what's derp.trade?

derp.trade is a decentralized perpetual futures trading protocol on Solana designed for leveraged trading of any on-chain asset, including illiquid memecoins and niche tokens. It introduces DERPs, synthetic perpetual contracts that enable long or short positions with up to 100x leverage without relying on traditional order books or deep liquidity. Markets are created permissionlessly and instantly by anyone, powered by AMM-based liquidity vaults that automatically balance positions, manage funding rates, and mitigate skew for efficient, transparent execution. The protocol integrates seamlessly with Solana ecosystems like Jupiter and Raydium, allowing users to track KOL PnL, hedge risks, or amplify bets on emerging assets. Vault providers earn fees and rewards while the system ensures oracle-independent pricing from spot pools, making high-speed, capital-efficient derivatives accessible to all traders.