PERP

Perpetual Protocol price

PERP
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3.3/5
CyberScope
3.9
05/20/2024
TokenInsight
2.8
12/18/2022
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USD
USD
$1.0230
+2.65%
1h
24h
1W
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Perpetual Protocol price live data

The current price of Perpetual Protocol is $1.0230. Since 00:00 UTC, Perpetual Protocol has increased by +2.66%. It currently has a circulating supply of 72,609,864 PERP and a maximum supply of 150,000,000 PERP, giving it a fully diluted market cap of $74.28M. At present, Perpetual Protocol holds the 184 position in market cap rankings. The Perpetual Protocol/USD price is updated in real-time.

Perpetual Protocol price performance in USD

Time periodChange amount%Chg
Today$0.026500 +2.65%
7 days$0.034200 +3.45%
30 days-$0.12590 -10.96%
3 months-$0.35580 -25.81%

Perpetual Protocol market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$0.97760
Last price $1.0230
24h high$1.0246
Heat index ranking
149
Market cap ranking
184
Market cap
$74.28M
Favorited rate
Percentage of users who favorited this asset to all users
1.55%
All-time high
$25.2430
-95.95% (-$24.2200)
Aug 30, 2021 (3 years ago)
All-time low
$0.31000
+229.99% ($0.71300)
Nov 10, 2022 (2 years ago)
ICO date
09/09/2020
ICO price
The price at which this crypto was first traded
$1.2000
Circulating supply
The amount of this crypto that is publicly available in the market
72,609,864 PERP
Market cap at circulating supply
Market cap = Circulating supply × Last price
$153.45M

About Perpetual Protocol (PERP)

Amid the growing popularity of decentralized finance (DeFi) platforms and decentralized exchanges (DEX), Perpetual Protocol has emerged as a notable player with its native token PERP. Perpetual Protocol offers a unique decentralized perpetual contract trading experience, allowing users to trade perpetual contracts.

Powered by its native token, PERP, Perpetual Protocol is designed to serve both seasoned traders and blockchain newcomers, offering them the chance to participate in perpetual contracts for various assets.

What is Perpetual Protocol?

Perpetual Protocol stands as a DeFi initiative driven by code, effectively bypassing the necessity of financial intermediaries. This platform enables the trading of perpetual contracts through its virtualized automated market maker (vAMM). A noteworthy characteristic is its capacity to accommodate diverse assets, granting users considerable versatility in their trading preferences. Setting it apart from other decentralized exchanges (DEXs), Perpetual Protocol is purpose-built for leverage trading, short positions, and maintaining minimal slippage levels.

The Perpetual Protocol team

The Perpetual Protocol team comprises experienced professionals with a wide range of expertise. Yenwen Feng, the co-founder, and CEO, brings his finance and technology background and entrepreneurial drive to lead the team. Shao-Kang Lee, the co-founder and CTO, is a skilled software engineer focused on developing decentralized applications (DApps).

As the head of marketing, Hana Chang leverages her expertise in marketing and communications to promote the protocol. Nicholas Tong, the head of strategy, draws from his experience in finance and strategy to steer the project's direction. Wei-Ting Chen, a staff software engineer, contributes his skills in decentralized application development to the team's efforts.

How does Perpetual Protocol work? 

Perpetual Protocol operates within a dual-layered structure. The initial layer resides on the Ethereum network, housing the PERP token and serving as the governance hub for the protocol. The second layer operates on the xDai Chain, hosting all trading activities. These two layers harmonize through bridges, ensuring efficiency and security in the protocol's operations.

The protocol also harnesses a virtual Automated Market Maker (vAMM). Unlike traditional spot exchanges, this technology is explicitly tailored for price discovery. It's important to note that the vAMM doesn't hold actual crypto assets but utilizes smart contracts. These contracts allow users to engage in long and short positions, functioning as the protocol's clearing house and collateralization vaults.

PERP: Perpetual Protocol’s native token 

PERP is the native token of Perpetual Protocol, serving various essential functions within the ecosystem. As a utility and governance token, it empowers users on the platform. PERP is utilized for staking, paying transaction fees, and participating in governance votes, making it a crucial element in maintaining and managing the protocol's ecosystem.

