Perpetual Protocol
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Perpetual Protocol in numbers
Perpetual Protocol (PERP) ranks #1851 by market capitalization, at $1.38M. It belongs to the DeFi sector (Derivatives). It has traded since Sep 9, 2020, across 65 markets on 14 exchanges, with $299.05K of volume in the last 24 hours. Its all-time high of $24.57 was reached on Aug 30, 2021; the current price is 99.9% below that peak. Its cycle low of $0.0125744 came on Jul 21, 2026.
88.1% of the maximum supply of 150.00M PERP is in circulation. 12 investors are recorded as backers, including YZi Labs (formerly Binance Labs), Alameda Research, CMS Holdings. Development data lists 6 core developers and 10,545 code commits. On Ethereum, 15,037 addresses hold PERP. It is available on 5 networks.
About Perpetual Protocol
Perpetual Protocol is a decentralized finance platform that specializes in offering perpetual contracts for cryptocurrencies. It provides a virtual automated market maker system, enabling leveraged trading without traditional intermediaries. The service is designed to facilitate secure and accessible cryptocurrency trading.
Background
Perpetual protocol, formerly known as Strike, was created in 2019 inspired by emerging DeFi protocols such as Synthetix and Uniswap. The team sought to combine the merits of these protocols to create a decentralized perpetual contract trading protocol on Ethereum. The protocol is capable of supporting 20x leverage, short positions, and lower slippage compared to other AMMs thanks to its virtual AMM (vAMM) design.
Unlike well known Automated Market Makers used for both token swaps and price discovery, the vAMM is solely used for price discovery to handle leverage and short positions. Similar to Uniswap, traders can trade with the vAMM without central authorities and is designed to be market neutral and fully collateralized.
PERP is the protocol’s ERC-20 native token. PERP tokens allow community members to govern the protocol and stake their tokens for a fixed amount of time to the Staking Pool. In return, holders are rewarded with the staking incentive, which includes rewards in PERP and transaction fees.