Perpetual Protocol distinguishes itself in the DeFi space by offering unique perpetual futures contracts. The platform's governance, driven by PERP token holders, combines community input with team oversight, encompassing a detailed process from proposal to vote, ensuring democratic decision-making. Financially, Perpetual Protocol has shown strength, raising $1.8 million in August 2020 from notable investors, including Multicoin Capital and Three Arrows Capital, showcasing its market credibility and potential for growth in the DeFi space.
Value Proposition:
Perpetual Protocol is built on OP Mainnet and specializes in offering perpetual futures contracts, which unlike traditional futures, have no expiration dates and are settled daily. This allows traders to take long or short positions on a variety of assets, including cryptocurrencies, stocks, and commodities. The platform's use of an automated market maker (AMM) system ensures liquidity. Additionally, the governance of the protocol is community-driven, with the PERP token allowing holders to participate in key decisions like fee rates and asset listings. This combination of perpetual contract flexibility, liquidity provision through AMM, and decentralized governance makes Perpetual Protocol an innovative player in the derivatives market.
Governance:
Perpetual Protocol's governance operates through a hybrid model that balances community-driven decision-making with foundational team oversight. The Perpetual DAO, where PERP token holders have voting rights, forms the core of this governance structure. It's supported by various sub-DAOs responsible for distinct protocol aspects, including grants, token listings, and community initiatives. The governance process is comprehensive, involving proposal submission, temperature checks, discussion periods, and official votes, with proposals requiring a minimum quorum of 10% of all voting power for approval.
Tokenomics:
PERP is a utility token used for governance and staking with a fixed supply of 150 million PERP. Perpetual protocol has transitioned to a vote-escrowed tokenomic model. The utility of vePERP is centered around reward distribution. Its first use case was to overhaul the referral rewards program. The program allows referral partners to earn a share of the fees generated by referred traders depending on the proportion of vePERP they hold relative to all other referral partners.
Previous Funding:
Perpetual Protocol has raised funding for its development and operations. In August 2020, the project secured $1.8 million in a funding round led by Multicoin Capital, with participation from notable investors like Three Arrows Capital, CMS Holding, and Alameda Research.
