Back to the list

Perpetual Protocol (PERP) Price Surges More Than 18% In Last 24-Hours

thenewscrypto.com 14 October 2021 02:20, UTC
Reading time: ~2 m

  • The platform has put up an Insurance Fund to cover unanticipated losses.
  • The Perpetual Protocol native token is PERP.

Perpetual Protocol is a feature-rich decentralized cryptocurrency exchange. Crypto derivatives are assets whose value is derived from an asset.

Perpetual Protocol is proud of decentralization and community governance. Users may trade with 10x leverage, boosting earnings while remaining on-chain. It is the biggest derivative DEX by daily volume and has minimal transaction costs.

First-ever, a virtual automated market maker by Perpetual Protocol eliminates the requirement for a third party while increasing efficiency by utilizing just one asset from the pool as collateral instead of both. The platform has put up an Insurance Fund to cover unanticipated losses.

The Curie Release, V2

It also announced a collaboration with WOO Network, a protocol that links traders and DeFi platforms. WOO Network will provide institutional liquidity to Perpetual Protocol through WOOFi.

The platform also released V2, the Curie Release. The V2 offers new features, including scalability, UI/UX enhancements, flexible liquidity, cross margin and multi collateral.

The Perpetual Protocol native token is PERP. The token is desirable as a decentralized exchange for trading perpetual, allowing traders to retain holdings until an unknown future date. Traders are flocking to decentralized exchanges as China tightens its crypto prohibition. PERP, unaffected by the boom since it focuses on derivatives. As a consequence, PERP is down from its September high of $20. However, it had rebounded from a low of $6 two months ago.

Perpetual trading is gaining popularity owing to its many advantages. According to CoinMarketCap, the Perpetual Protocol price is $18.25 USD with a 24-hour trading volume of $141,360,070 USD.

Back to the list