When was PERP coin issued? Learn about the origin of PERP coin in one article

Launched via an ICO on December 16, 2020, PERP coin serves as the native token of Perpetual Protocol, a decentralized derivatives trading platform built on the Ethereum blockchain.

Oct 24, 2024 at 07:56 am

The Origin of PERP Coin: Tracing Its Inception and Evolution

1. Initial Coin Offering (ICO)

Perpetual Protocol (PERP) coin was launched through an ICO on December 16, 2020. The ICO raised approximately $10 million, laying the foundation for the development and launch of the Perpetual Protocol ecosystem.

2. Team and Development

PERP coin is the native token of Perpetual Protocol, a decentralized derivatives trading platform built on the Ethereum blockchain. The team behind the protocol includes industry veterans with extensive experience in finance and blockchain technology.

3. Focus on Perpetual Contracts

Unlike traditional futures contracts, which have fixed expiry dates, Perpetual Protocol enables the trading of perpetual contracts that do not have a pre-defined expiration time. This characteristic provides traders with greater flexibility and the ability to hold positions indefinitely.

4. Decentralized Architecture

Perpetual Protocol operates on a decentralized network, ensuring that trading activities are transparent and secure. The protocol utilizes smart contracts to automate trading processes and eliminate the need for third-party intermediaries.

5. PERP Token Utilities

PERP coin serves several crucial functions within the Perpetual Protocol ecosystem:

• Staking: Staking PERP enables traders to earn rewards, reduce transaction fees, and participate in governance decisions.
• Liquidity Provision: PERP tokens are used to provide liquidity to the Perpetual Protocol markets, incentivizing traders to contribute to the platform's order book.
• Governance: PERP holders have voting rights that allow them to participate in decision-making regarding the protocol's future development.