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.
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.
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.
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.
- 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
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.
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.
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.
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)
Best,
@0xBewar (long-term $PERK holder)
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