Perpetual Protocol (PERP) - a decentralized exchange (DEX) for Ethereum and xDai futures. Traders can go long or short with 10x leverage on a growing number of assets such as BTC, ETH, DOT, SNX, YFI and more.
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History of Perpetual Protocol (PERP)
Traders always retain ownership of their assets on-chain as well. The Perpetual Protocol uses a Virtual Automated Market Maker (vAMM) that provides on-chain liquidity with predictable prices, set by constant product curves. In addition, Perpetual Protocol designed its vAMMs to be market-neutral and fully provisioned.
The stated vision of Perpetual Protocol - to create the world's best, most accessible and secure decentralized derivatives trading platform. By building on other DeFi projects and allowing projects to build on this protocol, the company is adhering to the “DeFi money lego” spirit. Having achieved success in its roadmap, such as launching staking pools and implementing limit orders, Perpetual Protocol plans to expand to other chains, adopt leveraged tokens and launch dynamic liquidity in its pools.
Protocol uniqueness
The goal of PP - to create a perpetual contract trading platform that anyone can use. To do this, users must be able to trade with good liquidity and low slippage. Perpetual Protocol solves this problem with its vAMM solution. The advantages of the protocol are as follows:
| Model | The Perpetual Protocol does not follow the usual order book model of centralized exchanges. Instead, traders trade against a virtual automated market maker whose initial liquidity is set by the operator. |
| Perspective | There is no need to have liquidity swaps, as vAMM functions as a count of all trades and automatically balances in the long run. In practice, Perpetual Protocol trades are all settled in USDC. |
Using the vAMM model and building an exchange on xDai, traders can enjoy on-chain trading without commissions and instant settlement. In addition, Perpetual Protocol supports gasless deposits over $500, which means traders can deposit with 0 ETH in their wallets.
Buying tokens
The total supply of PERP - 150 million. The current circulating supply of PERP - 68.7 million. PERP - a utility token that incentivizes and facilitates decentralized protocol governance. PERP is available on:
- UniSwapV2;
- Binance;
- Kraken;
- FTX;
- Gate.io.
The protocol has been verified by Consensys and Peckshield. It is community driven and has a program for developers to find bugs in smart contracts.