What is PERP coin? What can PERP coins do? How to store PERP coins?

As the native token of Perpetual Protocol, PERP coins enable staking, governance participation, and community involvement while facilitating decentralized perpetual contract trading.

Nov 19, 2024 at 11:53 pm

What is PERP Coin?

Definition: Perpetual Protocol (PERP), launched in December 2020, is a decentralized futures trading protocol that offers decentralized perpetual contracts, enabling users to trade assets without expiry dates.
Key Features:
- Perpetual contract trading: Allows traders to take long or short positions on assets without facing settlement timelines or delivery risks.
- Highly leveraged trading: Provides up to 10x leverage for increased profit potential.
- Protocol-owned liquidity: Automatically distributes trading fees back to the protocol's treasury, ensuring sustainable liquidity for traders.

What Can PERP Coins Do?

Staking: PERP coin holders can stake their tokens to earn rewards and contribute to the stability of the protocol.
Governance: PERP coin holders participate in the protocol's governance process by voting on key parameters, such as trading fees and risk parameters.
Community Involvement: Active participation in the PERP community through forums and social media can influence protocol development and decision-making.

How to Store PERP Coins?

Hardware Wallet: For optimal security, store PERP coins in a hardware wallet like Ledger or Trezor.
Software Wallet: Software wallets such as MetaMask and Coinbase Wallet provide convenient access and storage, but ensure the custodian is reputable.
Exchange Wallets: PERP coins can be stored in the exchange wallets of platforms that list the token, such as OKX, Binance, and Coinbase. However, it's generally not recommended to store large amounts of crypto in exchange wallets due to potential cybersecurity risks.

Additional Information:

PERP coin is the native token of the Perpetual Protocol ecosystem.
As of March 8, 2023, the circulating supply of PERP coins is 106,607,191 out of a total supply of 150,000,000.
PERP coin is currently ranked 138th in market capitalization among all cryptocurrencies, with a market cap of approximately $154 million.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

SOS

$0.3271

231.93%

Trade Now
RED

$0.8543

56.59%

Trade Now
APU

$0.0...02019

53.28%

Trade Now
QUBIC

$0.0...01262

31.97%

Trade Now
ZRO

$2.2711

29.16%

Trade Now
SPELL

$0.0...07729

26.51%

Trade Now

Latest Crypto News

Trump's love for crypto heralds a new era, and Australia may be forced to follow
2025-03-16 05:05:55
The cryptocurrency market is showing signs of change, with one of the leading coins hinting at a possible rise
2025-03-16 04:50:54
Lightchain AI Could Emerge as the Next Big Crypto Winner
2025-03-16 04:50:54
Cryptocurrency scam linked to a newly minted ‘$Ramaphosa’ token exploited South African Parliament’s official X, Facebook, and YouTube accounts
2025-03-16 04:45:54
Dubai License Brings Ripple Closer to Global Adoption
2025-03-16 04:45:54
A wind of dissent is blowing over Washington
2025-03-16 04:45:54

Related knowledge

What is Ethereum’s Slashing mechanism and how to punish malicious behavior?

Feb 20,2025 at 03:08am

Key PointsOverview of slashingDifferent types of slashing in EthereumIncentives and consequences of slashingIdentifying and reporting slashed validatorsOngoing discussions and potential improvementsEthereum's Slashing Mechanism: Punishing Malicious BehaviorEthereum's slashing mechanism is an essential tool for ensuring network security and punishing mal...

What is the verifier node of Ethereum and how to become a verifier?

Feb 19,2025 at 06:00pm

The Verifier Node of Ethereum: A Comprehensive GuideKey Points:What is a Verifier Node?How to Become a Verifier NodeResponsibilities and Rewards of a Verifier NodeMinimum Requirements for Becoming a Verifier NodePotential Difficulties in Running a Verifier Node1. What is a Verifier Node?A Verifier Node is an independent entity on the Ethereum network th...

What is Ethereum’s staking, and how to participate and earn money?

Feb 19,2025 at 04:37pm

Key Points:Understanding Ethereum's Staking MechanismSteps to Participate in StakingBenefits and Rewards of StakingSecurity and Risk ConsiderationsTechnical Requirements and Hardware OptionsPotential Challenges and Troubleshooting TipsFAQs on Ethereum StakingWhat is Ethereum's Staking?Proof-of-Stake (PoS) is a consensus mechanism used in blockchain netw...

What is Ethereum’s DAO (Decentralized Autonomous Organization) and how does it work?

Feb 20,2025 at 03:12am

Key PointsDefinition and Structure of a DAOGovernance and Decision-Making in DAOsBenefits and Use Cases of DAOsChallenges and Limitations of DAOsWhat is Ethereum's DAO (Decentralized Autonomous Organization) and How Does It Work?Definition and Structure of a DAOA Decentralized Autonomous Organization (DAO) is an innovative governance and management fram...

What is Ethereum's multi-signature wallet and how to improve security?

Feb 20,2025 at 02:18pm

Key Points:Understanding the Concept of a Multi-Signature WalletBenefits and Drawbacks of Multisig WalletsRequirements for Setting Up a Multisig WalletStep-by-Step Guide to Generating a Multisig WalletImplementing Strategies for Enhanced Security1. Understanding the Concept of a Multi-Signature WalletA multi-signature (multisig) wallet in the Ethereum e...

What is Ethereum's oracle and how to provide data for smart contracts?

Feb 21,2025 at 01:30am

Key Points:Understanding the concept of oracles in EthereumExploring different types of oraclesDetailed guide on how to provide data for smart contractsAddressing potential challenges and considerationsWhat is Ethereum's Oracle?Oracles are crucial components in the Ethereum ecosystem, enabling smart contracts to access real-world data and off-chain even...