|All Time High:|
|Market Cap: |
|The price of #PERP today is $0.69 USD.|
The lowest PERP price for this period was $0, the highest was $0.685, and the current live price for one PERP coin is $0.68543.
The all-time high PERP coin price was $24.65.
Use our custom price calculator to see the hypothetical price of PERP with market cap of ETH or other crypto coins.
|The code for Perpetual Protocol is #PERP. |
Perpetual Protocol is 2.4 years old.
|The current market capitalization for Perpetual Protocol is $64,909,511.|
Perpetual Protocol is ranked #294 out of all coins, by market cap (and other factors).
|The trading volume is big during the past 24 hours for #PERP.|
Today's 24-hour trading volume across all exchanges for Perpetual Protocol is $7,669,434.
|The circulating supply of PERP is 94,698,602 coins, which is 63% of the total coin supply.|
Setting Up For Long-term Success: Perp’s Path Forward
We have some exciting things planned for 2023! This article outlines our thoughts on the protocol’s future development for the next two quarters and our current thinking about what the future has in store for Perp. However, it should be emphasized that this piece does not represent a strict roadmap. The ideas and directions detailed here are an indication of Perp’s path forward, but can potentially change. In our view, it’s beneficial to be nimble, to experiment with new ideas to see what works and be agile enough to double down on these goals and execute them. Taking this approach means that we can rapidly ship new features or products, while also giving the team a chance to address and overcome new challenges as they arise. For a recap of our progress during 2022, check out the post below: Perp v2 Turns One: A Recap of the Past Year — Horizontal Expansion: Delta Neutral Vaults - As a leading on-chain perpetual swaps DEX, we want to achieve broader adoption by introducing a variety of different products to appeal to a wider audience, especially those that are more interested in passive investing. New products generate additional revenue streams, but there’s also an opportunity to benefit the core product: the DEX. To boost liquidity, and at the same time, attract retail investors seeking a low-risk yield, several delta-neutral vault designs are being researched and tested. Vaults have proven to be a popula...
Perpetual Protocol Newsletter — Issue #48
Perpetual Protocol Newsletter — Issue #48 - Hey everyone, Happy Lunar New Year and Gong Xi Fa Cai! Read on to catch up on what has happened in the last two weeks. — Product - 1. Lazy River 2.0 It’s real yield season for vePERP holders! We’ve seen the highest payout to date with an average APR of 52.28% distributed last Thursday. If you missed it, it’s not too late to join. 2. Product Stats Update — Perpetual Protocol (✨🔴_🔴✨) on Twitter: "We've hit over 300k distinct traders! With an ATH of 50,388 weekly active users last week. Will we surpass it again this week? 🎢 pic.twitter.com/oPuhTMfF8H / Twitter" - We've hit over 300k distinct traders! With an ATH of 50,388 weekly active users last week. Will we surpass it again this week? 🎢 pic.twitter.com/oPuhTMfF8H — Marketing & Partnerships - 1. TradingView Integration Connect your TradingView strategies and alerts to automatically execute them on Perp with this handy tool created by CryptoIbuki. Check out the video for a full walkthrough or join the workshop on February 1st, 1pm UTC. Details tba. 2. Perp CLI Tool The Perp Curie CLI allows you to trade perps by interacting directly with our smart contracts from your Terminal. Thanks Brendan for building this! 3. Galxe Holiday Campaign Did you participate in Galxe’s Holiday Night 14? We’re giving a $1,000 bonus to you! Enter the raffle until January 26th (...
