certificate forever
None of the four has an owner or an off switch, and everything a launch needs happens inside a single transaction. Each ships source-verified on Blockscout, and the addresses are published in Appendix B the moment they are live. If you can read Solidity, the contracts in contracts/src/ are short and are the final word on all of this.
Key numbers
The whole protocol on one plate.
- cost to launch
- 0.002 ETH, exact
- token supply
- 1,000,000,000, minted once
- backing
- pHOOD3x / pBTC3x / sBTC3x
- opening market cap
- $15,000, every launch
- creator keep
- 0 to 10% of supply
- trading fee
- 1% per trade, in the perp
- fee split
- 50 / 50, automatic
- liquidity lock
- permanent, no unlock exists
Addresses
For readers who want to verify things themselves.
Perpons’s own four contracts deploy to Robinhood Chain (chain id 4663) source-verified on Blockscout; their addresses are published here the moment they are live.
The Uniswap infrastructure the launchpad builds on:
| Contract | Address |
|---|---|
| LiquidityLauncher v3.2.0 | 0x0000FffFBE8efE702c8703aE3477FF5dE3d319C0 |
| UERC20Factory | 0x000000e200088D55C39a11F609E5F667729ad49b |
| PositionManager | 0x58daec3116aae6D93017bAAea7749052E8a04fA7 |
| PoolManager | 0x8366a39CC670B4001A1121B8F6A443A643e40951 |
The three perp tokens that back every market:
| Perp token | Address |
|---|---|
| pHOOD3x (Arcus HOOD (3x Long)) | 0xe24CABDf76DD1c2576049167eB1755C84b985C36 |
| pBTC3x (Arcus BTC (3x Long)) | 0x4472C69d299382F8847ebCE4FC6Ed8e295510E3e |
| sBTC3x (Arcus BTC (3x Short)) | 0xaDccEee8e422050F890522FA798F8A93a4857083 |
Chain endpoints: RPC rpc.mainnet.chain.robinhood.com · explorer robinhoodchain.blockscout.com. None of the Perpons contracts has an owner or an upgrade path, so once an address is published here it is final.