Perpetual Agreement (Perpetual) announces details of token allocation: 51.8% for ecosystem rewards

Source: Perpetual Protocol (formerly: Strike Protocol)

Cypher money

To address the current limitations of AMM, the Perpetual Protocol radically expands the scope of AMM and enables the perpetuity contract for the first time by introducing a new approach called a virtual automated market maker (hereinafter referred to as "vAMM"). About the Perpetual Protocol project, please clickPerpetual Protocol's vAMM: how to make Uniswap retail investors more profitable | project introduction"Look at it.

The perpetual agreement team released the details of token allocation on August 25, which read as follows:

Abstract

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Communities can participate in the governance and pledge of the Perpetual Protocol through PERP tokens.

If you are interested in participating in community governance or pledge, it is recommended that users get involved in fluidmining and Balancer LBP (Balancer pool for fluidancer) for PERP tokens.

7.5 million PERP tokens will be opened in Balancer LBP (Balancer liquidity pool) approximately 6:00am UTC, Sep.7, 2020.

Note that Balancer LBP is not the usual Balancer Pool, and the initial price will be high to discourage price speculation. We understand that people want to get PERP tokens to participate in governance and pledge, but until then all community members will not get any additional benefits, so there is no gain in trying to buy. If you're looking for PERP from Balancer, it's advisable to buy in a few hours.

If you have any questions or concerns about us, you can leave them directly on our official channels. Note that no member of the Perpetual Protocol team will ever talk to you privately for any reason.

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After months of work, the Perpetual Protocol team is pleased to announce that PERP tokens will be distributed once the main network is up and running. If you're interested, this article explains how to use PERP tokens, how to allocate them, and how to get perPs.

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About the Perpetual Protocol

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Perpetual Protocol is a Perpetual contract trading Protocol for the decentralization of any asset that can use up to 20 times the leverage to trade long or short. It has unISwaP-inspired virtual vAMM (vAMM) and built-in pledge pools to support and protect the liquidity of virtual automated market makers.

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Like other virtual automated market makers (such as Uniswap), traders can trade directly with our virtual automated market makers without the need for counterparties. A virtual automated market maker (vAMM) provides predictable prices through a curve to ensure liquidity along the chain. A virtual automated market maker (vAMM) is set to the cube of the market and has a fully secured margin. To learn more about our virtual Automated market Maker (vAMM), please read:Take A closer look at our vAMM ([A Deep Dive into our Virtual AMM (vAMM)]).

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The main features of the Perpetual Protocol include:

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A perpetuity contract with 20 times leverage

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Traders can use up to 20 times leverage to trade long or short, with transparent fees, and 24/7 liquidity.

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You can go long or short any asset

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A perpetuity contract on a perpetual agreement supports any asset. Whether it is gold, legal tender, BTC, BCH, ETH, ERC-20, XRP, EOS, LTC, ZEC, XMR, etc., the perpetuity agreement can be fully supported. A perpetuity agreement requires only the forecaster to provide the price of the underlying asset.

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The slippage point is lower than other automatic market makers

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Traders in fixed constant products such as Uniswap (x \* y = k) suffer greater slippage than traders in centralized exchanges (CEX) because k is limited by the liquidity it provides. VAMM of the perpetuity protocol USES an algorithm to set K to provide a lower slide point for the trader.

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Test the startup and trading matches of the web

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2020/7/28 to 8/11, we hosted the first trading contest on the Ropsten Beta website. Here are some of the Numbers:

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A total of 364 people applied for USDT gold, and 265 of them made at least one trade.

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Over the course of the match, traders opened up $128.8 million worth of contracts.

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The average position size was 179.41 ETH/USDT, with a median of 150 ETH/USDT.

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The roadmap

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The team technology has been completed and is currently awaiting the audit results. Upon completion of the audit, the perpetuity agreement will commence in early September.

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After launching, the team will plan to release V2 with the following features, which are also prioritized after we receive feedback from the community:

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Margin account

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Layer 2 scalability

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Leverage tokens,

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Whitepaper lite

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This is the Perpetual ProtocolWhitepaper liteCovers most of the topics related to how the Perpetual Protocol works.

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PERP tokens,

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PERP tokens are the ERC-20 native tokens of the perpetuity Agreement. It has two main functions:

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1. The governance

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Once the holder of a PERP has pledged his token, the pledged PERP can vote on it or come up with a new idea for a perpetuity agreement. It is worth noting that the core contributor to the agreement will be the one making the key decisions until the platform for governance votes on the chain is in place for the holders of PERP tokens. This is a deliberate strategy because we believe it is important to keep governance flexible in the early stages of the agreement.

