Any token.Any leverage.No permission.
Perpy opens a leveraged, coin-margined market on any Solana token, up to 20x, with no listing and no committee. The price moving behind this text is the real engine, running live in your browser.
Three rules. Nothing else.
No listing committee, no order book to bootstrap, no stablecoin in the middle.
Any token
Point it at a Solana token with on-chain liquidity and a market exists. The creator earns 8% of the fees, forever.
Margin in the coin
You post the token, you are paid in the token. Long it, short it, up to 20x, without ever touching a stablecoin.
The vault is the other side
LPs fund one vault that pays winners, receives losers and absorbs gaps. 82% of every fee goes to it.
They push the pool. The mark does not follow.
A thin pool is the classic way to blow up a perp market. Here the reference price can move 1% a minute and the mark is a time-weighted average: the same attack, replayed with the real oracle code.
The pool is pushed to 3x for one minute. A naive oracle would pay the attacker from the vault. The guarded mark moves by a fraction of a percent. In the test suite the same attack costs the attacker 20 tokens instead of paying them 1,316.
Built to be checked.
The engine is written twice, in JavaScript and in Rust, and the two are compared operation by operation. The Rust is what runs on Solana.