With the recent popularity of Protocol Like Uniswap, hundreds of protocols have been launched and become the trading system that runs on top of the Ethereum blockchain. Thanks to the strong growth of its platform, Perpetual Protocol (PERP), belonging to the group of automatically decentralized exchange (DEX) based on Ethereum, becomes more and more popular.
In this article, let’s explore the potential of Perpetual Protocol:
1. What is Perpetual Protocol? What is the meaning of Perpetual Protocol?
Perpetual Protocol (PERP) is a decentralized protocol for trading perpetual contracts for any asset from gold, crude oil or crypto or fiat… Being in the form of Decentralized Exchange (DEX), PERP will create futures contracts with no expiration or settlement instead of depending on another platform as Centralized Exchange (CEX).
Perpetual Protocol (PERP) will help users avoid the attack of hackers by accessing the market without intermediaries, self-control and managing personal assets. In addition, PERP helps to solve problems related to transparency and account control. All transactions are operated with Smart Contract on Ethereum and soon managed by DAO. In addition, users can access the platform to use without restriction of rights no matter who, where and when.
2. How Perpetual Protocol works
Perpetual Protocol is inspired by the constant product formula- Uniswap and, being built by Automated market makers (AMM). Perpetual Protocol differentiates from Uniswap by the ability to program and update vAMM parameters (x*y=k) and can produce competitive products for all markets and at any time.
Perpetual Protocol transactions pay in USDC, so the collateral used on the exchange is USDC. To make a transaction, please follow these steps:
Step 1: Trader sends money to Clearing House and provides information about leverage.
Step 2: Clearing House sends money to Vault. In addition, the changes made by housemakes to the platform’s vAMM to specify the deposit, leverage, and to determine if it is a long or short position.
Step 3: Step 3: Calculate the amount credited to the trader using the constant-product curve.
Step 4: Traders can then completely close the position at will. In particular, the network works on a win-lose basis, so in a transaction there will be winners and losers.
3. Information about PERP Token
PERP token is Perpetual Protocol’s ERC-20 native token, powering the whole system in two ways：staking and governance.
- Name: Perpetual Protocol token
- Abbreviation: PERP
- Token Network: Ethereum
- Total Supply: 150,000,000 PERP
- Website: https://perp.com/
Trading PERP/USDT with 5ROI Global right here
Risk Disclaimer:
For investors, trading digital assets is both an opportunity and a challenge with outstanding profit potential. 5ROI Global only provides useful information for investors to grasp, refer to and not provide financial investment advice of any kind.
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