PERP - Perpetual Protocol

What is Perpetual Protocol (PERP)?

Perpetual Protocol (PERP) is a decentralized protocol designed as a trustless ecosystem for trading derivative contracts, eliminating the need for traditional financial intermediaries. One of the key distinguishing features of PERP is its commitment to trustlessness. It accomplishes this by operating solely through meticulously written code, housed within a collection of smart contracts initially deployed on the Ethereum blockchain. These smart contracts are engineered to seamlessly communicate and replicate the essential services found in traditional derivatives markets. However, due to large gas fees, the protocol later transitioned to xDAI (Gnosis Chain) in 2020. Furthermore, in 2021, the network launched Perp v2 on Optimism, ultimately closing the v1 protocol on xDAI. The PERP token is an ERC-20 asset and resides on the Ethereum blockchain.

What sets PERP apart is the profound shift in trust dynamics. In a world where traditional financial systems often require users to place their trust in specific institutions or individuals, PERP champions a different approach. Users of Perpetual Protocol need only trust in the smart contracts' code itself. The code serves as the ultimate arbiter of trades, ensuring that each transaction executes precisely as specified without any external influence or manipulation. Learn more

How to Deposit PERP Into Your Coinmetro Account

For all information on how to deposit PERP into your Coinmetro account, please see the following help center article: How to Deposit PERP.

As Coinmetro uses smart contracts for Ethereum and ERC-20 token deposits, the amount of gas required is slightly higher than a typical transfer. To be sure that your transaction is successful, please set the transaction gas limit to 55,000 for ETH. The fee difference is minimal. If your gas limit is too low, the transaction will simply be rejected by the Ethereum network. There is no risk of loss of assets caused by a too-low gas limit.

If you're depositing from another exchange, it is important to ensure they support sending funds to ETH contracts or using a full ETH wallet as an intermediary.

How to Withdraw PERP From Your Coinmetro Account

For all information on how to withdraw PERP from your Coinmetro account, please see the following help center article: How to Withdraw PERP.

Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be confirmed via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.

Withdrawals waiting for approval can be canceled and the withdrawal status can be found by selecting the Wallet on your Coinmetro Dashboard. Please note that already-approved withdrawals cannot be canceled. If there is no Cancel button visible, this unfortunately means the withdrawal can no longer be canceled, and you will find a transaction ID (TXID) instead. This is a link to the relevant transaction hash on a Blockchain Explorer website where the status can be checked further.