Perpetual Protocol PricePERP

What is Perpetual Protocol (PERP)?

Perpetual Protocol (PERP) is a decentralised derivatives exchange built on Ethereum, designed to let users trade perpetual contracts without an expiry date. According to the project's documentation, the platform provides access to a range of derivatives covering cryptocurrencies, gold, and other commodities, aiming to open traditionally complex financial instruments to a broader audience. Its core technology is the Virtual Automated Market Maker (vAMM), which is used for price tracking rather than direct token swaps. PERP is an ERC-20 token with a total and maximum supply of 15,00,00,000 tokens. The project was originally conceived under the name Strike and later rebranded to Perpetual Protocol, with the original SKE token renamed PERP. The protocol has gone through multiple phases, including a second version called Curie launched on Optimism in November 2021, and more recently the team announced it was sunsetting Perp v2 while developing new products.

Key Specifications & Tokenomics

• Name: Perpetual Protocol
• Symbol: PERP
• Former Name: Strike / Strike Protocol (token formerly SKE)
• Blockchain/Platform: Ethereum (ERC-20), also using xDai sidechain and Optimism Layer 2
• Token Standard: ERC-20
• Contract Address (ERC-20): 0xbc396689893d065f41bc2c6ecbee5e0085233447
• Category: Decentralised derivatives exchange / DeFi protocol
• Total Supply: 15,00,00,000 PERP
• Max Supply: 15,00,00,000 PERP
• Circulating Supply: Reported figures vary by source, including 13,21,47,093 PERP and approximately 6,60,02,157 PERP (about 44% of total supply) depending on the data provider and snapshot date
• Launch/Start Date: Sept. 8, 2020 (as listed by Yahoo Finance)
• Consensus Mechanism: Information not publicly specified for the token itself; sources list differing or inconsistent details
• Core Technology: Virtual Automated Market Maker (vAMM)
• Settlement: USDC stablecoin
• Governance: Community governance via DAO

Who created Perpetual Protocol?

Perpetual Protocol was co-founded by Yenwen Feng and Shao-Kang Lee. The team originated in Taiwan, and both founders had previously worked together on another decentralised derivatives protocol called Cinch Network, which focused on options trading, as well as an accounting software company serving crypto businesses. According to available information, Feng and Lee began developing Perpetual Protocol as part of a Binance incubator programme. Corporate data sources offer differing headquarters locations, with some listing Singapore and others France, so the exact registered location is not consistently confirmed. The project's official X account describes the team as the creator of WildeFinance and Nekodex_app. Detailed public information on the full team roster is currently limited.

How does Perpetual Protocol work?

Perpetual Protocol operates as a non-custodial, smart contract-driven platform. Its central innovation is the vAMM, which is based on the automated market maker model popularised by Uniswap but adapted for leveraged and short trading. Unlike a standard AMM that both facilitates swaps and discovers prices, the vAMM is used only for price tracking to manage leveraged and short positions. The protocol settles perpetual contracts using the USDC stablecoin, and its collateral system is designed to minimise the risk of impermanent loss within the protocol. The platform combines oracles with internal algorithms to support correct asset price information and price formation. The second version, Curie, launched on Optimism and adjusted the original vAMM model to integrate more closely with traditional Uniswap-style AMMs. Perp.com describes support for leveraged, no-expiry long and short positions on real-world event probabilities, with margin, funding, and settlement completed on-chain, and margin available as either cross or isolated.

What makes Perpetual Protocol unique and valuable?

Perpetual Protocol's main differentiators include its vAMM design, which enables leveraged and short positions on an AMM-style exchange while aiming to deliver efficient liquidity and high throughput. The protocol was designed to generate an AMM suitable for low-liquidity futures, allowing long-tail assets to be traded because liquidity is built in. It also aims to reduce impermanent loss for liquidity pool participants and to minimise price manipulation risk through a hybrid system of oracles and internal algorithms. A low-fee structure is a key selling point, supported by Layer-2 scaling integration for fast transactions and low costs. The project positions itself around democratising powerful trading tools and expanding economic inclusion by making perpetual contracts accessible to anyone. Its stated mission includes bringing complex, traditionally centralised financial instruments into an open, decentralised environment.

