What is Perpetual Protocol (PERP)

1. Project Introduction
Perpetual Protocol (PERP) is a decentralized perpetual contract trading platform that utilizes a virtual automated market maker (vAMM) model to facilitate high-leverage, low-slippage trading. Unlike traditional models, it does not require liquidity providers (LPs), as traders act as counterparties to each other.
The V1 version achieved initial success but had some limitations. V2 integrated Uniswap V3, improving liquidity efficiency and reducing barriers to market-making. Additionally, it migrated to Layer 2 Arbitrum, enhancing decentralization and flexibility. V3 introduced an intelligent liquidity framework, allowing for various liquidity provisioning models—including XYK-style AMMs, RFQ, CLOB, and oracle-based strategies—both on-chain and off-chain.
Summary: Perpetual Protocol is a decentralized perpetual trading platform that has evolved from a vAMM model to a smart liquidity framework, offering an innovative and seamless trading experience for DeFi users.
2. Team & Investment Info
The core team behind Perpetual Protocol consists of experienced entrepreneurs and developers with deep expertise in the crypto space.
Co-founder Yanwen Feng holds a degree in Electrical & Control Engineering and Computer Science from National Taiwan University. He previously founded multiple startups, including Cinch Network and Decore, gaining extensive experience in crypto projects.
Co-founder Shaokang Li has been an entrepreneur since 2012 and has collaborated with Feng on multiple ventures.
Other key team members include senior software engineer Wei-Da Chen and blockchain developer Shao-Ku Tian, both of whom have strong backgrounds in blockchain development and software engineering.
Funding:
2018: Binance Labs participated in a seed funding round.
August 2020: Raised $1.8 million in a strategic round, led by Multicoin Capital, with participation from Zee Prime Capital, Three Arrows Capital, CMS Holdings, Alameda Research, Binance Labs, and others.
3. Social Media URLs
X: https://x.com/perpprotocol
Telegram: https://t.me/perpetualprotocol
Discord: https://discord.com/invite/mYKKRTn
Medium: https://medium.com/@perpetualprotocol
4. Token Info
Token Symbol: PERP
Total Supply: 150,000,000
Token Type: ERC-20
Issuance/Burn Mechanism (unlikely to occur):
(1) The community may decide to mint additional tokens via governance.
(2) If the insurance fund is depleted, new PERP tokens may be minted to cover losses.
Contract Address: 0xbc396689893d065f41bc2c6ecbee5e0085233447
Token Distribution:
Balancer Liquidity Pool: 5%
Seed Round: 4.2%
Strategic Round: 15%
Team & Advisors: 21% (vesting starts 6 months after mainnet launch, unlocking 2.1% every 3 months over 30 months)
Ecosystem & Rewards: 54.8%
5. Related Links
Official Website: https://perp.com/
Other Info: https://app.perp.com/