Perpetual Protocol Newsletter — Issue #47
Perpetual Protocol Newsletter — Issue #47 - Hey everyone and Happy New Year! We hope you enjoyed the holidays and are ready to conquer 2023 with us. As we look back on the past year, we are grateful for all of your support and excited to see what the new year brings while staying committed to providing the highest level of service and support. As usual, read on below to learn more about our latest updates like a recap of the past year and our upcoming switch of newsletter providers. Here’s to a happy, healthy, and prosperous new year! — 🛠️ Product - 1. Reminder: Fee Sharing is here Lock your $PERP to earn real yield! A portion of the protocol’s revenue generated from trading fees is being distributed to all vePERP holders. To earn free USDC every week, lock PERP at token.perp.com for at least two weeks. A snapshot is taken each Thursday (00:00 UTC) for the following week’s distribution. On top of USDC, an amount equal to 10% of total trading fees is distributed to vePERP holders in the form of locked PERP. We recommend claiming your vePERP weekly to compound your rewards! If you hold vePERP, you earn USDC and vePERP every Thursday! Over the first three weeks of Lazy River 2.0, the average APR was around 20%. The rewards can be claimed here. Find all details about the fee sharing in our blog post. The Arrival of Real Yield: Lazy River 2.0 2. New Audit As we are continuously working on the protocol o...
A Review of 2022 & 7 Key Themes for Cryptoassets in 2023
A summary of crypto’s most impactful events in 2022 and what to look out for in the year ahead. What do you reckon will be the dominant narratives in the next 12 months? Let us know via our social channels linked at the end of this article! — A Recap of Crypto’s Biggest Events in 2022 - The year of 2022 will certainly be remembered as a near-apocalyptic year for crypto-assets. So much went wrong and very few had the foresight to anticipate the string of adverse events that investors have endured in the past 12 months. There was a collapse of trust in the ecosystem, particularly amongst centralized entities following the fallout of BlockFi, Celsius, and FTX. The aftershocks will probably linger for a while and continue to weigh on the market, with the contagion recently affecting Digital Currency Group and Gemini Earn. Although crypto has in the past bounced back from worse, such as the Mt. Gox incident in 2014, the reputational damage to the entire sector will take some time to be undone. Amongst the chaos of the past year, we also saw bridge hacks total more than $1.3 billion, drawdowns of 60% or more for major crypto-assets since the start of 2022, and the destruction of an entire blockchain ecosystem with the LUNA/UST death spiral. The LUNA collapse in turn induced a ripple effect, harming lenders such as Celsius and Genesis, as well as causing the downfall of Three Arrows Capital and stopping the ‘Zhupercyc...
Perpetual Protocol Newsletter — Issue #46
Perpetual Protocol Newsletter — Issue #46 - — Fee Sharing is here! - Hey everyone, As the year comes to a close, we want to thank everyone of you for being here with us and all of our users and community members for their continued support. Despite the rollercoaster of ups and downs in the Web3 ecosystem, the Perp team has remained dedicated to delivering new features and improving the protocol. As a special holiday treat, we are excited to announce the launch of USDC fee sharing, a highly anticipated release! We are thankful for your support and look forward to an even brighter future in the coming year ✨ — 🛠️ Product - 1. Fee Sharing is here! Real yield has arrived! We are excited to announce the launch of USDC fee sharing aka Lazy River 2.0. With the highly anticipated launch, a portion of the protocol’s revenue generated from trading fees will be distributed to all vePERP holders. To earn free USDC every week, lock PERP at token.perp.com for at least two weeks. A snapshot is taken each Thursday (00:00 UTC) for the following week’s distribution. On top of USDC, an amount equal to 10% of total trading fees will also be distributed to vePERP holders in the form of locked PERP. If you hold vePERP, you earn USDC and vePERP every week! More details can be found in our blog post: The Arrival of Real Yield: Lazy River 2.0 The first rewards were paid out last Thursday (Dec 22) with an average APR o...
Top 8 DeFi Tools For Uncovering Alpha
The Top 8 DeFi Tools For Uncovering Alpha - In the digital age, information itself is a currency. ‘Knowledge is power’, as they say, and this phrase rings true for Decentralized Finance (DeFi). With the cryptocurrency market still being quite inefficient, new information is not always immediately incorporated into market prices. Providing you are quick enough, and know where and what to look for, anyone can capitalize on information that has been overlooked or gone unnoticed to make big bucks. You don’t need deep pockets to take advantage of new information arising in the area of DeFi, as a lot of it is out there and available for free. But the sheer amount of data being generated by on-chain activities is not always easy to digest. With the rapid growth of DeFi in the past couple of years, breaking down the data and translating this into actionable alpha is becoming ever easier. In this guide, we’ll explain how to use 8 of the top DeFi tools to ensure you are on top of your game, the market and up to date with the latest trends. With enough knowledge of these tools and how to use them, as well as some practical experience, any investor can up their game, become more agile and efficient in finding potentially profitable opportunities while also sharpening their edge. — 1. Nansen - The first tool on our list is a full suite of on-chain intelligence and one of the most popular platforms for DeFi analysts and t...
