Memecoins,
perped.
Every coin launched on perped gets a Hyperliquid perpetual attached at mint. A share of creator fees funds the perp, on chain, in the same transaction that creates the coin. Locked forever.
Three locks. One transaction.
A coin launches on Pump.fun in a single user signature. Three things are locked into the chain in that moment.
The token
Standard Pump.fun bonding curve. Tradeable from second one, graduates at the usual 85 SOL threshold, mint authority revoked at launch.
sdk.createAndBuyInstructionsThe split
A configurable share of creator fees, 50 to 90 percent, routes to the perped treasury. updateFeeShares writes this on chain in the same transaction. Once set, it cannot be changed.
OnlinePumpSdk.updateFeeSharesThe position
As fees accumulate, an off chain worker bridges to Arbitrum via Circle CCTP and opens a 2x, 3x, or 5x Hyperliquid perp in the chosen direction.
exchange.orderEvery coin, every position.
Launch oneOne row per coin. Treasury and market cap come from the latest snapshot written by the worker.
Pick anything Hyperliquid lists.
Underlying assets supported in v0.1, with live mid prices straight from the Hyperliquid websocket.
Things that can wreck you.
Other launchpads call this section “non liquidating” on the front and then admit liquidation risk in section six of their PDF. We do not.
Liquidation.
5x perps can liquidate. Soft caps and auto deleverage reduce probability, not the floor.
Funding drag.
Crowded longs pay funding 24 hours a day. In a flat market this erodes the treasury.
Peg slippage.
The token tracks NAV via market making, not redemption. If the MM buffer runs dry, the peg widens.
Counterparties.
Hyperliquid, Pump.fun, Circle CCTP, RPC providers. A failure in any of them cascades.
Built different, on purpose.
A short list of what is genuinely different about perped compared to other perp backed memecoin launchpads.
Fee routing is locked.
Configured once via Pump.fun's updateFeeShares primitive, in the same transaction that mints the coin. After that, no team, multisig, or DAO can change the split. Anyone can verify the recipient address.
Position is public.
The Hyperliquid account for every coin is exposed in the UI and queryable through the public Hyperliquid info API. PnL is observable, not promised.
Math is in the paper.
Not a one page abstract. Actual model with funding term, MM buffer, peg tolerance. If something looks wrong, it is provable.
Roadmap admits trust.
v0.1 has an operator. v0.2 ships a wrapper vault with hard redemption. v1.0 moves treasury control on chain. We are honest about where we are.