PERP is a utility token used for governance and staking with a fixed supply of 150 million PERP.
Tokenomics are currently under revision. Check out the following articles for info about the upcoming changes (note that details may change between now and the tokenomics launch, expected in Q2 2022):
- Initial proposal: https://gov.perp.fi/t/proposal-perp-v2-tokenomics/642
- Fee sharing, etc.: https://gov.perp.fi/t/proposal-fee-distribution/657
- veTokenomics overview: https://blog.perp.fi/vetokenomics-explained-6b9c5683cddb
The PERP token was launched in September 2020 using Balancer's Liquidity Bootstrapping Pool (LBP), where 7.5 million tokens (5% of the total supply) were distributed to over 1,200 participants.
An LBP is basically a weight shifting pool designed for token distributions that create constant downward pressure on the price, preventing front-running and price speculation. Read more about why we chose the LBP method here. Perpetual Protocol was the first project to launch an ERC-20 token using this innovative distribution method.
The distribution of PERP is displayed below:
- All investor tokens have been fully issued and vested. Seed and strategic investors received either 1/4 or 1/5 of their tokens each quarter following the v1 mainnet launch (December 15, 2020).
- Initial investor price was $0.08.
- 31.5 million PERP tokens are to be allocated to the team (21% of total supply).
- Team tokens began unlocking 6 months after mainnet launch (June 15, 2021) at a rate of 2.1% per 3-month period. 90% of these tokens are currently being held or staked by the team, with around 10% being distributed to team members so far.
- All remaining tokens ('Ecosystem & Rewards' section in the pie chart above) and token minting may only be used with a mandate from the Perpetual DAO. Currently this mandate is granted via voting on governance proposals.
- Current use of DAO tokens include rewards, grants, and funding for other proposals, which have been issued since March 2021. See gov.perp.fi for past and present proposals.
There may be PERP tokens that are not genuine. Be sure to check you are trading the correct token.
The following are known PERP tokens on various chains:
- Ethereum mainnet:
Main token wallet
Locked rewards pool and investor/team token supply.
|0xd374225abb84dca94e121f0b8a06b93e39ad7a99||Perpetual DAO Treasury|