What is a Santa Claus Rally?
What can we learn from Ethereum’s seasonality trends? Is the existence of a ‘Santa Claus rally’ for the second largest crypto-asset by market capitalization confirmed by the data? Read on to find out more! Seasonality is an important topic of research for financial markets, which refers to a trend that occurs in a specific time frame where prices behave in a similar manner and is repeated over time. According to economic theory, these predictable patterns shouldn’t exist, but of course, these theories make a lot of simplifying assumptions about human behavior. Calendar effects and time-of-the-day effects are two notable examples of seasonal trends. The former refers to whether an asset rises or falls repeatedly during a particular day or month, while the latter refers to whether an asset tends to perform better or worse during certain times of the day. There’s a vast amount of research on seasonal trends for stocks and other traditional assets going back decades. But this is not the case for cryptocurrency markets, because of the limited data available. As a result, there’s less consensus around the existence and significance of these patterns for crypto-assets. By looking at the data we have, the table below sheds light on the calendar effects for Ethereum, specifically whether the price tends to rise or fall in particular months. We can see that through January to May, the price of ETH tends to perform strongly...
Reflecting on 2 Years of Perpetual Protocol
Perpetual Protocol is 2 years old today! This article reflects on some of the progress made in areas such as community growth, development activity, governance and social reach. All-time volume has reached almost $15 billion with more than 130,000 unique addresses interacting with Perp and more than 7 million swaps executed! — Perpetual Protocol (✨🔴_🔴✨) on Twitter: "Over 100,000 unique traders 🚀 pic.twitter.com/PARClrDqE0 / Twitter" - Over 100,000 unique traders 🚀 pic.twitter.com/PARClrDqE0 Aside from encouraging user growth which is set to continue as traders increasingly look towards non-custodial alternatives to centralized exchanges, we’ve seen promising progress in other areas too, which you can read more about in the sections below. — Governance in Action - Community is the lifeblood of a DeFi project and with the input of PERP token holders, we’ve seen a number of proposals pass through governance votes on Snapshot. Outlining governance in action, the list below shows the votes that have passed for Perpetual Protocol: In December 2021, a vote was passed to launch the token listing DAO, which have helped us to add new markets, bringing the total to 17:, A market making entity was setup in March 2022 to improve the depth of our markets and improve the trader experience on Perp, The first step in our shift to a new tokenomic model occurred in April 2022, with a majority of vot...
The Arrival of Real Yield: Lazy River 2.0
The most anticipated feature on Perp is finally here: USDC fee sharing! As a big upgrade to our staking program on Optimism, Lazy River 2.0 will begin distributing a stablecoin yield to vePERP holders from the protocol’s revenue.To start earning yield, you’ll first need to hold some PERP on Optimism. Check out this guide which provides a walkthrough for bridging to Optimism (we recommend using Optimism Gateway) and view the exchanges where you can buy PERP here. With the arrival of real yield, Perp joins a handful of protocols that have generated substantial revenues and are delivering a cash flow to token holders. Following through with the initial proposal and governance vote result, the launch of Lazy River 2.0 will begin distributing a portion of Perp’s protocol revenue as USDC to all vePERP holders. Read on for more information! — The Flow of Lazy River 2.0⛵ - Currently, trading fees are split amongst market makers (80%) and the insurance fund (20%). As shown below, the distribution of trading fees will continue to flow towards the insurance fund and market makers if the insurance fund threshold is not met. However, there are two conditions to trigger the distribution of trading fees in USDC: The insurance fund threshold is met, where the threshold is calculated as 10% of the 30-day average of open interest across all markets, which is shown on the Lazy River 2.0 page and is to be updated every 30 days...
