Overview
TIP
Every launchpad in crypto does the same thing. You launch a coin, you get a spot pool. Your community can buy and sell. That's it. A one-way street marketed as a market.
Real markets have derivatives. Real markets have leverage. Real markets let you express a view in both directions. Until now, no launchpad offered that. Perps.club was built to close that gap.
Perps.club is a decentralized perpetuals protocol on Solana with two products:
Power Launch
Launch a coin with instant spot and perpetual futures markets from Day 1. No bonding curves, no seeding liquidity, no upfront fees. Any creator can launch a coin and give it a fully functional perps market immediately.
Key Features
- One-click token launch with AMM spot + AMM perps markets
- No orderbook dependency - fully AMM-driven
- No market maker required
- TWAP oracle derived from on-chain pool activity
- Permissionless - anyone can launch
- All LP locked permanently
How it works under the hood:
- Token creation initializes a Raydium CLMM spot pool and a Perps.club v1 perps market simultaneously
- 70% of token supply goes to spot, 30% to perps
- Spot price feeds a TWAP oracle that powers the perps market
- Positions are tokenized and transferable - you can send, sell, or use them as collateral
- No liquidation. Positions move with the market via a power curve. Even if price drops to zero and recovers, your position recovers with it.
→ Step-by-step walkthrough · Deep dive: Perps Engine, Power Curve, No-Liquidation Mechanics
Power Predictions
Trade any asset with power-curve leverage and zero liquidation risk. Your downside is capped at your position size. Your upside is amplified by a convex power curve - the bigger the move, the disproportionately bigger your return. Unclosed collateral from losing positions is redistributed to winners, creating an additional profit layer beyond the price move itself.
Key Features
- Up to 32 power-curve leverage
- Zero liquidation - positions never force-close
- Capped downside, convex upside (positive convexity baked in)
- Pooled redistribution from losing to winning side
- Positions are transferable tokens
- Options-like payoffs without premiums, Greeks, theta decay, strike prices, or expiry
How it works under the hood:
- Price tracks the underlying asset raised to a power (e.g., EUR32/USD)
- A 2% move in the underlying becomes an ~88% move in the power market
- Asymmetric by design: +50% spot → +125% long, -50% spot → -75% long. Upside is always larger than downside.
- No binary settlement - positions stay in sync with market price continuously
- Losing side's unclosed collateral is pooled and redistributed proportionally to winners. If you're losing and you don't close, it's a donation to the other side.
- Daily and weekly sessions
- 10 pairs at launch across FX, commodities, and China A-shares. Real prices from Pyth Network oracles.
→ Step-by-step walkthrough · Deep dive: Session Lifecycle, Layers
Power Launch vs Power Predictions
| Power Launch | Power Predictions | |
|---|---|---|
| Asset type | New tokens (creator-launched) | Existing assets (FX, commodities, indices) |
| Leverage model | x2 power curve | Up to x32 power curve |
| Liquidation | None | None |
| Session type | Perpetual (no expiry) | Daily and weekly sessions |
| Settlement | New token (creator-launched) | USDC |
| Oracle | On-chain TWAP from Raydium pool | Pyth Network |
| Positions | Transferable tokens | Transferable tokens |
| Extra yield | Funding rate flow | Winner-takes-all bonus pool |