This document applies to the current mainnet version of Perpetual Protocol. Our current state of rapid development means details may be inaccurate or out of date.
Perpetual Protocol is beta software. Use at your own risk.
The Perpetual Protocol smart contracts are decentralized and permissionless, but the interface provided at perp.exchange is not. Please read and agree to the Terms of Service before attempting to use the interface.
We currently support using the desktop Firefox or Chrome version of the Metamask wallet for interaction with the Perpetual Protocol perp.exchange interface.
perp.exchange currently does not support hardware wallets. Do not deposit funds if your wallet is connected to a hardware wallet.
Quick start video
Funds must be transferred to the xDai layer 2 network to take advantage of our scaling features — funds remain 100% controlled by your private keys at all times. Learn why here or go deeper on the process here.
Follow these steps:
Enter the amount you want to transfer, or use the MAX button 🚀
Approve the deposit of funds from Ethereum (layer 1) to the xDai network (layer 2)
Approve the use of funds by the exchange on the xDai network (layer 2)
Sign the transaction in Metamask -- Done!
Metamask will show a warning that you are signing a message that is not 'human readable'. This is necessary to move funds to the xDai network. Perpetual Protocol has been audited by independent audit firms Consensys and PeckShield (incremental audits) and is secure.
Choose the trading pair you'd like to trade.
Open a position. Choose Buy to open a long position, and Sell to open a short:
Enter the size of the position and choose the amount of leverage you want to use. You can also enter the amount of collateral you'd like to use. Collateral and position size (aka 'amount') will update when the other value is edited.
[Optional] Set the slippage tolerance. If trading activity is high, slippage may increase. Allowing greater slippage gives your transaction a greater chance of going through, however the final price will differ from the estimate shown in the transaction summary below.
Review the transaction and click Buy or Sell.
Congrats! You've opened your first position on the Perpetual Protocol testnet!