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Ethereum is one of the oldest and most established blockchain platforms. One of its downsides is that it often comes with exorbitant gas fees. What if we told you there’s a platform that not only offers cheaper fees, but also lets you leverage your capital by up to 20x? Look no further. In this article, we’ll examine Perpetual Protocol.
Created in 2018 by Yenwen Feng and Shao-Kang Lee, Perpetual Protocol was originally called “Strike” before it changed its name over a year ago. Perpetual Protocol is built on the Ethereum blockchain. Like Uniswap or PancakeSwap, Perpetual Protocol is a decentralized exchange (DEX) that allows users to trade with leverage, short positions and low slippage. It’s a smart contract that uses automated market makers (AMMs) instead of people or institutions to complete trades. Perpetual Protocol doesn’t offer spot trading.
PERP is the native token of Perpetual Protocol and is critical to its governance. Still in its early phases, Perpetual Protocol is currently managed by a team. However, the ultimate plan is reportedly to transfer power to PERP holders, with developments and improvements falling onto the shoulders of the community.