Are you looking for an honest Perp Review? Search no more because, in this article, we will be reviewing Perp honestly, we will also explain how it works, its pros and cons, and everything you need to know about the platform.
What is Perpetual | Perp Review
According to Asiacryptotoday
Perpetual Protocol is a DeFi platform focused on trading futures-like contracts. Interestingly, it supports the trading of cryptocurrency and other assets such as gold, crude oil, and fiat.
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What is Perp
PERP is Perpetual Protocol’s ERC-20 native protocol token, which has different uses such as
Staking
PERP holders can stake PERPs to help provide a backstop for the protocol. In return, stakers are rewarded with part of the transaction fees plus staking rewards.
Governance
Once the ecosystem is matured and there is broader token distribution, Perpetual Protocol will gradually transit to community governance and let the community decide the future development of the protocol.
Perp Features
Traders can trade with up to 20x leverage long or short, enjoy transparent fees, and 24/7 guaranteed liquidity.
Go Long or Short on Any Asset
Virtually any asset can be supported via a perpetual contract on Perpetual Protocol. Whether it’s gold, fiat, BTC, BCH, ETH, ERC-20s, XRP, EOS, LTC, ZEC, XMR, or something else, Perpetual Protocol can support it all.
Lower Slippage than Other AMMs
Traders on constant product (x*y=k) market makers like Uniswap suffer from higher slippages than traders on centralized exchanges (CEXs) because k is capped by the liquidity provided. Perpetual Protocol’s Virtual AMMs can set k algorithmically to provide lower slippage to traders.
How Perp Works
According to Perp
Perpetual Protocol is composed of two parts: Uniswap-inspired Virtual AMMs backed by fully collateralized vaults and a built-in Staking Pool that provide a backstop for each virtual market.
Traders
Similar to trading on Uniswap, traders can trade with Virtual AMMs directly without counter-parties. Virtual AMMs provide guaranteed on-chain liquidity with predictable pricing set by constant product formula.
Stakers
PERP holders can stake PERPs to Staking Pool and Perpetual Protocol’s Insurance Fund is guaranteed by PERP stakes. PERP stakers collect transaction fees, and in exchange for that must backstop for the system.
Who is the Owner of Perp ?
The owner of the Perp coin company is known on the internet which is a good indication of the legitimacy of the website.
Because one of the conditions for a legit website is that it must contain the owner’s information so that someone can be held responsible if anything goes wrong.
Arthur Hayes is the co-founder of Perp
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Perp Contact Information
Just in case you have any need to contact Perp, you can do that using their social media handles below.
Perp Review | Is Perp Legit or Safe?
At the time of writing this article, we can say that the Perp coin is legit and Safe.
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