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Recently, there have been questions about PERP, and for those curious about what perp means, let me explain. Perpetual Protocol, commonly known as PERP, is a decentralized derivatives trading platform. Unlike traditional centralized exchanges, here you trade directly with smart contracts.
The platform operates on the Ethereum and xDai blockchains. In my opinion, this design is very clever because it ensures the security of the main network while keeping transaction fees low thanks to xDai. You can trade major cryptocurrencies like BTC, ETH, DOT, SNX, and YFI.
The most interesting aspect is the leverage options. You can open long or short positions with up to 10x leverage. Being able to trade so flexibly with low gas fees truly demonstrates the power of DeFi. The answer to the question "what does perp mean" lies here — a way to perform decentralized yet professional-level derivatives trading.
I especially want to emphasize the gas fees. High costs on traditional DEXs can discourage small trades, but this is not an issue here. Transactions on the Perp platform are much more economical.