What is Perpetual Protocol used for?

The PERP token serves several functions within the ecosystem. It can be staked to earn interest, and staking rewards are tiered according to the number of tokens a user locks. Holders can also receive kickbacks on the platform's transaction fees. PERP is used for community governance through a DAO, giving token holders a role in decision-making. Users can lock tokens in smart contracts to earn rewards, and those rewards can be reused to participate further in the system. On the trading side, the platform is used to take leveraged long or short positions on perpetual contracts across cryptocurrencies, gold, and other commodities, as well as on real-world event probabilities through Perp.com. Perpetual contracts have no expiry date, which allows traders to maintain exposure without the need to roll over positions as they would with traditional futures.

How Is the Perpetual Protocol ecosystem developing?

The ecosystem has evolved through several stages. Perpetual Protocol v1 launched in 2020, and the v2 protocol, Curie, went live on Optimism in November 2021. During the transition from v1 to v2, a large trader in the CREAM token was liquidated, putting the insurance fund at risk; the team temporarily halted all trading and used community governance to distribute remaining funds to users. After that, only Perpetual v2 remained live for trading. The official X account states that the team is sunsetting Perp v2 and actively developing new products, and it identifies the project as on-chain perps trading with built-in yield strategies, crediting the creation of WildeFinance and Nekodex_app. The platform has served more than 15 markets. However, the ecosystem has faced significant headwinds, including delistings from several major centralised exchanges in 2025 and early 2026, which reduced liquidity and visibility. The broader perpetual futures market has seen strong volume growth, and there is discussion in Europe about launching an ETP tied to a leading perp DEX token, which could benefit established players like PERP if realised.

How to mine Perpetual Protocol?

PERP is not a mined proof-of-work cryptocurrency in practice, despite some third-party listings showing inconsistent consensus details. The token is an ERC-20 asset on Ethereum, and its primary distribution and reward mechanism is staking rather than mining. Users can stake PERP to earn interest, with reward tiers based on the amount locked, and can lock tokens in smart contracts to earn rewards that may be reused within the system. Stakers may also receive kickbacks on platform transaction fees. Because there is no public mining algorithm defined for PERP in the available reference material, anyone seeking to earn PERP should focus on staking and protocol participation rather than hardware mining. Always verify current staking terms through official project channels, as reward structures can change over time.

How to keep your Perpetual Protocol Coin safe?

Because PERP is an ERC-20 token, it can be held in compatible Ethereum wallets, including non-custodial options that give you full control of your private keys. For long-term storage, a hardware wallet is generally recommended, as it keeps keys offline and reduces exposure to online threats. Never share your seed phrase or private keys, and be cautious of phishing sites that imitate official project pages. Since the protocol is non-custodial, users interacting with it retain control of their funds, but they are also responsible for the security of their own wallets and for verifying contract addresses before approving transactions. Keep your wallet software updated, double-check token contract addresses, and consider using separate wallets for trading and long-term holding. Given the project's history of exchange delistings and shifting product direction, staying informed through official announcements is also important for managing risk.

How to buy Perpetual Protocol Coin?

PERP may be available on select exchanges, though availability has changed over time due to delistings and shifting market conditions. For a secure and liquid trading experience, using a major regulated platform like BTCC is recommended.

• Register a BTCC Account: Sign up using your email or mobile number and complete the KYC verification to unlock more features and benefits of the platform.
• Deposit Funds: Deposit fiat currency (via bank transfer, card, or third-party payment) or transfer USDT from an external wallet into your BTCC account.
• Start Trading: Go to the trading page and search for the spot trading pair PERP/USDT or the perpetual contract PERPUSDT.
• Place an Order: Enter the amount of PERP you wish to purchase and submit the order. For contract trading, you can also choose to go short (sell) and adjust the leverage multiplier according to your strategy and risk tolerance.
• Confirm Your Purchase: For spot purchases, check your personal account to see if the coins have arrived. For contract trades, check the trading page to see if your order was filled successfully.