Since the announcement of our Grants Program, we’ve added several new partners to the list!
In this blog post, we’d like to showcase each one of our grantees, their current progress, and what they’re working on.
Apex.win
Apex.win is the largest third-party trading venue for Perpetual Protocol, enhancing open access to the protocol.
The venue currently provides advanced order types for Perpetual Protocol v1 on the xDai Chain, such as limit, stop, and trailing stop-loss orders. To date, it has contributed over $6M in trading volume to the protocol with consistent usage.
To drive the adoption of Perpetual Protocol and continue the transition toward a DAO structure, we’re thrilled to announce the formation of the Perpetual Protocol Grants Committee and the Grants Program governed by the committee!
The Grants Committee consists of eight members:
- two members of the core team — Yenwen and Nick,
- early investors — Fiskantes from Zee Prime Capital and Vishal from Multicoin Capital,
- A quant trader — Brian from CMS Holdings,
- active community members — Lanre, Snowledge, and Almccan
This committee will manage a fund of 500K PERP (~ $7.5M …
Perpetual Protocol is currently the largest decentralized perps exchange by daily trading volume, having captured 83% market share as of the beginning of June. To further secure this lead and become the go-to protocol for perp trading, we’re excited to announce the launch of the Perpetual Ecosystem Fund!
The Perpetual Ecosystem Fund is backed by 3 million $PERP (worth over $30M USD) from the partnership allocation of the Perpetual DAO. We will do token swaps with projects that
- have a good track record, and
- a viable business model to integrate with or develop on top of the protocol.
We believe…
Perpetual Protocol team introduced the much anticipated v2 on June 30th, 2021 to the community. This month’s community call, held on July 2nd, 2021 was an AMA dedicated to respond to community questions as regards Perpetual Protocol v2 — the Curie Release.
Thank you everyone for participating in the call! For those who were not able to join the call, the recording is available on Youtube and we’re sharing a summary of our Q&A session below.
AMA summary
Q: What is the user composition among professional and retail market makers and takers on professional perpetual protocol v1.
Nick: We group them…
Release highlights
- Scaling and UX enhancements
- Cross margin & multi-collateral
- Efficient, flexible liquidity
- Path to permissionless markets
Perpetual Protocol v1 was launched in December 2020, pioneering the virtual market maker model. In less than 7 months, the protocol has facilitated over $19bn in trading volume, making Perpetual Protocol the top decentralized derivatives exchange in the world.
We’re excited to announce the commencement of our second mainnet trading competition sponsored by Index Coop!
Here are the details you need to know 👇
📅 Competition Period
June 2 (Wed.) 14:00 UTC — June 9 (Wed.) 14:00 UTC
🏅 Prizes
The prize pool is 25K USD — 15K USD in INDEX and 10K USD in PERP. The top 15 traders ranked by net profit* across all of the markets on Perpetual Protocol at the end of the competition will share this prize pool according to his/her ranking.
- №1: $7,500
- №2: $5,000
- №3: $3,000
- №4~№10: $1,000 each
- №11~№15: $500 each
*Net profit includes your realized…
Open source interface
Perpetual Protocol has released an open source UI for developers and advanced users to deploy on local servers or as online front-ends.
View the github repo here:
Our 4th community call was held on April 19, 2021, where we had a mini-interview with Igor Barinov from xDai and addressed the weekend flash crash. Thank you everyone for participating in the call!
For those who were not able to join the call, we have uploaded the recording on Youtube and we’re sharing a summary of our Q&A session below.
Q: How is the research of shifting from the simple xyk curve going?
Yenwen: We have addressed our long/short skew issue in our previous community call. In our V1 design, Perpetual Protocol does not participate the market, which means…
What happened?
Beginning at roughly 11:30 AM UTC+8 on April 18, 2021, a flash crash affected the ETH/USDC market on Perpetual Protocol. Following a period of high volatility on both centralized and decentralized markets, we saw a period of instability across all exchanges as the price of ETH dropped significantly.
What resulted was a cascade of liquidations of large and highly levered positions — the price reached a low of nearly $870 USD before recovering back to the market price.
Price of ETH/USDC perpetual on Binance during the same period, with a low of $1900.
Perpetual Protocol has launched a Pool Together campaign to reward traders.
Note: This is totally separate and unrelated to PERP staking.
How it works
Starting April 19, 2020, all traders on Perpetual Protocol will accumulate a new token — pPERP.
Each week, these tokens will be airdropped to your address.
You can then stake the tokens on Pool Together for a chance to win tasty prizes!
Pool Together
pPERP tokens staked on Pool Together will give you the chance to win every week.
10 traders will win $500 worth of PERP every week!
The more pPERP tokens you have & stake, the higher your chances…