PERP tokenomics

PERP tokens play a significant role in the Perpetual Protocol ecosystem, serving multiple purposes. They are used for paying trading fees, participating in governance decisions, and securing the network. A total supply of 150 million tokens is distributed through mechanisms such as an initial DEX offering (IDO), liquidity mining, and staking. A portion of the trading fees is burned daily to maintain a deflationary model. These tokenomics are thoughtfully designed to incentivize user engagement, ensuring the long-term sustainability of the Perpetual Protocol network.

How to stake PERP

To stake PERP in the Perpetual Protocol, you must deposit your PERP tokens into the staking pool. By doing so, you become eligible to receive staking rewards, which are derived from a portion of the transaction fees generated on the platform. Staking also allows you to actively participate in the protocol's governance process by voting on various proposals that shape the platform's future.

Additionally, you can explore other options for staking PERP, such as using cryptocurrency exchanges like OKX TR. On platforms like OKX TR Earn, you can stake your PERP tokens and earn an estimated one percent annual percentage yield (APY) on flexible terms. With flexible staking, you have the freedom to start earning rewards immediately and the flexibility to unstake your PERP tokens at any time.

PERP use cases

Perpetual Protocol offers a decentralized avenue for trading perpetual contracts spanning diverse asset categories such as cryptocurrencies, commodities, indices, and, soon, traditional assets. These perpetual contracts can be practical hedging tools, reducing risk exposure during market volatility. Central to this ecosystem, the PERP token carries its own practical applications. It can cover transaction fees within the DEX platform, streamlining user interactions. Moreover, PERP token holders are empowered to actively engage in governance matters by participating in crucial decisions that shape the trajectory of the Perpetual Protocol.

Distribution of PERP

PERP tokens are distributed as follows:

  • Twenty percent were sold in an initial DEX offering (IDO) in December 2020.
  • Fifty percent were distributed through liquidity mining campaigns in 2021.
  • Thirty percent will be gradually distributed to stakers over time.

Perpetual Protocol: The road ahead

Perpetual Protocol has an ambitious roadmap ahead. The team is focused on expanding its product offering by introducing new types of perpetual contracts, covering a wider range of assets, and incorporating innovative trading mechanisms. They are also determined to enhance the overall user experience by improving the protocol's scalability, security, and user interface. Additionally, Perpetual Protocol aims to forge strategic partnerships and collaborations with other prominent DeFi projects to drive adoption and increase liquidity on the platform.

PERP FAQ

How does Perpetual Protocol ensure the stability and efficiency of its perpetual contracts?

Perpetual Protocol ensures the stability and efficiency of its perpetual contracts through an innovative automated market maker (AMM) system. This system utilizes virtual balances and funding rates to keep the price of perpetual contracts in line with the underlying assets. By dynamically adjusting funding rates based on supply and demand, Perpetual Protocol reduces price discrepancies, ensuring fair and accurate pricing for perpetual contracts and providing users with a stable and efficient trading experience.

Can I provide liquidity to Perpetual Protocol and earn rewards?

Yes, you can provide liquidity to Perpetual Protocol and receive rewards. Adding liquidity to the protocol's liquidity pools enhances the market's depth and liquidity. As a liquidity provider, you will earn a share of the trading fees generated by users of Perpetual Protocol. This incentive encourages users to participate in the liquidity provision, supporting the protocol's efficient operation and rewarding contributors.

Where can I buy and store PERP?

Easily buy PERP tokens on the OKX TR cryptocurrency platform. Available trading pairs in the OKX TR spot trading terminal include PERP/USDT. You can also buy PERP with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), are also available.

Additionally, swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for PERP with zero fees and no price slippage by using OKX TR Convert.

To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into PERP, visit the OKX TR Crypto Converter Calculator. OKX TR's high-liquidity crypto exchange ensures the best prices for your crypto purchases.

OKX TR provides a highly secure and multi-chain OKX TR Web3 Wallet with all OKX TR accounts. It can safely store PERP or any other cryptocurrency for as long as needed. In addition, the OKX TR Web3 Wallet features bank-grade security and inbuilt access to hundreds of decentralized applications (DApps) and the OKX TR NFT Marketplace.

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1 PERP ≈ $1.0230 USD
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