Based on updated whitelist, this proposal is to increase PERP from cap 1 to cap 2. PERP currently has 12.8M in liquidity
What is PERP
Perpetual is a new project that could bring a lot of trading volume to balancer. They provide perpetual futures contracts that are based in USD. This is different to protocols such as dydx where the base token may be in ETH or a native token traded - this is a massive differentiation point given a lot of the large trading volume exchanges such as Bitmex, binance and deribit denominate in USD.
The PERP token is planned to have distributions back to token holders through a percentage of trading fees which provides a mechanism to encourage trading volume