๐ฅ๐ฅWhat is Perpetual (PERP) Coin? Project Future and Analysis
What is #Perpetual (#PERP )?
The platform uses a scaling technology called xDai to increase the speed of transactions compared to other Ethereum-based exchanges and offer zero gas fees on all transactions. The transactions in the protocol are carried out via USDC. That is why all the guarantees used in the exchange are in USDC.
Perpetual Protocol uses a modern system to allow investors to take advantage of xDai scaling without having to set up a wallet. Users can use their existing wallets to deposit money (USDC) through the transaction interface. The users' funds are controlled by Metamask or other compatible wallet during the transaction period.
Who is the Founder of the Perpetual Protocol?
Perpetual Protocol was founded in 2018 by Yenwen Feng and Shao-Kang Lee. By developing this decentralized finance (DeFi) platform, these two have tried to show how derivatives markets can function in the DeFi infrastructure. Both of them have a deep knowledge and experience in the field of crypto and blockchain.
What is PERP Token?
PERP is the local protocol cryptocurrency of the Perpetual Protocol. It has ERC-20 standard. It is designed to facilitate and promote the decentralized management of the protocol. For this reason, PERT token holders have the right to vote in proportion to the amount they own.
How Does the Perpetual Protocol Work?
Perpetual Protocol is a decentralized finance (DeFi) platform. This platform offers a clearing protocol for derivative products. If we need to explain in detail, the platform focuses on a type of derivative called โPerpetual contractsโ. Thus, it allows users to place bets on the future price movements of crypto assets. The platform is faster and more economical than Ethereum's main network because it is built on the xDai Chain. In addition, the Perpetual Protocol offers incentives for users to use the protocol by making transactions or providing liquidity.