You can check out the documentation on our website for more information about our governance plan:https://docs.perp.fi/getting-started/governance-plan

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1. The pledge

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PERP holders can lock or "pledge" their PERP tokens into the pool for a fixed period of time. The pledged tokens provide support for the agreement and in return receive a pledge reward. This includes (1) a perP-denominated pledge incentive, and (2) a portion of the network transaction fee.

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You can learn more about pledge here:https://docs.perp.fi/getting-started/how-it-works#staking

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PERP token allocation

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7.5 million PERP: for public sale.

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36 million PERP: Team and consultant.

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$6.25 million PERP: Seed investor. Binance Labs invested in The Perpetual Protocol about two years ago.

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22.5 million PERP: Strategic investor.

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$77.75 million PERP: Ecosystem and rewards. The fund will be used to motivate traders, stakeholders and developers to build ecosystems. As the Perpetuity Agreement transitions to the DAO, the fund will be managed by the perpetuity Agreement community itself.

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The total supply of PERP is 150 million, and future governance can decide to increase the number of PERPs if needed.

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PERP token release program

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The above is the total token release schedule excluding the ecosystem and rewards.

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Balancer LBP for sale: No lockdown

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Teams and consultants: Six months after the launch of the main network, teams begin to distribute tokens, and then quarterly for the next 30 months.

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Strategic investors: Seed and strategic investors begin to distribute tokens immediately after the main network is launched and will distribute quarterly for the next 12 months.

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Ecosystem and Rewards: Before the DAO transition, unlock 10% of the ecosystem and rewards. After the transition to the DAO, all ecosystems and rewards are unlocked.

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For more information on PERP tokens, read:https://docs.perp.fi/getting-started/ske-tokens

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Fluid mining

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The best way to get PERP tokens is through fluid mining. Liquidity mining will begin in late September, and when you trade using a perpetual agreement, you will receive a rebate of 100% or more of all transaction fees. Please see & have spentFluid mining  For more information.

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Balancer pool

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Important! Please read the instructions below. Do not buy PERP tokens too early

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Another way to get PERP tokens is through Balancer Pool. The $7.5 million PERP token will be allocated in the Balancer pool (LBP) and the Shared pool. This is a detailed essay on NBSP;How Balancer LBP works  And & have spentgithub.

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Balancer LBP is only open for three days, to avoid the problem of preemptive deals. It's going to start at a high price and then go down rapidly as the weight of the pool changes. This prevents people from getting ahead of other participants. After a 3-day period, a portion of the proceeds will be used to set up a starter fund for the Balancer Shared pool.

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We have it in the Google form & NBSP;The weight variation and related parameters are introduced in detail. If you're interested.

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The chart below shows the spot price movement in the absence of a buy or sell order:

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Balancer mobile bootstrapper pool execution plan

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Phase 1:

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1. Create a PERP NBSP; with 7.5 million; Balancer LBP of tokens and PERP/USDC of 1,333,333 USDC.

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1. The TDE pool starts with block 10,813,500 and ends with block 10,833,290 (approximately 3 days). Open around 6:00 AM UTC on September 7, 2020.

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1. During this period, the weight will change gradually from start (PERP: USDC = 90:10) to end (PERP: USDC = 30:70).

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1. At the end of the three days, we will stop Balancer LBP and start phase 2.

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Phase 2:

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1. Use the latest TDE pool prices and part of the revenue to start a new Balancer **PERP/cUSDT ** Shared pool. The rest of the proceeds will be returned to the foundation's funds.

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1. Initially, we will use some of our inflation incentives to motivate LPS to provide liquidity for Balancer pool.

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There will be a step-by-step guide for obtaining replacement COINS from Balancer LBP as soon as possible.

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The next step

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We would like to thank our community for sharing their views and providing support throughout the decision-making process. We believe that token allocation will bring more PERP governors and more supporters to our ecosystem.

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For all communications regarding token issuance, please follow the official channel of the Perpetual Protocol to guard against false or misleading deposit addresses.

No member of the perpetual agreement team will ever take the initiative to chat about anything privately about you.

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Legal notices

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PERP tokens are neither investment advice nor investment contracts, nor should they be regarded as such. In contrast, Perpetual Protocol tokens are a way to participate in the community, operate and manage network protocols.

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