Perps engine v1
Every launched coin creates a Perps Pool - smart contracts that hold reserve tokens and manage long/short.
The pool tracks three things:
| Component | Description |
|---|---|
| Reserve | Total tokens held by the pool |
| Long payoff | Current value of the long side |
| Short payoff | Current value of the short side |
Solvency Invariant
At all times: Long payoff + Short payoff + Liquidity = Reserve
The pool is always fully backed. Every token owed to longs, shorts, and LPs is in the vault.
In this section
- Shared Liquidity & AMM - How the unified pool and pricing curve work
- Price Feed & TWAP - On-chain oracle from the Raydium spot pool
- Funding - Continuous rebalancing via exponential decay
- Fees - Fee structure on opens and closes
- Key Benefits - What each stakeholder gets