Most tokenomics questions are answered here: https://docs.perp.fi/getting-started/perp-tokens
What is the token release/unlock schedule?
Tokens will be released and unlocked according to different schedules depending on the token holder. Please see PERP Distribution and PERP Release Schedule for details.
What is the utility of the PERP token?
Governance
Perpetual Protocol is a project built on community support. Once the ecosystem has matured and we have broader token distribution, Perpetual Protocol would gradually transition into a DAO and let the community decide the future development of the protocol.
Note that governance may vote to add additional token features in the future.
Staking
In order to incentivize participation in Perpetual Protocol governance, PERP holders are rewarded when they stake their tokens in the Staking Pool. Stakers are rewarded with a portion of transaction fees generated by trading, plus the staking reward once per staking epoch (7 days).