Recently, I took a fresh look at PERP and deepened my understanding, and I found out that it's actually a pretty interesting protocol. Perpetual Protocol is essentially a digital marketplace where you can trade with leverage on the price fluctuations of various assets.

It uses a system called perpetual futures contracts, which are specialized trading products linked to the prices of other assets. The key feature is that you can use borrowed funds to hold positions up to 10 times your own capital. Unlike traditional exchanges, it automates price setting through smart contracts to ensure fairness.

And here’s the important part: the backbone of Perpetual Protocol is the PERP token. This isn’t just a trading token; it’s a governance token that grants voting rights to decide on the protocol’s management policies. The more PERP you hold, the stronger your influence on the protocol’s development directions. Additionally, locking PERP can earn you extra rewards, making it quite beneficial for long-term holders.

The protocol itself started in 2019 and has been continuously evolving. Over time, it improves the system and rewards users who contribute to its development. Currently, the total supply of PERP tokens is 150 million, with about 72,609,864 in circulation. The latest price is around $0.03, down approximately 1.78% over the past 24 hours.

I think the reason Perpetual Protocol is supported is due to its transparent system and governance structure that allows users to actively participate in management. You can also check the trading status of PERP on Gate.io, so if you're interested, it might be worth taking a look.