every day, Solana perp traders pay $150–300 million a year in funding rates to stay long. that money goes somewhere. it goes to whoever is on the short side of those trades. for years, that "whoever" has been a mix of random traders, market makers, and protocols running delta-neutral desks. the returns are real. but capturing them has always required either being a sophisticated trader or trusting an opaque vault. @KimiaProtocol is building the infrastructure that makes perp funding into something anyone can own, trade, lend, or lock. Thread🧵🔻