โPERP on BSCNote You cannot stake using PERP bridged from BSC.
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:
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 itโs 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 โstake,โ their PERP for a fixed amount of time in the Staking Pool. In return, stakers receive rewards. Learn more ๐ 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)
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7,500,000 PERP tokens (5.0%)
Balancer LBP token launch, held September, 2020.
Seed investors
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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
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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
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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 Pool
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No lockup -- tokens are liquid upon purchase.
Team and advisors
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Team tokens begin unlocking 6 months after mainnet launch at a rate of 2.1% per 3-month period.
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Unlock period begins June 15, 2021
Seed and strategic investors*
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Seed and strategic investors receive either 1/4 or 1/5 of their tokens each quarter, begining from v1 mainnet launch.
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Unlock period begins December 15, 2020
Ecosystem and Rewards
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Tokens are unlocked according to votes by governance.
*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
โ ๏ธ 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.