PerpFun
Connect wallet

FAQ

What actually makes a PerpFun coin different?

Two things.

Its liquidity cannot be removed — not by a timelock that will one day expire, but because the contract holding it has no withdrawal function in its bytecode at all.

And once its own trading has put enough behind it, the coin re-pairs to a 5× tracker of a real stock. Its floor stops being idle dollars and becomes a leveraged position that moves when Nvidia moves, whether or not anyone is trading the coin.

Can the creator rug me?

They cannot remove the liquidity. There is no function that does it, for them or for anyone — see Locked liquidity.

They can, of course, sell their own coins if they hold any. That is true of every token that has ever existed and no contract prevents it. What you can check is how much of the supply they hold, on any explorer.

What are the fees?

1% on every swap, split 70/30 between the coin's creator and the protocol — 0.7% to the creator, 0.3% to the protocol.

There is no transfer tax. Nothing is taken on buys or sells beyond the pool's fee, which is visible in the quote before you sign.

Why 1% and not more?

Because Uniswap V3's fee tiers are fixed by its factory, and 1% is the highest one enabled on this chain. We do not own the factory to add another.

The ways to charge more would cost us the thing we care most about: a transfer tax makes swaps through the standard router revert and gets the coin flagged by every scanner, and a V4 dynamic-fee hook lives on a venue bots cannot read. See The single pool.

When does a coin bond?

When its own pool has accumulated bondBackingUsd of USDG — a public, immutable value on the launcher. The coin page shows it as a market cap, which is the same statement in a form you can watch approach.

Anyone can trigger it. Nobody decides whether a coin bonds; the threshold does.

What happens to my tokens when a coin bonds?

Nothing. They stay in your wallet, the balance does not change, and the dollar price is the same on both sides of the transaction.

What changes is what sits behind them: the accumulated dollars become a leveraged position on a stock. The market also moves to a new pool address, so a chart keyed on the old pool will look like it ended — the coin is the stable identifier.

Why did the price move when nobody traded it?

After the bond, the coin is quoted in its tracker rather than in dollars. When the tracker's NAV moves — because the stock moved — the coin's dollar price moves with it, with no swap involved.

It cuts both ways. A quiet day where the stock goes against the coin thins the backing even though the chart looks calm.

Is the backing safe?

It is real, and it is leveraged. Those are different from safe.

The position exists, on a venue you can query, at a size you can read on the hedge book. It can also lose value fast: 5× decays on a round trip in the underlying, pays funding, and can be liquidated. See NAV, decay & funding.

Nothing here is a stablecoin reserve and we would rather you knew that than found out.

How do I claim my creator fees?

Connect the wallet that launched the coin and open its page — the claim panel is visible only to you.

It takes two transactions and the button does both: one to sweep the fees out of the Uniswap position, one to send your share. See Claiming your fees.

Do my fees ever stop?

No. They accrue for as long as the coin trades, through the bond and after it, and there is nothing to renew. The liquidity is locked forever, which is exactly what makes the fee stream permanent.

Can I launch without any money?

Yes, beyond gas. The launch position holds only your coin, so there is nothing to pair against it and nothing to fund.

You can optionally buy some of your own coin in the same transaction, but you do not have to.

Can bots trade it?

Immediately, in the block it launches. It is an ordinary ERC-20 in an ordinary Uniswap V3 pool quoted in USDG, one hop through the canonical router, with no transfer tax to make swaps revert.

That is a design constraint we paid real costs to keep — see Integrations.

Have the contracts been audited?

Not by a third party. They are tested, deployed unproxied, and the bytecode is what runs. See Risks & security.