update: the $SOL long backing the $PERPSPAD token has ballooned to more than 220k in size, over 2200 SOL
the position is growing continuously through fees generated by the token swaps and is finally in profit, which will be used to buyback and LP
fascinating to watch this play out, this is the largest perps position tied to any existing token and is presumably only going to grow in size
watch the position trade here:
the @PerpsPadfun built something really novel here, really excited to watch this token ecosystem develop on @PhoenixTrade
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i think @PerpsPadfun is the most novel and overlooked launchpad right now and has potential to really take off
the primary token $PERPSPAD is backed by a near 100k SOL long on @PhoenixTrade and it's adding to the long as more fees are generated by the token being traded
profit from the position goes back to buying and burning the token, really novel mechanism here
almost 20k in collateral for the position right now and growing every hour
think we see something really explosive come out of this ecosystem as market conditions shift
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