By Luke - Crypto Retailer - 01-12-2021
Perpetual Protocol (PERP) v2, an incentive distribution software, will soon be launching on the layer-2 Ethereum (ETH) Network. The Perpetual protocol will be released to Optimism Mainnet; the integration will reportedly minimise the costs needed to trade crypto and accelerate transaction speeds. The protocol is a decentralised perpetual futures exchange; the exchange was transferred to the Layer-2 location within the Ethereum ecosystem; more precisely, the protocol was moved into the roll-up scaling solution Optimism. The new launch was Ethereum's most recent strategy to create the best running decentralised cryptocurrency trading platform.
As previously mentioned, the Perpetual Protocol makes trading more affordable and fast. The protocol also relies on Ethereum's strength in security and its decentralised blockchain technology. Its native cryptocurrency PERP powers Perpetual, also, the more users buy PERP crypto tokens and hold them, the more voting rights they have. Perpetual's strategy for governance ensures that those who are financially invested and are buying PERP cryptocurrency are rewarded by having a say in changes to the network.
Reportedly, in the testnet launch for the protocol, around 3,000 users in a contest had a total generated trading volume of 480 million over seven days. According to statistics and data from the testnet, trading slippage had improved by a drastic 900% since Perpetual's version 1 system. Users have also seen a 4,600% decrease in gas fees making Perpetual Protocol v2 far superior when operating within the Optimism Mainnet.