What is PERP coin? Introduction to the issue price, total amount and white paper of PERP coins

PERP coin, the native cryptocurrency of the Perpetual Protocol decentralized derivatives exchange, is used for staking, trading fee payment, and collateral, and its holders can participate in platform governance.

Oct 29, 2024 at 03:48 pm

What is PERP Coin? Comprehensive Guide to Price, Total Supply, and Whitepaper

1. Definition

PERP coin is the native cryptocurrency of Perpetual Protocol, a decentralized derivatives exchange that allows users to trade perpetual futures contracts without the need for a middleman. PERP coin serves several purposes on the platform, including:

Staking: Users can stake PERP to earn rewards and participate in platform governance.
Trading fees: PERP is used to pay trading fees on the platform, with discounts available for higher staking levels.
Collateral: PERP can be used as collateral when trading certain perpetual futures contracts.

2. Issue Price and Tokenomics

Issue Price: PERP was issued through an initial decentralized exchange offering (IDO) in December 2021 at a price of $0.01 per token.
Total Supply: The maximum supply of PERP is capped at 150 million tokens.
Circulating Supply: As of March 2023, approximately 105 million PERP tokens are in circulation.

3. Whitepaper

The Perpetual Protocol whitepaper provides a detailed overview of the platform's architecture, tokenomics, and technical specifications. It was published on September 14, 2021, and can be accessed on the Perpetual Protocol website.

4. Key Features of PERP Coin

Governance: Staked PERP tokens grant voting rights to participate in the platform's governance decisions.
Fee Discounts: Holding staked PERP tokens entitles users to discounts on trading fees.
Collateral: PERP can be used as collateral for selected perpetual futures contracts.
Staking Rewards: Users who stake their PERP tokens earn rewards in the form of PERP tokens.

5. Conclusion

PERP coin is an integral part of the Perpetual Protocol ecosystem, serving as a utility token for staking, trading fees, and collateral. It enables users to participate in the platform's governance and earn rewards while facilitating decentralized perpetual futures trading.

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