A few weeks back I was lucky enough to be brought onboard to the Perpetual Protocol Grants Programme. Me, being an idiot, assumed this was reserved for those who are looking to contribute in a technical way to the protocol… but no, us regular plebs are also invited to help spread the good word of the new V2 through various forms of content.
So, as usual, to help remove the confusion, I am going to highlight how current and previous contributors, both non-technical and technical folk, are helping to build out one of the best exchanges in all of crypto.
For me, I like to write easy to understand guides and highlight specific areas of crypto and DeFi by showcasing a project. So, what better way to help people understand decentralised perps than by explaining how Perpetual Protocol works.
Hopefully, this helps the uninitiated understand what they are using and investing, whilst also helping out the project itself with onboarding. Win-win-win in my book.
So far the Perpetual Protocol Grants Program has funded some incredible projects of all shapes and sizes. Community bots, education, LP management, security, structured products, anything and everything is on the table and take it from me the process has been excellent.
There are a number of chads and Giga brains that are also contributing towards the development of Perp. So let’s take a look at their achievements and hopefully someone reading this will get a little lightbulb moment and also apply to find a way to contribute to this awesome protocol.
Yes… blogmates is the area of the site dedicated to content haha.
If you have read any of the previous Perp articles that we have released on blocmates.com then you will have seen me mention that the underlying market of Perp V2 runs through a virtual AMM which utilises Uniswap V3 liquidity pools.
The beauty of Uniswap V3 is that it allows liquidity providers to select a range on the price curve, in which they want to provide their assets as liquidity. Sounds complicated? Well, it doesn’t need to be…
Some more experienced users may want to become market makers and select their preferred range to supply liquidity. Others may outsource this to a protocol that automatically looks after your LP position and automatically adjusts it to ensure the most optimal yield and hence greater yield through fees.
This is where Charm Finance and their Alpha Vaults come in.
The Perp x Charm partnership allowed those wishing to take the hassle out of being an LP on Perp V2 the ability to do so. Charm benefits from 5% performance fees whilst the users supplying their USDC benefit from the most optimal liquidity management without having to lift a finger.
This is a super cool example of Perp embracing the whole DeFi ethos and encouraging different layers and legos to be built on top of the protocol.
If you have been following our guides you will have potentially seen our Complete Guide to Popsicle Finance.
If not… then let me give you a quick overview. Popsicle allows users to deposit their assets into their vaults, from there your LP position is completely taken care of. The protocol utilises Uniswap V2 and V3 whilst also being a cross-chain liquidity provider.
Again, Popsicle allows for automatic LP management ensuring you have the easiest time possible, effectively outsourcing your liquidity to let the pros do the work whilst you collect the trading fees.
Honestly, good project.
Moving away from liquidity managers, dHEDGE is another Perp developer partner that allows users to follow and mirror the trades of industry professionals. Want to trade like a whale but have the competency of a shrimp? Well, dHEDGE allows you to do this.
You can see how harmonious this partnership is for both protocols. It doesn't take a genius to work this one out. This is copy trading anons on steroids but in a good way…
This one was super interesting to me… Lemma allows its users/depositors to capture arbitrage opportunities between the difference in the spot price of an asset and the current derivative price on the Perp Protocol. Cool, eyy?
The position is actively managed, so users can effectively deposit their USDC to the protocol for it to automatically start being paid through the funding rate aspect of the DEX.
Basis trading is typically a useful strategy in TradFi markets but is super transferable through this partnership with Perp and, if you ask me, is way cooler.
What is this then? At first glance, it looks like I am plugging another DEX… SHAME ON ME. But, no this is actually a UI/UX built on top of Perp V2 which enables advanced trading features.
Apex Win utilises the Perp Protocol with a few additional features. Stops, limit orders, trailing stops are all available in an extremely familiar environment. You would at first glance assume you were trading on a CEX, the UI is that good.Again, this is just another ridiculously cool example of how open to collaboration and contribution Perp are. They really embody the DeFi ethos, kudos.
I’d recommend trying the default on Perp itself and then trying out Apex Win to see which trading experience you prefer. At the end of the day, if you are a perp champion, then both protocols are supporting the DEX.
If you don’t know about Bankless by now and you are operating in the DeFi realm, you need to stop what you are doing and check them out.
On a personal note, I watch their YouTube content almost religiously and subscribe to their newsletter for all the alpha.Getting back to the article… Bankless has provided some invaluable content on Perpetual protocol, not just V1 but also more recently covering V2 as well.
BanklessDAO Perpetual Protocol Articles -
- Perpetual Protocol Backs Ease-of-Use Applications - (Top of the list as blocmates is covered in the article… shameless).
- Is PERP Undervalued?
- Bankless DAO 🤝 Perpetual Protocol
I thought it would be best to include this kind of contribution to show readers the full spectrum of developers and contributions that Perpetual Protocol is looking for.
So, that’s about it. I feel super grateful and humbled to be involved with such a cool project and to be amongst so many Giga chads building on top of Perp. I get an awful lot of messages asking how to get involved in crypto and DeFi from people with all types of skill sets and these kinds of opportunities sometimes fall on your lap if you put yourself out there and create something.
I encourage anyone with any form of contributive skill to get after it. These days won’t last forever, we are in a golden age so don’t waste it.If you have an idea that you think would be mutually beneficial to Perpetual Protocol V2 you can reach out to them through the links below. I couldn’t recommend applying for the Grants Programme anymore if I tried.
(5/6)👔 🤝Aside from building v2, our BD team is continuously expanding our ecosystem.
We have the onboarded 6 projects and 20+ grant partners.🧑✈️ Hats off to @tongnk, @RAYBEAZY and @robertperpfi https://t.co/785W1Lhx82— Perpetual Protocol | V2 Is Live! (@perpprotocol) December 16, 2021
Please give me a shout if something doesn’t make sense, I am more than happy to help. You can also head to the Perp Discord for direct communications with the team and community.
Also if you do want to start using Perpetual Protocol and also want to support us here at blocmates, you can simply click the image below to “sign up” with our referral link, thank you if you decide to do this!