Tiers
PERPS holder tiers, what each one changes, and how the on-chain balance is read.
KestrelPerps has a token, PERPS, on Robinhood Chain. Holding it places a wallet in one of five tiers. A tier changes two things: the leverage ceiling offered to that wallet, and the multiplier applied to rewards. It does not change fees, does not change prices, and does not entitle a holder to yield or to any share of revenue.
The token
| Field | Value |
|---|---|
| Ticker | PERPS |
| Chain | Robinhood Chain, chain ID 4663 |
| Contract | Not deployed yet |
| Decimals | 18 |
| Total supply | 1,000,000,000 at launch |
The contract can be read on the explorer at robinhoodchain.blockscout.com. Tier status is not stored in an account on our side. It is derived from the balance held by the connected address.
The five tiers
| Tier | PERPS held | Leverage bonus | Reward multiplier |
|---|---|---|---|
| Unranked | 0 | +0x | 1x |
| Bronze | 10,000 | +5x | 1.25x |
| Silver | 100,000 | +10x | 1.5x |
| Gold | 1,000,000 | +20x | 2x |
| Diamond | 10,000,000 | +50x | 3x |
Thresholds are minimums. A wallet holding 500,000 PERPS is Silver, not part way to Gold. There is no interpolation between tiers and no partial bonus. Crossing the next threshold is what changes the numbers.
Leverage bonus
The leverage bonus is added to the ceiling a market already offers. It is not a discount, it is not free margin, and it does not reduce liquidation risk. Higher leverage means a smaller adverse move liquidates the position. A Diamond holder taking 60x on a thin market is closer to liquidation than a Bronze holder taking 15x on the same market.
Reward multiplier
The multiplier applies to rewards accrued through use of the product. It scales what a given amount of activity earns relative to an Unranked wallet. It is not interest on the tokens held, it is not paid for holding alone, and no amount of PERPS produces rewards without activity.
How the balance is read
Every time a tier matters, the balance is read from the token contract on Robinhood Chain at that moment. Nothing is cached as a permanent status, and there is no application form, no snapshot date, and no lock-up. Buy more and the tier moves up on the next read. Sell and it moves down on the next read.
Because the source of truth is the chain, a tier cannot be faked. It also cannot be granted manually. The only way into a tier is to hold the balance in the wallet that is connected. Tokens held in a different wallet, in a contract, or in a custodial account do not count toward the connected address.
Ceilings that still apply
A tier bonus raises a ceiling, it never removes one. Two limits sit above it.
- The overall cap is 100x. Bonuses are hard capped at that number. A Diamond bonus of +50x applied to a market already offering 25x does not exceed the cap here, but the cap is applied last in every case and no combination of tier and market can pass it.
- The market's own ceiling is derived from that market's real liquidity depth, and that derivation exists for a reason. Thin markets move on small orders. A bonus is applied on top of the liquidity-derived ceiling rather than replacing it, so the market keeps its own floor on how much leverage is safe to offer there.
base = leverage ceiling from that market's liquidity depth
bonus = tier bonus (0, 5, 10, 20 or 50)
ceiling = min(base + bonus, 100)The liquidity-derived base is set out in full on the leverage page. In short: over $2,000,000 of depth gives 25x, over $500,000 gives 20x, over $100,000 gives 15x, over $25,000 gives 10x, and below that the floor applies. The floor is 10x for tokenized equities and 5x for crypto, because an equity tracks a real instrument and is far less manipulable than a thin memecoin pool of the same size.
Where tiers apply
Tiers govern the leverage ceiling offered in the demo terminal, which is where the ceiling formula above is enforced server side. Real trading has its own limits: real markets run to leverage up to 40x, and real liquidation is set by the venue's risk engine using a maintenance margin that varies by asset and by position size. A tier does not override the venue's risk engine and does not raise a real market above its own maximum.
What tiers do not do
- They do not reduce the taker fee, which stays 0.06% on notional in the demo, charged on open and on close.
- They do not reduce our fee on routed real volume, which is 1 basis point for everyone.
- They do not change the price you get. Demo fills are computed server side from the live on-chain price for every wallet alike.
- They do not move the demo liquidation threshold, which stays at a loss reaching 90% of margin.
- They do not confer custody, control, or any claim on funds. Real trading remains non-custodial and collateral stays yours.
- They do not promise a return. PERPS is a utility for access, not an income instrument.
Checking your tier
- Connect the wallet that holds the PERPS.
- Confirm the network is Robinhood Chain, chain ID 4663.
- Open the terminal. The tier and the resulting ceiling are shown against the market you have selected, since the ceiling depends on that market's depth as well as your tier.
- If the tier looks wrong, check the balance on the explorer for that exact address. What the contract returns is what we read.
Reading a balance costs nothing and needs no signature. Buying PERPS is a normal on-chain swap and costs gas in ETH, like any transaction on Robinhood Chain.