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About Perpetual Protocol
Perpetual Protocol is a dispersed marketplace (DEX) for Ethereum and xDai futures. Traders have a chance to carry out large or small operations together with plastic leverage up to ten times in an increasing number of assets, such as BTC, ETH, DOT, SNX, YFI, and others.
Trading activity is carried out in the absence of guardianship, in this case, some traders constantly hold the possibility of property in their assets and in the chain.
Perpetual Protocol uses a conditional mechanical market maker (vAMM), which guarantees high liquidity in the chain together with predictable pricing determined by stable curved provisions.
In addition, Perpetual Protocol has similarly created its vAMMs, so that they exist bazaar-neutral and entirely deposit-guaranteed.
The declared vision of Perpetual Protocol is to form the best in the community, the most easily accessible and the most non-threatening distributed platform for derivatives trading.
Based on our DeFi plans and allowing the plans to create Perpetual Protocol in the base, the company realizes the “DeFi money lego” rule.
Already after accomplishing several omegas in its roadmap, such as the launch of betting pools and the introduction of limit and stop orders, Perpetual Protocol is going to grow into other chains, to introduce tokens together with plastic leverage and to activate dynamic high liquidity in its pools.
Who exactly are considered the founders of the Perpetual Protocol?
Perpetual Protocol was launched by YenfenWeng and Shao-Kang Unit, two Taiwanese cryptocurrency businessmen who previously quit payroll and accounting firms for crypto startups.
A significant portion of the instruction is based in Taiwan. Perpetual Protocol is held by almost all influential traders, such as Zee Prime Capital, Multiarrows Capital, CMS Holdings, Binance Labs, and Alameda Research, a cunning member of FTX.
In the presence of their help, the company covered the seed stage near the management of Multicoin Capital in the necessary amount of $1.8 million in 2020.
What makes Perpetual Protocol unique?
The goal of Perpetual Protocol is to create a platform for trading permanent contracts, which can be used by every aspiring person.
For this purpose, users must have a chance to trade with optimal liquidity and low slippage.
Perpetual Protocol solves this problem with the support of its own vAMM solution.
Perpetual Protocol is in no way guided by the usual modification of the order book of concentrated exchanges.
Instead, traders trade against a conditional mechanical market maker, the initial high liquidity of which is entered by the operator.
For example, the dispatcher determines the high liquidity of vAMM in the degree of 100 vETH – 40 000 vDAI.
This one, who exactly writes DAI, to enter the long transaction according to ETH, will induce the cost of ETH upwards and form a motive to enter the short transaction according to vETH, in case the cost does not meet the bazaar rates.
Traders going into a short trade according to vETH will also bring DAI as a down payment and return the vETH value to the equilibrium position. There is no need for liquidity swaps, as vAMM acts as an equal expense meter of absolutely all transactions and automatically finds a balance in the long-term possibility.
In practice, all transactions in Perpetual Protocol are in USDC without exception.
Due to the use of this modification of vAMM and the formation of the exchange in xDai, traders have all chances to enjoy selling in the chain in the absence of commissions and instant settlements.
In addition, Perpetual Protocol holds gas-free deposits in the required amount of more than Five hundred USDC, which means that traders have all chances to complete the result together with 0 ETH in the wallet.
How secure is the Perpetual Protocol network?
Perpetual Protocol has been tested by Consensys and Peckshield. The act is a public policy and contains project fees for creators who find faults in smart contracts. The line is located in xDai, and the PERP token is the ERC-20 token in Ethereum.
ERC-20 is the token pattern that guides most of the newest tokens to be published on the Ethereum blockchain.
Ethereum is only one of the most well-known blockchains with the purpose of the Way, which is guaranteed by a proof-of-work consensus device that triggers miners to mine the newest Ethers.
A set of dispersed constructs proves transactions and guarantees the security of the Ethereumblockchain.
The Perpetual Act uses Chainlink as an oracle to pay the funding rate but does not contain any oracle in the chain as a pricing device to avoid flash credits to manipulate the value of the underlying assets and generate revenue from Perpetual within the same transaction.
How to get PERP tokens?
PERP tokens can be obtained on cryptocurrency exchanges such as Binance, FTX, or Uniswap.
As part of the liquidity mining program, each market currently allocates 5,000 PERP as weekly rewards to liquidity providers, which are paid every Monday.
These rewards are paid in proportion to the amount of liquidity provided to the pool.
For example, if the pool size is $1 million and a liquidity provider provides $100,000 worth of assets, they will receive 10% of that week’s liquidity mining reward (500 PERP).
