Perpetual Protocol to Add Token Rewards Adjustment
Perpetual Protocol is changing its OP token rewards for the Perp v.2.0 pool party program. This strategic move is aimed at reallocating the rewards budget to better facilitate the launch and expansion of Perp v.3.0. From March 11, the OP token rewards will be modified as per the new schedule. It should be noted that after April 1, the weekly rewards will continue as per the April 1 figures until further updates are provided.
Refer to the official tweet by PERP:
Perpetual Protocol (✨🔴_🔴✨)@perpprotocolMar 04, 2024Pool Party Update 🏖ï¸
As we gear up for the exciting launch of Perp v3, we're making some adjustments to our OP token rewards for the Perp v2 Pool Party program. This strategic shift is designed to reallocate our rewards budget to better support the launch and growth of Perp v3.… pic.twitter.com/A3XSO0UnIX
PERP Info
Perpetual Protocol is a decentralized exchange that allows users to trade perpetual contracts on any asset with up to 10x leverage. The project is built on two main mechanisms — the virtual automated market maker (vAMM) and staking.
The virtual automated market maker (vAMM) is a key element of the protocol that enables the exchange to manage liquidity without traditional liquidity pools. Instead of relying on user liquidity deposits, vAMM uses virtual balance weights to manage trading parameters. This provides infinite liquidity, avoids funding shortages, and reduces the likelihood of unacceptable price slippage.
Staking-based rewards are another mechanism used in Perpetual Protocol. The mechanism allows users to stake PERP tokens to earn a portion of the trading fees on the exchange.
PERP is the native token of the Perpetual Protocol project, which serves governance functions, staking, and is used to ensure platform stability.