@perpadfun

Perpad is a Solana-based meme coin launchpad with a novel mechanism: each launched token has a leveraged perpetual treasury that automatically buys and burns supply on price upticks.

The project appears to be in active development with recent infrastructure issues around hedge routing and silent fills.

However, the account creation date shows 2026-05-18 (future date/data error), the project has very low followers (1,499), and multiple tweets reference ongoing technical problems, maintenance, and routing venue failures.

Green flags: Novel mechanism combining meme launches with perp-backed treasuries · Open-source with GitHub repository linked · Transparent communication about technical issues and fixes · Active development with daily updates on infrastructure improvements

Red flags: Account creation date appears to be in the future (2026-05-18) indicating data error or suspicious timestamp · Multiple infrastructure failures mentioned (gmtrade routing failure, silent fills, orphaned positions) · Very low follower count (1,499) with minimal social proof · Ongoing maintenance and technical issues suggest product not stable · High-risk category (leveraged perp treasury mechanism) with unproven track record · Vague updates about delays and rebuilding core components