PERP tokens can also be earned by participating in the Grants program, which involves building products based on Perp v2 and expanding the ecosystem. All proposals go through GrantsDAO, and if approved, creators can earn PERP tokens for their contribution to the project.
Where can I buy Perpetual Protocol?
PERP tokens can be exchanged on centralized cryptocurrency exchanges.
The most popular exchange to buy and trade Perpetual Protocol is Binance, where the most active PERP/USDT trading pair has a trading volume of $1,234,142 in the last 24 hours.
Other popular options include BingX and MEXC.
What is Perpetual Protocol (PERP)’s daily trading volume?
Perpetual Protocol (PERP) has a trading volume of $4,612,267 in the last 24 hours, down -2.00% from a day ago, indicating a recent decrease in market activity.
What is the all-time high for Perpetual Protocol (PERP)?
The highest price paid for Perpetual Protocol (PERP) is $24.40 which was recorded on August 30, 2021 (over 2 years). Comparably, the current price is 95.61% below the historical high.
What is the historical low for Perpetual Protocol (PERP)?
The lowest price paid for Perpetual Protocol (PERP) is $0.3164 which was recorded on November 09, 2022 (about 1 year). Comparatively, the current price is 238.82% higher than the all-time low price.
What is Perpetual Protocol (PERP)’s market capitalization?
Perpetual Protocol (PERP) has a market capitalization of $77,854,603 and is currently ranked #439 on CoinGecko.
Market capitalization is measured by multiplying the token price by the circulating supply of PERP tokens (73 million tokens traded on the market today).
How does Perpetual Protocol work?
Perpetual Protocol’s Curie (AKA Perp v2) utilizes a vAMM model using Uniswap v3 as the execution layer to provide perpetual swaps, offering concentrated liquidity for makers.
Benefits include improved slippage and capital efficiency. Transactions are executed against these pools of assets provided by liquidity providers, who in turn receive a share of the fees received.
The real assets are held in a smart contract clearing house that manages the USDC-denominated vAMM collateral.
Each perpetual contract has its vAMM, but all are protected by a protocol insurance fund.
The vAMM mints virtual tokens (or v-tokens), which are placed in Uniswap v3 pools to provide liquidity.
Traders can use this liquidity to buy or sell v-tokens to take long or short positions in an all-cash manner.
For example, when a user deposits 1,000 USDC, their purchasing power is calculated as 10,000 USDC.
If a user wants to take a long position in BTC and the price is $20,000, they can use 10,000 vUSD tokens that they can monetize to open a 0.50 BTC position by buying 0.5 vBTC tokens from the BTC-USD pool.
At the close of the trade, the trader must return 0.50 vBTC to the pool. The profit or loss paid in USDC is equal to the difference between the entry price and the price at which the position was closed.
For example, if bitcoin rises to $25,000 and the long position is closed, the trader will return 0.50 vBTC to the pool and make a profit of approximately 2,500 USDC.
Like Uniswap v3, Chainlink oracles are another fundamental component of the Perpetual Protocol that determines the price of the index.
This also means that any asset with a Chainlink price feed can be represented on the platform as a perpetual market.
In the future, Perp v2 will include non-perpetual markets.
These markets will have their isolated insurance funds, allowing anyone to create a perpetual futures swap market for any asset with a Chainlink price feed.
What is the fully diluted valuation of Perpetual Protocol (PERP)?
Perpetual Protocol (PERP) has a fully diluted valuation (FDV) of $160,834,765.
This is a statistical representation of the maximum market value assuming the maximum number of PERP tokens in circulation today is 150 million.
Depending on how the PERP token issuance schedule works out, it could be several years before FDV is realized.
How does Perpetual Protocol’s price performance compare to its peers?
With a price drop of -4.00% over the past 7 days, Perpetual Protocol (PERP) is lagging behind the global cryptocurrency market, which is up 0.70%, and is lagging behind its Ethereum Ecosystem cryptocurrency peers, which are up 12.70%.
How to add Perpetual Protocol (PERP) to MetaMask?
By adding Perpetual Protocol (PERP) to MetaMask, you will be able to view your tokens, trade on decentralized exchanges, and more. To add them, you need to import PERP as a token.
You can copy the PERP contract address (0xbc39668989893d065f41bc2c6ecbee5e0085233447) and import it manually, or, if you’ve installed the MetaMask extension for Chrome, add the PERP to MetaMask with a single click on CoinGecko.
