Token
PERPS is a utility token on Robinhood Chain. Holding it raises your leverage cap and your reward multiplier. It is not an investment product.
Contract
PERPS is a standard ERC-20 deployed on Robinhood Chain, an Arbitrum-stack L2. There is one contract. If an address does not match the one below, it is not this token.
| Field | Value |
|---|---|
| Ticker | PERPS |
| Contract | Not deployed yet |
| Chain | Robinhood Chain |
| Chain ID | 4663 (hex 0x1237) |
| Decimals | 18 |
| Total supply | 1,000,000,000 at launch |
| Gas token | ETH |
You can read the contract and its holders on the chain explorer at robinhoodchain.blockscout.com, or query balances yourself against the public RPC. Supply is fixed at 1,000,000,000 units of 18 decimals. Balances are quoted in whole tokens everywhere in the product, so a Bronze balance of 10,000 PERPS is 10,000 * 10^18 in raw contract units.
Tiers
Your tier is your on-chain PERPS balance, read at the connected address. There is no registration, no snapshot, no points database, and nothing to claim. The balance is the record. Move tokens out and the tier drops on the next read. Move them in and it rises.
| Tier | PERPS balance | Leverage bonus | Reward multiplier |
|---|---|---|---|
| Unranked | 0 | +0 | 1x |
| Bronze | 10,000 | +5 | 1.25x |
| Silver | 100,000 | +10 | 1.5x |
| Gold | 1,000,000 | +20 | 2x |
| Diamond | 10,000,000 | +50 | 3x |
Because the tier is derived from a balance the chain already stores, it cannot be faked by an API response or a spoofed client. It can, however, be rented. Nothing stops someone borrowing tokens, holding them across a read, and returning them. Treat the tier as a statement about a balance at a point in time, not a statement about a person.
Leverage bonus
The bonus is added to the leverage cap of the market you are trading, and the result is hard capped at 100x overall. It does not create leverage where the market has none. In the demo terminal the base cap is derived from that market's real on-chain liquidity depth, so the bonus is applied on top of a number that already reflects how thin the pool is.
effective cap = min(100, market cap + tier bonus)
Gold trader, market cap 20x -> min(100, 20 + 20) = 40x
Diamond trader, market cap 5x -> min(100, 5 + 50) = 55x
Diamond trader, market cap 25x -> min(100, 25 + 50) = 75xReward multiplier
The multiplier scales rewards that the product distributes, from 1x at Unranked to 3x at Diamond. It multiplies whatever the base amount happens to be. If the base is zero in a given period, three times zero is zero. The multiplier is a rate, not an amount, and no amount is guaranteed here.
Where revenue comes from
KestrelPerps earns in two places, and both are ordinary product revenue rather than anything issued by the token contract.
- A fee on routed real volume. On real trading we take 1 basis point, 0.01% of notional. The protocol ceiling is 0.1% and we sit at a tenth of it. You approve a 0.05% maximum once, which leaves headroom without a second approval. Funding is paid between traders and is not ours.
- Market creation fees. Anyone can open a demo market for an asset that does not have one, for a real on-chain fee of 0.01 ETH, paid to the treasury at 0x130dF20141beB7DB58E8bc8481755328fd3A093b.
We describe these so you can see what the business does, not to imply a payment to you. There is no mechanism in the PERPS contract that pays holders, and this page does not commit to creating one. Do not read revenue as distribution.
What PERPS is not
- It is not a claim on revenue, fees, treasury assets or equity.
- It is not a yield-bearing instrument. There is no advertised rate, because there is no rate.
- It is not collateral. Trading collateral is USD-denominated, in both systems.
- It does not reduce your trading fee, change funding, or alter the venue's risk engine.
- It confers no governance right and no right to any future distribution.
Risk
PERPS is a low-liquidity token on a young chain. Its price can fall to nothing, quickly, and you may be unable to sell at any price if there is no depth on the other side. Buying to reach a tier threshold means taking that exposure in addition to the exposure of whatever you then trade. A tier that costs more than it saves you is a bad trade, and for most sizes it will be.
Nothing here is financial advice, and we are not licensed to give it. Assume the tokens you buy can go to zero and size accordingly. If you want to understand the risk of the product itself before you consider the token, read risk and security first. Announcements about the token, if there are any, come from https://x.com/poolsperps and from these docs, never from a direct message.