Intro
Same as previous post. Currently PERP is at $3m cap, there is $14m liquidity currently and is relatively stable over last couple of days so don’t expect any more updates after this.
Below is the same copy/paste from previous post. The only thing I would add is that given the whole Bitmex issue they have lost about 10k BTC in open interest which will be very interesting where that volume goes. If Perp can capture it (being the only usd settled perpetual future in dex which is the same mechanism as btc perp in Bitmex) then we want to capture this liquidity first!
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