What is PERP coin? A comprehensive introduction to PERP coin project in one article

PERP Coin, the native token of the decentralized derivatives exchange Perpetual Protocol, serves as a utility token for trading fees, governance participation, and staking rewards.

Oct 23, 2024 at 10:40 pm

What is PERP Coin? A Comprehensive Introduction to the PERP Coin Project

1. Overview

PERP Coin (PERP) is the native utility token of the Perpetual Protocol ecosystem. Perpetual Protocol is a decentralized derivatives exchange that allows users to trade futures contracts with up to 10x leverage.

2. Use Cases

PERP Coin has several use cases within the Perpetual Protocol ecosystem, including:

• Trading fees: Users pay trading fees in PERP when using the Perpetual Protocol exchange.
• Governance: PERP Coin holders can participate in the governance of the Perpetual Protocol ecosystem by voting on proposals and electing representatives.
• Staking rewards: Users can stake their PERP Coins to earn rewards in the form of PERP tokens.

3. Tokenomics

PERP Coin has a total supply of 150,000,000. The token's distribution is as follows:

• Seed round: 20%
• Private sale: 25%
• Public sale: 15%
• Ecosystem: 15%
• Team and advisors: 10%
• Foundation: 10%
• Liquidity incentives: 5%

4. Performance

Since its launch in December 2021, PERP Coin has performed well in the market. As of February 2023, PERP Coin has a market capitalization of over $350 million and is ranked among the top 150 cryptocurrencies by market capitalization.

5. Conclusion

PERP Coin is a promising cryptocurrency with a strong use case within the Perpetual Protocol ecosystem. As the project continues to develop, the demand for PERP Coin is expected to grow which would likely drive its value higher.