A statement on @TryLeveragePad. We are not the same. phi is Solana's perpetual futures exchange for memecoins: an on-chain program, not a website in front of a wallet. Where your money lives Leverage Pad takes deposits into a single wallet and tracks balances on its server. That wallet holds 0.003 SOL right now. It held 3.7 SOL this morning. On phi there is no deposit wallet. Every position is its own account on Solana, every payout is made by the program, and your maximum win is reserved in the vault before the trade can open. If the vault can't pay it, the trade doesn't open. Where the money comes from Leverage Pad's coin earned ~170 SOL in creator fees. It went to a team wallet. 100% of $PHI creator fees are locked to phi's vault on-chain, forever. In the first ten minutes of $PHI, they took the vault from 4.94 to 9.76 SOL. Every open (0.30%), every hour of funding (0.05%), and every losing stake flows there too. Why it can't be gamed Thin pools are easy to push. A venue that pays out on a pushed price gets drained by it. phi is built so that never pays: • No oracle. Every price is read straight from the coin's own pool. • Every open, close and liquidation settles at the worse of the live price and the price a few slots earlier. Push and cash out in the same moment, and you get nothing. • Each side of each market is capped by the depth of its pool, so pushing the price costs more in swap fees than the positions could ever win. • Every position is held for ten minutes. A push has to survive the whole market. • No single position can use more than 20% of the vault, and everything owed is reserved up front. The vault can never owe more than it holds. Hyperliquid showed what an exchange can be when it runs on-chain and is backed by its own vault. phi is that, for memecoins. phi.trade