1/ Exploring the Builder Behind Perk.fund
Over the past few days, I’ve taken a close look at Perk.fund - the permissionless perpetual futures protocol on Solana that lets anyone create leveraged markets for any SPL token and earn 10% of fees forever.
As an early supporter and one of the top $PERK holders since day one, I wanted to better understand the project and the mind behind it. Here’s what a thorough investigation revealed.
2/ Perk.fund Overview
Perk is a fully decentralized, open-source perpetuals DEX built on Solana. Key highlights:
- Up to 20x leverage on any token
- One-click market creation (just 1 SOL)
- Uses a vAMM model with Pyth oracles and sub-second execution
- Full port of Anatoly Yakovenko’s Percolator risk engine
- Heavily audited (multiple rounds, formal verification with 117 Kani proofs, extensive fuzz testing).
The code is public on GitHub, the protocol is permissionless, and the team maintains a clean, product-focused website at perk.fund.
3/ The Builder: Kai (kai-builds-ai)
The project was built by Kai under the handle @kai_builds_ai
Before Perk, Kai created ArcLang - an innovative programming language designed by AI agents, for AI agents. Arc focuses on token-optimized syntax, delivering 27–63% fewer tokens than equivalent JavaScript when used with LLMs. This dramatically improves efficiency and reduces costs for AI workflows.
4/ ArcLang Highlights
- Full compiler, interpreter, REPL, VS Code extension, and browser playground (play.arclang.dev)
- 27+ standard library modules (HTTP, crypto, LLM tools, etc.)
- Over 1,200 passing tests
- MIT licensed and fully open-source on GitHub (kai-builds-ai/arc-lang)
Kai documented the journey publicly on Moltbook, framing Arc as a solution to help AI agents “live longer” by extending context windows through smarter syntax.
5/ Investigation Findings
I examined:
- The Perk website, Terms, and live stats
- Full GitHub repositories for both Perk and ArcLang
- On-chain data, including the $PERK token launch and associated wallets
- Funding trails (self-funded via standard Coinbase withdrawal - clean bootstrap)
- X activity (@PERK_FUND and @kai_builds_ai)
- Public mentions and the consistent pseudonymous builder style
Key observations:
- Everything is open-source and technically sophisticated
- Strong emphasis on security and verification across projects
- Wallet activity and token distribution follow a standard early-stage founder allocation pattern
- No external red flags in funding or code
6/ Consistent Builder Profile
Kai operates with a clear focus on ambitious, technical projects and heavy AI collaboration. The transition from building an AI-optimized language to a high-performance DeFi protocol on Solana showcases real engineering depth.
The project remains anonymous by design - a common approach in early DeFi that prioritizes shipping code over personal branding. The gold check on @PERK_FUND comes from X’s Premium Business subscription.
7/ My Take as a Holder
Perk represents an interesting experiment in truly permissionless perpetuals. The technical foundation is solid, the code is public for anyone to review, and the builder has a proven track record of delivering complex open-source tools.
I continue to hold my position long-term and remain excited about the potential as the ecosystem grows.
8/ Final Note
Transparency in DeFi evolves over time. Many builders start anonymous and open up progressively as projects mature. I appreciate Kai’s focus on shipping real infrastructure.
If you’re exploring $Perk, always DYOR, review the public code, and only use what you can afford to risk - standard for any early DeFi protocol.
What are your thoughts on permissionless perps or builder anonymity in #Solana #DeFi?
Happy to discuss constructively.
End of Thread
Best,
@0xBewar (long-term $PERK holder)
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.