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

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 links - Coin Gecko - Etherscan - CoinMarketCap​

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; 20% unlocked at mainnet launch; see release schedule 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; 20% unlocked at mainnet launch; see release schedule 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; progressive unlock begins 6 months after mainnet launch; see release schedule below.

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 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

    ​🔓 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.

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

Perpetual DAO Treasury (link)