Perpetual Protocol
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PERP Token
Overview
PERP is Perpetual's native protocol token and is issued by Perpetual DAO.
The PERP token is a standard ERC-20 token on Ethereum.
Token contract address: 0xbc396689893d065f41bc2c6ecbee5e0085233447
🚨 Be careful with PERP tokens on other chains. They may be scams.
✅ Known legitimate PERP tokens:
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:
- 1.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.
Token specs
Token Name
Perpetual Protocol Token
Token Ticker
PERP
Token Type
ERC-20
Token Supply
150,000,000
Use Cases
- 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.
PERP Token Distribution
Lot
Description
Balancer Liquidity Bootstrapping Pool (LBP)
- 7,500,000 PERP tokens (5.0%)
- Balancer LBP token launch, held September, 2020.
Seed investors
- 6,250,000 PERP tokens (4.2%)
- Binance Labs, invested in early protocol development in 2018. Note: tokens are vested quarterly after v1 mainnet launch; see details below.
Strategic investors
- 22,500,000 PERP tokens (15%)
- Strategic investors, to the extent they fully exercise their rights to purchase PERP tokens. Note: tokens are vested quarterly after v1 mainnet launch; see details below.
Team & advisors
- 31,500,000 PERP tokens (21%)
- Team helps launch the initial version of Perpetual Protocol and other initiatives beneficial to the protocol. Note: tokens are vested; quarterly unlock begins 6 months after v1 mainnet launch.
Ecosystem & rewards
- 82,250,000 PERP tokens (54.8%)
- Ecosystem and rewards, which will benefit traders, stakers, and community developers who participate in the Perpetual Protocol ecosystem. As Perpetual Protocol transitions to community governance, distribution of ecosystem rewards will be decided by the Perpetual Protocol community.
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 very 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.
PERP Release Schedule
Different lots of PERP tokens unlock at different times, according to their purpose.
Token release schedule
- Balancer Liquidity Bootstrapping PoolNo lockup -- tokens are liquid upon purchase.🔓
- Team and advisorsTeam 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 either 1/4 or 1/5 of their tokens each quarter, begining from v1 mainnet launch.🔒
- Unlock period begins December 15, 2020🔓
- Ecosystem and Rewards
*Additional investor & seed details
Some of the investor tokens vest over 4 quarters and some over 5 quarters. Seed investors are vested between 1,250,000 and 1,562,500 PERP per quarter, and strategic investors are vested between 4,500,000 and 5,625,000 PERP per quarter.
Total tokens for investors (Seed + Strategic Investors) are 6,250,000 + 22,500,000 = 28,750,000 PERP.
The tokens started vesting Dec 15, 2020.
The total vested tokens for the first 4 quarters were 6,531,250 * 4 = 26,125,000 PERP. The 5th quarter payout is 2,625,000 PERP. It will be executed on or after 12/15/2021.
Token unlock chart
Chart excludes 'Rewards & Ecosystem' tokens as these are controlled by governance and do not follow an unlock schedule.
Token wallets
⚠️ Values are updated on best-effort basis. Please ask for updates via Discord.
Wallet
Comments
0xc49f76a596d6200e4f08f8931d15b69dd1f8033e
Main token wallet
Locked rewards pool and investor/team token supply.
- Rewards: 🔒73,150,000
- Investors: 🔒11,500,000
- Team: 🔒28,350,000
0x0f346e19f01471c02485df1758cfd3d624e399b4
Staking contract
0xd374225abb84dca94e121f0b8a06b93e39ad7a99
Last modified 1mo ago