Coins that own
a position.
Perps Hood is a launchpad where every coin is backed by a live leveraged perpetual owned by that coin's own on-chain sub-wallet. Trading fees fund the perp; profits buy back and burn supply; drawdowns only add margin. The position never closes and nothing unwinds at graduation.
Token
Every launch mints a fixed 1,000,000,000 supply, with mint and freeze authorities revoked at creation. There is no inflation lever and no blacklist, so the only supply movement possible after launch is downward — through burns the keeper executes on the coin's behalf.
Curve
Coins trade against a bonding curve from the first block. The trade fee starts at 4% and decays to 2.5% over the first 24 hours, front-loading the revenue that funds the engine. At a fixed threshold the coin graduates into a full liquidity pool.
Graduation migrates liquidity. It does not touch the perp, the sub-wallet, or the fee split — a graduated coin is simply a coin whose engine has been running longer.
Sub-wallet treasuries
Each coin owns a program-derived sub-wallet. Fees claimed for that coin land there, margin for its perp is posted from there, and burns are executed by it. No two coins share a wallet, which means no coin can be exposed to another coin's liquidation.
The keeper is the only actor permitted to move a sub-wallet's funds, and it can only move them along the four paths described in §7.
Market universe
Creators choose from 54 supported markets across four classes. Every market carries its own maximum leverage, enforced at selection so a launch can never open with a size the venue would reject.
Routing
Orders route through a central limit order book, with collateral posted in USDC on Robinhood Chain and settlement built on Pons. A keeper service ticks every 60 seconds; it holds no discretion beyond the loop below.
Fee split
Every claim divides three ways: half to perp margin, a quarter to the coin's own buyback and burn, a quarter to $HOOD buyback and burn. The split is fixed at the protocol level and identical for native launches and externally routed coins.
to perp margin — the engine grows with every claim
to the coin's own buyback and burn
to $HOOD buyback and burn
Keeper loop
The loop is deliberately small. Claim, split, then either take profit or add margin. There is no discretion, no rebalancing, and no path that closes a position at a loss.
Creator fees are claimed from the curve or the routed sub-wallet.
Half to perp margin, a quarter to the coin, a quarter to $HOOD.
At +25% of collateral, realized profit is swapped to the coin and burned.
In drawdown, fees only top up collateral. Skipped under a 25% buffer.
Position lifecycle
A position opens once $20 of fees have accrued — roughly a $2,500 market cap — and tops up by $20 per claim at the same leverage. Profit is realized in increments of 25% of collateral, swapped to the coin and burned. In drawdown the position only receives margin.
A top-up is skipped whenever it would push the liquidation buffer below 25% of collateral. This is the one place the keeper declines to act, and it exists so that adding margin can never itself become the cause of a liquidation.
Once $20 of fees have accrued, at the creator's chosen leverage.
Every claim adds margin at the same leverage — size grows, leverage does not.
In +25%-of-collateral increments; realized profit is swapped to the coin and burned.
In drawdown fees only add collateral. Skipped if the buffer would fall under 25%.
No code path closes the position at a loss, and graduation does not unwind it.
External tokens
A coin that launched elsewhere can attach the same flywheel. Its creator generates a one-use sub-wallet derived from their router and the token contract, then points creator fees at it. From the first claim onward it behaves exactly like a native launch — same split, same keeper, same burn schedule.
No wallet connection is required to derive the address, so the mechanic can be evaluated in full before anything is granted.
Launch a coin, or attach the flywheel to one you already have.