PERP

Overview of PERP

Perpetual Protocol (PERP) is a decentralized finance (DeFi) protocol launched in 2020. It was co-founded by Yenwen Feng and Shao-Kang Lee. It functions on the Ethereum blockchain and is a system for the trading of perpetual contracts, which are agreements between buyers and sellers with no expiry date, hence enhancing flexibility in cryptocurrency trading.

PERP enables traders to long or short digital assets with up to 10x leverage, which has the potential to amplify their profits or losses. It operates on a virtual automated market maker (vAMM) model, which aims to facilitate trading by adjusting the price of digital assets based on supply and demand. Prices are synced with those on external markets using an oracle mechanism to decrease the risk of price manipulations.

The native token of the Perpetual Protocol is the PERP token, and it serves various functions within the protocols ecosystem including staking and governance. It is tradable on various cryptocurrency exchanges, such as Binance, Uniswap, and SushiSwap. MetaMask Wallet is one of the known wallets recommended for storing PERP tokens.

Pros and Cons

PERP Price Prediction

The Perpetual Protocol (PERP) token is forecasted to see significant price movements in the coming years. For 2030, the token is expected to oscillate between a low of $0.01529 and a high of $23.62. By 2040, the cryptocurrency is predicted to reach a peak of $1.66, with a minimum price of around $0.001301, trading within that range. As we look ahead to 2050, technical analysis indicates that Perpetual Protocol's minimum price will be approximately $0.06063 and the maximum price will be $11.48, with an average trading cost estimated at about $3.02.

Exchanges to Buy PERP

Several cryptocurrency exchanges support buying Perpetual Protocol (PERP), these include:

1. Binance: Binance, one of the leading and largest cryptocurrency exchanges globally, supports PERP trading. Pairs available include PERP/USDT, PERP/BTC, and PERP/ETH.

2. Uniswap: Uniswap, a decentralized exchange built on Ethereum, presents the ability to trade PERP. The primary pair available is PERP/ETH.

3. SushiSwap: Another decentralized exchange on Ethereum, SushiSwap also supports PERP trading. The PERP/ETH pair is predominantly traded.

4. FTX: FTX is a cryptocurrency derivatives exchange that supports traditional cryptocurrency trading. The platform supports the PERP/USD trading pair.

5. Gate.io: Gate.io is a cryptocurrency exchange offering PERP trading. PERP/USDT is among the supported trading pairs.

How to Store PERP？

Storing PERP tokens requires a digital wallet that supports Ethereum based ERC-20 tokens since PERP is built on the Ethereum blockchain. Here are the types of wallets that you can consider for storing PERP:

1. Software Wallets: These wallets are programs that you can install on your desktop or mobile devices. A popular software wallet that supports ERC-20 tokens like PERP is MetaMask. MetaMask is a browser extension and mobile app that comes with an inbuilt swap feature and it's also widely used to interact with numerous DeFi platforms.

2. Hardware Wallets: Often considered the safest option, hardware wallets are physical devices that store your tokens offline. Examples include Ledger and Trezor, both of which support ERC-20 tokens including PERP.