Recently, many people have been asking about perpetual contracts, so I’d like to talk about the Perpetual Protocol project.

This platform is quite interesting. It uses the xDai scaling solution, which makes transaction speeds much faster than the Ethereum mainnet, and all transactions are gas-free, saving a lot of costs for frequent traders. All trades on the platform are settled in USDC, ensuring fund security.

Most importantly, users don’t need to set up complicated wallet configurations in advance. They can trade directly with MetaMask or other compatible wallets, lowering the entry barrier significantly. After depositing USDC, you can start trading, and the entire process is quite smooth.

Regarding the PERP token, it is the governance token of this protocol, based on the ERC-20 standard. The word "perp" simply means perpetual, which in this context refers to perpetual contracts. PERP token holders can participate in the protocol’s decentralized governance proportionally, with voting rights.

Perpetual protocols are essentially a DeFi derivatives platform focused on perpetual contract trading. Users can bet on the future price movements of crypto assets without waiting for spot delivery. This design makes derivatives trading more flexible and efficient.

The platform was founded by Yenwen Feng and Shao-Kang Lee in 2018, both of whom have solid backgrounds in blockchain and crypto. Their initial goal was to demonstrate how DeFi infrastructure can support the development of the derivatives market.

Besides trading itself, the Perpetual Protocol also attracts users through trading mining and liquidity incentives. This mechanism makes the ecosystem more active. If you’re interested in perpetual contracts, you can check out the relevant assets’ prices on Gate and try it out.