During this Community Talk, @arielfliete walks us through the workings of the Perpetual exchange and the PERP-Token with special guest @JHolme5 from perp.com. We invite you to follow the presentation as the community dives deeper into the following talking points:
What is Perpetual?
Decentralized Exchange (DEX) - users have self-custody over assets
Perpetual futures (no expiration) & up to 10x leverage
Builder-ready composability - other protocols can build on top of the exchange (e.g., structured products, add exchange to metaverse)
Tokenomics:
PERP is the governance token
Perpetual supports USDC, FRAX, ETH and OP as collateral
The clearing house smart contract manages trading and LPing via virtual tokens
PERP holders lock tokens and receive vePERP, which enables them to receive rewards
Updates:
Implemented the voting escrow (vePERP)
vePERP improves governance by granting extra voting power to long-term ho
vePERP holders can earn referral rewards and 10% of protocol fees (in PERP)
Protocol fees will be distributed to users in USDC in the future to improve yield quality
Perpetual will increase vePERP utility by requiring it to distribute LP rewards
Value Creation:
Liquidity / financial products
Market making
Composability
Deployed on Optimism
Uniswap V3 liquidity pools
Value Capture:
Trading fees (0.1%)
Fees accrue to traders / LPs
USDC yield switch
Resources:
Published article -
Twitter thread -
Watch this episode on YouTube:
Disclaimer:
Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This recording is not tax advice. Talk to your accountant. Do your own research. None of this is legal advice. This community talk is strictly educational. Talk to your lawyer.
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Tokenomics Community Talk: Perpetual (PERP)