The core of Perpetual Protocol is the decentralized exchange (DEX), based on Ethereum and xDai.
Go long or short on a growing number of assets
Includes BTC, ETH, DOT, SNX, YFI and more.
Trade with up to 10x leverage.
Trade with zero gas fees thanks to xDai.
All trading is 100% on-chain.
Trading is 100% non-custodial
To start trading, go to the Perpetual Protocol Exchange link above.
You will need:
Metamask wallet (support for more wallets coming soon™️)
$USDC on Ethereum (see 💸 Where to get USDC for more options)
Deposit your USDC and start trading!
More details: 📈 Start trading on perp.exchange
Read on to learn about how the Perpetual Protocol works.
Perpetual Protocol is a decentralized perpetual contract protocol for every asset, made possible by a Virtual Automated Market Maker (vAMM).
Like Uniswap, traders can trade with our vAMMs directly without the need for counterparties. The vAMMs provide guaranteed on-chain liquidity with predictable pricing set by constant product curves. The vAMMs are also designed to be market neutral and fully collateralized.
PERP holders can become stakers by staking the PERP tokens in their possession to a Staking Pool. In return, stakers are rewarded with a portion of the transaction fees in stable coins plus staking rewards in PERP.
Our goal is to create the world's best, most accessible and most secure decentralized derivatives trading platform.
This vision leverages the DeFi 'money lego' ethos to both build upon other amazing DeFi projects, as well as actively facilitate ways for future projects to build upon our work.
Perpetual Protocol also has a utility token (PERP) with incentive structures to foster a vibrant, engaged community of users that will govern protocol development in a cooperative, democratic way.
Contrary to the applications that utilize automated market makers (AMMs) for both token swaps and price discovery such as Uniswap and Balancer, Perpetual Protocol uses the constant-product curve in our AMMs solely for price discovery so that we can handle leverage and shorts.