PERP is Perpetual's native protocol token and is issued by Perpetual DAO.
The PERP token is primarily a utility token designed to facilitate and incentivize the decentralized governance of the protocol. As such, holders of PERP tokens accrue voting rights proportional to their holdings.
To incentivize governance participation, we have designed the following incentive structure:
Staking rewards & trading fee rewards increase > 2. PERP token value increases > 3. PERP token awareness increases > 4. Protocol awareness increases > 5. Trading volume increases > 6. Trading fees increase > Back to 1.
In addition, the Perpetual Protocol team marketing efforts, as well as programs such as Transaction Mining, feed into this loop.
Perpetual Protocol Token
Governance Once PERP token holders have staked their tokens, they can then use their staked PERP tokens to vote on or propose new ideas that can be used to improve Perpetual Protocol. Before the on-chain governance voting platform is ready for PERP token holders, core protocol contributors will guide critical decisions. We believe it’s important to keep governance nimble in the early days of the Perpetual Protocol. You can learn more about the governance plan here.
Staking PERP holders can lock-up, or “stake,” their PERP for a fixed amount of time in the Staking Pool. In return, stakers receive rewards. Learn more 👉 Staking.
Exchange backstop In extreme cases, the exchange insurance fund may be depleted. In such an event, PERP tokens may be sold at market in order to make up for any shortfall.
Balancer Liquidity Bootstrapping Pool (LBP)
Team & advisors
Ecosystem & rewards
The total PERP token supply is set at 150,000,000. The token supply can be inflated via two mechanisms, both of which have a low chance of occurring: Governance may decide to mint more tokens; the insurance fund is exhausted and PERP are minted to make up the shortfall.
Different lots of PERP tokens unlock at different times, according to their purpose.
Balancer Liquidity Bootstrapping Pool
🔓 No lockup -- tokens are liquid upon purchase.
Team and advisors
🔒 Team tokens begin unlocking 6 months after mainnet launch at a rate of 2.1% per 3-month period.
🔓 Unlock period begins June 15, 2021
Seed and strategic investors
🔒 Seed and strategic investors receive 20% of their tokens at mainnet launch, and 20% per 3-month period afterward.
🔓 Unlock period begins December 15, 2020
Ecosystem and Rewards
🔓 Tokens are unlocked according to votes by governance.
Chart excludes 'Rewards & Ecosystem' tokens as these are controlled by governance and do not follow an unlock schedule.
⚠️ Values are updated on best-effort basis. Please ask for updates via Discord.
Main token wallet
Locked rewards pool and investor/team token supply.
Perpetual DAO Treasury (link)