Proposal : Whitelist Perpetual Protocol (PERP)

Whitelist PERP

This Proposal is expected to appear in snapshot on Monday June 28, 2010

TLDR;

  • Whitelist Perpetual Protocol (PERP)
  • Default 20K Co-Investment
  • Lucrative Consistent Volume, Large DEX Pools.
  • There are no apparent Security Concerns.

Website : perp.fi

Contract Address : 0xbc396689893d065f41bc2c6ecbee5e0085233447

Token Security

Perpetual Has passed multiple audits swell as received investments from many top-tier groups which all do their own in-house audits. The PERP Token is primarily a ERC-20 utility token with governance and staking built in. Staking has a small lockup attached and a 6 Month Vesting on Rewards.

PERP is not an elastic supply token nor does it have a rebase mechanism.

Distribution : (Most Big Wallets are Top Tier Exchanges, as they were early investors.)


Project

Perpetual Protocol lets you trade a wide range of assets, including short selling up to 10x Leverage. By Daily Trading Volume PERP is the largest derivatives DEX. (Dune : Dune Analytics)

From a economic perspective PERP’s ratios across SUSHI and UNIV2/V3 is exceptional and very consistent. Volume is around half of all liquidity for a 24HR period at all times with some days being even more exceptional. I think this token warrants a large co-investment to make us competitive but I would first like to see it Whitelisted and Enabled so that we don’t have a empty pool.



Perpetual Protocol Details

PERP Price $4.99
Market Cap $135,378,491
Market Cap Dominance 0.01%
Trading Volume $21,428,430
Volume / Market Cap 0.1587
24h Low / 24h High $4.84 / $5.57
7d Low / 7d High $4.49 / $7.61
Market Cap Rank #211

Community and Communication

Twitter

Telegram

discord.com

Dune Analytics : Dune Analytics

Available Audits

PeckShield : publications/perpfi_audit_report_2020_46_en_1_0.pdf at master · peckshield/publications · GitHub

Consensys : Ongoing.

Should also be noted that Perpetual has purchased coverage for all the protocols users from Nexus Mutual (NXM) and Unslashed Finance to cover users in the event of a smart contract bug or exploit. These entities do their own due diligence and in-house audits to determine wether to offer coverage and have deemed it safe enough to issue insurance. NXM is the same firm that offers coverage for Bancor’s Impermanent Loss Protection.

6 Likes

Thanks a lot for this suggestion.its a really a big help.

2 Likes

Nice find. I was thinking about $PERP recently. It could be an excellent fit. I agree with the small co-investment; could even go smaller to start, but I am comfortable with 20k.

I will see if we can reach out to their team to discuss.

4 Likes

This proposal has my support, but I’m not yet sure I can vote on it. Perpetual is a promising project, with many possibilities in many areas; I would very much like to explore these sometime. I’m not quite sure I fully understand it–the ‘Virtual AMM’ is really throwing me for a loop. If I’m reading the docs correctly, nothing is swapped and no liquidity providers are involved–so do the positions exist “on paper” only? How does that work? I feel a bit like I’m missing something; or is it really that simple?

1 Like

Good proposal, I just took a look at their trading pairs and didn’t see BNT-USD :frowning: . I went ahead and made a request via the “looking for other pair?” option. One other thing, not available to US users for obvious reasons but wanted to mention it here.

1 Like

It’s a derrivatives contract as opposed to spot. derivatives don’t require the actual asset in play just a party with a mirroring counter offer. If price deviates from real price shorts pay longs or longs pay shorts a small amount to fix price, price is taken from an oracle. PERP uses chainlink as its oracle service.

2 Likes

I see, everything makes perfect sense now. That’s an interesting concept! Alright, now that I know what’s going on, I can say that I will vote FOR this proposal.

1 Like