What is PERP token?

Modified on Wed, 13 Nov at 11:25 AM

PERP is the native token of the protocol. This ERC20-standard token is primarily a utility token for the protocol, designed to facilitate and incentivize the governance process. PERP holders gain a proportional voting right according to their token holding. Besides, the users can stake their PERP tokens in the staking pool for a certain time. The protocol rewards the stakers in PERP tokens.


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What Is Perpetual Protocol?


Perpetual Protocol is a decentralized exchange (DEX) for futures on Ethereum and xDai. Traders can choose the assets such as BTC, ETH, DOT, SNX, YFI, etc. Trading is non-custodial, meaning traders always retain possession of their assets and on-chain.


Perpetual Protocol utilizes a virtual automated market maker (vAMM), which provides on-chain liquidity with predictable pricing set by constant product curves. Furthermore, Perpetual Protocol designed its vAMMs to be market-neutral and fully collateralized.


Founders of Perpetual Protocol


Perpetual Protocol was launched by Yenfen Weng and Shao-Kang Lee, two Taiwanese cryptocurrency entrepreneurs who previously launched payroll & accounting companies for cryptocurrency startups. Most of their team is based in Taiwan.


Perpetual Protocol is backed by many highly reputable investors, such as Zee Prime Capital, Multiarrows Capital, CMS Holdings, Binance Labs, and Alameda Research, a strategic partner of FTX. With their backing, the company closed the seed round led by Multicoin Capital at $1.8M in 2020.


This digital asset contains the staking function. Investors should study information and risks carefully before making any investment. For more information, please click here.


References

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