Today, perp briefly broke through $0.9, reaching a high of $0.95, and is now quoted at $0.875, with a 24-hour increase of 36%.
Perpetual Protocol is a decentralized perpetual contract protocol that implements transactions through a virtual automated market maker (vAMM) mechanism, allowing traders to trade directly through vAMM without a counterparty. This mechanism eliminates the role of liquidity providers (LPs) in the traditional AMM model, thereby avoiding the problem of impermanent loss and providing unlimited liquidity.
A key feature of Perpetual Protocol is that it allows traders to use up to 10 times leverage to go long or short, and all transactions are non-custodial, meaning that traders always maintain control of their assets.
In addition, Perpetual Protocol has designed a risk management strategy, including using Chainlink as a price oracle to feed prices and setting up an insurance fund to compensate for possible losses in the event of volatile market conditions.
