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Perpetual Protocol Newsletter — Issue #42

CRYPTO_NEWS PERP

New Partnerships, Governance Proposals & More

In the last two weeks we have been busy as always! We announced new partnerships, launched governance proposals and held another community Poker tournament. Our focus going forward stays on hardening the protocol and improving liquidity to provide the best possible experience to our users. Read on below for more details.

 

🛠️ Product

1. Frontend RPC Issues

Some of our users reported issues with loading the frontend due to the public Optimism RPC getting overloaded. We have deployed a fix which should have improved the user experience. Please reach out to us on Discord if you continue to encounter issues.

 

2. Liquidity Mining Update

As shared in the last issue we have updated the rewards calculation of our Liquidity Mining program “Pool Party”. The new formula is based on the amount of time the price is within the LP’s range and the concentration of liquidity. This means only active liquidity will get rewards and concentrated liquidity will get more rewards. The first payout using the new formula was distributed on Oct 24 for liquidity provided during Oct 16–23. Check your rewards here.

 

3. Risk Mitigation on Perp v2

In light of the recent hack of Mango Markets, a money market and perpetual DEX on Solana, we have dissected the exploit to learn from what went wrong and further harden Perpetual Protocol. In our write-up of the incident we provide an overview of the attack, explain why Perp cannot be exploited in the same way and share details on our approach to risk.

 

🤝 Marketing & Partnerships

1. Perp Rewards Programs

2. PerpSim Beta Launch

The beta for PerpSim, a simulation tool built for LPs by Component, is live! Add liquidity to our pools, claim Pool Party rewards and backtest your strategies with an alternative interface tailored to makers.

3. Partnership with Elixir

We’re happy to announce our partnership with Elixir Protocol, the first decentralized, algorithmic market making protocol. Get ready for tighter spreads, reduced slippage, and deeper liquidity.

4. Community Event: Perp Poker #3

Congrats to the winners of our third community Poker tournament — Battle of the Perp Poker Masters #3! Since the Perp community seems to love it, we’re looking to make this a monthly occurrence. Stay tuned for tournament #4 😎

 

🗺️ Team & Ecosystem Updates

1. Governance Vote: Perpvangelist Funding Proposal Passed

We’re happy to share that the governance proposal to fund the Perpvangelist program for another six months has passed. You can find the full proposal and vote here. This proposal was the pilot of our proposed new governance process, for more details see below.

2. Governance Process Revamp

A new vote launched by the core team is live on Snapshot, introducing a temperature check and clearer rules for submitting governance proposals.

TL;DR: The proposal process begins with a 3 day temperature check vote (200k quorum), followed by a 7 day comment period, and finally a 7 day voting period (10% quorum). Read the proposal and cast your vote here.

3. Team Brownbag: Danksharding

Learn more about this scaling upgrade and what puts the DANK in Danksharding in our team brown bag, hosted by Perp’s Senior Software Engineer Kimi Wu.

4. Community Call #38

As usual, we will host a Community Call this Wednesday, November 2nd, to bring you up to speed on the latest and future updates. Join us at 1pm UTC live on Youtube.

 

📚Further Readings

 

Source : perpetualprotocol.medium.com/perpetual-protocol-newsletter-issue-42-abbffd8d6cfa by Perpetual Protocol - November 15, 2022

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