Perpetual Protocol (PERP): Price Update, Recent Developments, Future Events, Community
- Decentralized exchange Perpetual Protocol is making waves in the market because of its incentives and utilities to traders.
- Perpetual Protocol offers up to 10x leverage for both makers and takers, increasing potential trader profits while boosting user experience.
- As the first virtual automated market maker (vAMM), Perpetual Protocol is making a mark among decentralized exchanges by only using a single asset as collateral for leverage.
- The price of PERP, the native token of Perpetual Protocol, has been up, trading above $13 as the surge in DEX continues.
The evolution of crypto exchanges is an achievement by developers, from centralized exchanges to perpetual future markets. DEXs are offering users on-chain trading and the ability to control their assets without them going to a third party. Although decentralized crypto exchanges have become popular, none has added the features of Perpetual Protocol. Crypto derivatives are assets that drive their value from an underlying asset. They include futures, options, and just recently, perpetual futures.
Perpetual Protocol takes pride in decentralization and community governance. Users can trade with 10x leverage, increasing profits while still being on-chain, as liquidity is robust. Perpetual Protocol is the largest derivative DEX by daily volumes and still maintains fast transaction times and low fees.
Perpetual Protocol is taking the DEX experience to a new level by launching the first-ever virtual automated market maker, removing the need for a third party while making the model more efficient by using just a single asset in the pool as collateral instead of both. The platform has set up its Insurance Fund to cover unexpected losses during leveraged trading.
Recent Developments and Future Events
The Perpetual Protocol is a growing platform with 15+ markets with new users signing up to trade perpetual futures more profitably and with ease. In addition, the platform is constantly entering into new partnerships and improving its services.
The platform launched its Grants Program to boost the adoption of perpetual trading. The grants team will control a $500k PERP fund, which will be used to fund teams that create content to improve the product’s brand awareness, develop on-chain strategies, and for the overall benefit of the community. The platform has so far partnered with Apex.win, Bankless DAO, and Frontier, etc.
Perpetual Protocol has also announced a partnership with WOO Network, a protocol that connects traders, exchanges, institutions, and DeFi platforms. The partnership will see WOO Network bring institutional liquidity to Perpetual Protocol via WOOFi.
The platform has also launched the much-anticipated V2, the Curie Release. The V2 brings new improvements to the table, such as scaling and UI and UX upgrades, flexible liquidity, and cross margin and multi collateral.
Furthermore, to boost and enhance trading on its platform, Perpetual Protocol has conducted its second trading competition.
The top 15 traders, according to their net profit, shared the prize money of $25,000. Finally, the platform also launched its open-source user interface.
Perpetual Protocol (PERP): Price Update
PERP is the native token of the Perpetual Protocol. As a decentralized exchange popular for trading perpetual, which gives traders the luxury to hold positions until an unknown future date, the token is sought after.
The token trades at $13.50649, which seems balanced at the moment. However, as the Chinese government pushes its crypto ban, traders are moving to decentralized exchanges.
The 24-hour price chart of Perpetual Protocol (PERP). Source: Tradingview
However, the boom didn’t affect PERP because it’s more focused on derivatives. As a result, PERP is down from its high at the start of September at $20. The token, however, recovered from the crypto market downturn from $6 two months ago.
A major rally may be expected as the rate of perpetual trading is rising due to its benefits. PERP is ranked #104 on CoinMarketCap with a market capitalization of $920,054,189.
On The Flipside
- Perpetual Protocol may maintain its current levels through the end of the year without going on a massive bull run.
- PERP ventured into an unpopular field in crypto trading, and its popularity may not happen in the short run.
Community
As a platform offering unique services, the Perpetual Protocol has introduced a decentralized system to increase community participation. Perpetual Protocol is a decentralized platform with users making governance decisions on the platform.
Perpetual Protocol recently launched its fund to boost its progress to a perfect DAO. In addition, the protocol has forums where users share ideas and proposals. Users are also encouraged to create materials for the promotion of the platform.
On social media, the DailyCoin team has seen the growing community of the Perpetual Protocol.
@auponly analyzed the market with positives for PERP;
The share of trading volume in DeFi derivatives trading set to outpace growth of CeFi volumes & the partnership w $PERP positions $WOO Network to internalize volume More order flow will be routed back to WOO Network’s liquidity for execution driving more revenue = token burns pic.twitter.com/jF9kw4jMv3
— auponly (@auponly) October 6, 2021
Another user, @Crypto_McKenna, praised the platform for its strategy;
I’m not going to lie but @perpprotocol has the best protocol strategy by far out of all the deriv DEX’s.
Pleasure to work with them. Big things coming.
— McKenna (@Crypto_McKenna) October 5, 2021
Twitter user @LadiesFact37 was excited about the partnership with the Woonetwork;
Done sirr, goodluck
— LadiesFact37!☇ (@LadiesFact37) October 7, 2021
Why You Should Care?
As the crypto market keeps expanding, traders are looking for new ways to make better income in the markets and have turned to futures and other derivatives. Perpetual Protocol takes it to the next level with perpetual trading, giving users better chances with robust leverage.
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Altcoin News, Community, Future Events, Perpetual Protocol (PERP), Price Update, Recent DevelopmentsRead More
OhNoCrypto
via https://www.ohnocrypto.com
, Khareem Sudlow
