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Token Terminal accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content. The chart shows that the trading volumes on Perpetual Protocol have been increasing exponentially over the last few weeks. The low trading fees on the sidechain offer a compelling alternative for those interested in trading perps. The steep fall in the price to sales ratio (along with the stable market cap in December and early January) shows that the trading volumes on Perpetual Protocol took off almost immediately after launch. Calculated as a blockchain’s or decentralized application’s market cap divided by its annualized revenue.
Calculated based on a blockchain’s or decentralized application’s fully-diluted cryptocurrency or token supply. In addition to centralized exchanges, Perpetual Protocol is competing against order book -based perps protocols like dYdX, DerivaDEX, MCDEX. If more people are opening long trades how to buy bitcoin in ira on Ethereum, the contract price for an Ethereum long would go up.
Calculated as the daily trading volume for a blockchain’s or decentralized application’s cryptocurrency or token divided by its market cap. Perpetual Protocol (PERP) is a decentralized leverage trading platform for crypto such as Bitcoin (BTC) and Ethereum (ETH). The PERP token is the platform’s token, currently trading at $4.3 with a market cap of $320 million. To start trading, users need to deposit USDC from Ethereum to the Perpetual Protocol exchange located on the sidechain.
Traders can use technical analysis to identify trends in the market and open long or short positions accordingly. This strategy involves following the market’s momentum, entering a position in the direction of the trend, how to buy egld and exiting when the trend reverses. The formula may also include a cap and a floor to limit the maximum and minimum funding rate possible. It is important to note that the exact formula can vary depending on the specific exchange or platform you are using. Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader.
What is Perpetual Protocol (PERP): Decentralized Leverage Trading For BTC and ETH
PERP was performing when Bitcoin was on the rise last year and depreciated when it dropped – similar to other altcoins. Unfortunately, as the platform was transitioning from v1 to v2, a large trader of the CREAM token was liquidated which put Perpetual’s insurance fund in jeopardy. This resulted in the team temporarily halting all trading on the platform, and, through community governance, the platform distributed remaining funds across its userbase. The first version of Perpetual Protocol was released in 2020, and the next year the platform saw around $36 million in trading volume, according to Feng.
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- Staking rewards in the Perpetual Protocol ecosystem are tiered based on the number of tokens a user locks up.
- They could sell these contracts at a higher price or they could keep them indefinitely – as long as they make a profit.
- Within months, Strike was renamed to Perpetual Protocol and Strike’s SKE token was renamed PERP.
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It’s worth noting that a low ratio decreases the accuracy of the price discovery for the PERP token. By holding vePERP, users are eligible to receive rewards (in the form of USDC) for fees generated by traders using the platform. They are additionally able to participate in community governance in Perpetual Protocol’s decentralized autonomous organization (DAO). Traders can exploit price discrepancies between the perpetual futures market and the spot market to make a profit using a strategy known as arbitrage. This involves buying the asset what is the information commissioners office in one market and simultaneously selling it in the other, taking advantage of the price difference. The Perpetual market cap is $320 million at the time of writing, making it among the largest decentralized exchanges.
What is Perpetual Protocol (PERP)
Perpetual futures are settled in cash, meaning that no physical delivery of the underlying asset is required. A perpetual bond, also known colloquially as a perpetual or perp, is a bond with no maturity date,1 therefore allowing it to be treated as equity, not as debt. Issuers pay coupons on perpetual bonds forever, and they do not have to redeem the principal. A perpetual bond, also known as a “consol bond” or “perp,” is a fixed income security with no maturity date. One major drawback to these types of bonds is that they are not redeemable. However, the major benefit of them is that they pay a steady stream of interest payments forever.
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As long as the asset stays within the pre-specified range, they earn rewards without the risk of impermanent loss. For example, if you think that Bitcoin will rise in value, you can buy a Bitcoin perpetual futures contract and profit from the price increase. Conversely, if you think that Bitcoin will fall in value, you can sell a Bitcoin perpetual futures contract and profit from the price decrease. The discount rate denominator reduces the real value of the nominally fixed coupon amounts over time, eventually making this value equal zero.