Perpetual Protocol Newsletter — Issue #45
Perpetual Protocol Newsletter — Issue #45 - — Celebrate the holidays with us! 🎄 - Hey everyone, Are you getting excited for the holidays? We sure are! To give back to the community and celebrate the holiday season with all of you, we’re hosting “12 Days of Giving” — a giveaway campaign in the spirit of an advent calendar, with 12 daily tasks each rewarded with an NFT, doubling as an entry ticket to a lucky draw for a prize pool worth over $2,700. And there’s more, we are currently working on the most anticipated feature of our ve-tokenomics 👀 Good luck to everyone and we wish you a joyous holiday! — 🛠️ Product - 1. New Collateral: USDT — Perpetual Protocol (✨🔴_🔴✨) on Twitter: "(1/3)📣 Multi-collateral update: we're now supporting $USDT as collateral!Deposit #Tether to trade and market make on t.co pic.twitter.com/vSwANTuhCq / Twitter" - (1/3)📣 Multi-collateral update: we're now supporting $USDT as collateral!Deposit #Tether to trade and market make on t.co pic.twitter.com/vSwANTuhCq 2. USDC Fee Sharing — Perpetual Protocol (✨🔴_🔴✨) on Twitter: "⏳ $USDC fee sharing is imminent! ⏳📸The 1st $vePERP snapshot will be taken in less than 2 days on Thursday, Dec 15th (00:00 UTC)🔒Lock $PERP into $vePERP at t.co for at least 2 weeks 💸Claim your share of fee revenue on Dec 22nd / Twitter" - ⏳ $USDC fee sharing is...
More Perpetual Protocol (#PERP) News
|Perp Traders Remain Quiet As Bitcoin Struggles To Hold $30,000
Bitcoin has been struggling to hold on to the $30,000 level for the better part of this week, failing more often than not. While there have been various reactions from different parts of the market such as the ETFs, perpetual traders seem to have taken this as a sign to hold off on their activities. What this has led to is a continuation of the neutral or below-neutral funding rates that have been recorded in the past couple of weeks.
Bitcoin Funding Rates Unmoved
For the past few months, bitcoin funding rates have been tethering around the neutral and below neutral levels. This is interesting given that open interest in perpetual had surged to new all-time highs during this time.
Funding rates fall below neutral | Source: Arcane Research
The 21 bitcoin funding rate intervals on the Binance and Bybit exchanges have been dominated by below-neutral funding rates. A total of 16 funding rates have been neural while 5 have been neutral funding rates. All this while, the perps have continued to trade at a reasonable discount to the spot.
Leverage Still Surging
Even though bitcoin funding rates have been straggling, it has not affected the performance of open interest (OI). OI had declined significantly in the previous week but last week saw BTC denominated open interest retrace its steps and add 41,000 BTC. This brought the total denominated OI to touch new all-time highs of 290,000BTC, beating the previous May 4th high of 282,000 BTC. Just a week after open interest had div...
|Broader Market Celebrates Bitcoin Breakout, But What About Perp Traders?
Bitcoin perpetual traders seem to be the only ones unmoved by the digital asset’s recent breakout. BTC which has had a tremendous rally during the first half of the week had been able to break out of the slump of the low $40,000s and moved on an upward trajectory above $47,500. However, perp traders have not reacted much to it given the state of the funding rates.
Funding Rates Remain Flat
The bitcoin perpetual traders are not reacting to the recent upside as expected. This is evidenced in the fact that the perp basis is still sitting at or even below neutral funding rates, marking the 115th consecutive day that this has remained the case. This speaks volumes to how perp traders are viewing the market. Regardless of the bitcoin price increase, they have not increased their activity in any significant way.
BTC funding rates remain neutral amid price growth | Source: Arcane Research
It could easily mean that perp traders are not convinced by the recent price movement. As with the previous uptrends recorded this year, it could mean that perp traders are expecting the digital asset to go the same way. Even going as far as falling below the neutral funding rate. This follows the trend for the year so far, given that there have been no positive funding rates recorded in 2022. The decline in funding rates can be attributed to long traders closing their positions, which have caused perpetual prices to either align or continue to trail behind spot prices.
Bitcoin Open Interest ...