Reflecting on 2 Years of Perpetual Protocol


Perpetual Protocol is 2 years old today! This article reflects on some of the progress made in areas such as community growth, development activity, governance and social reach.All-time volume has reached almost $15 billion with more than 130,000 unique addresses interacting with Perp and more than 7 million swaps executed!


Governance in ActionCommunity is the lifeblood of a DeFi project and with the input of PERP token holders, we’ve seen a number of proposals pass through governance votes on Snapshot.Outlining governance in action, the list below shows the votes that have passed for Perpetual Protocol:In December 2021, a vote was passed to launch the token listing DAO, which have helped us to add new markets, bringing the total to 17:A market making entity was setup in March 2022 to improve the depth of our markets and improve the trader experience on PerpThe first step in our shift to a new tokenomic model occurred in April 2022, with a majority of votes favoring this change. Our new veTokenomic model has now been fully implemented with the recent launch of fee sharing for vePERP holders. Three governance votes followed the second version of PERP tokenomics, namely on the fee distribution parameters for the insurance fund threshold, percentage of fees going to LPs, and split between the DAO treasury and vePERP holders.In the aftermath of the Terra/UST collapse, several votes were held in relation to sunsetting Perp v1, with a solution eventually reached and closure for affected users.During July 2022, a proposal to set up and fund a Community DAO to continue the work of our dedicated Perpvangelists was passed.


Just last month in November, the governance process was revamped to bring it more in line with the standards found in the DeFi community, allowing for better management of protocol governance.Perp is built for the community and our eventual goal is for it to be run by the community. If you have any interesting ideas or want to see Perp go in a particular direction, please post your proposals in our governance forum! We’d love to hear from our community about how to improve the protocol.Perpetual ProtocolDevs are Doing Something!Since going open source in March, the progress of Perpetual Protocol’s development has been fully accessible and open for all to see, displaying the relentless amount of work being put in by our developer team.The charts below show the number of commits for 4 of the main smart contracts for Perp that enable users to trade on-chain in a permissionless way and claim a share of the trading fees:Other repositories not covered by the graphs above, such as the SDK and subgraph which were both open sourced, as well as the contracts for liquidity mining and much more, can all be viewed on our GitHub.Perpetual ProtocolGrants, Grants and More GrantsWe have covered our ecosystem growth in a previous post, and one thing we’re proud of is being one of the DeFi projects that has contributed the most funding to BUIDLers. Since launching in December 2020, we’ve allocated approximately $1 million to grantees, resulting in a flourishing ecosystem.Subscribe to our blog to get updates on the latest grantees. 


If you’re looking to build something on top of Perp, check out how to apply for a grant here.Perpvangelist ProliferationWhen the Perpvangelist program first started, it was a loose group of dedicated builders and contributors. We now have more than 50 Pervangelists arranged into three different circles, each with their own leader, contributing to content, moderation in our Discord server and spreading the good word about Perp internationally.If you want to dedicate your skills to help promote Perp or help out in our community without a full-time commitment, you can learn more about how to join on our website.A big shout out to all of our current members who are doing great work in producing content, helping out our community and making Perp accessible to non-English speakers around the world!Widening Social ReachOur Medium, Twitter and YouTube accounts have been growing steadily over the last 2 years, expanding our social reach and establishing Perp as one of the premier brands in the DeFi sector.With over 2,700 Medium subscribers, 70,000 Twitter followers and more than 1,400 YouTube subscribers, our audience is now much larger than it was 2 years ago. 


Since the start of the year, our Twitter follower count and number of YouTube subscribers have both pretty much doubled! We’ve also hosted a total of 41 community calls to provide updates and answer the community’s questions every two weeks without fail.But our growth is not stopping there as we plan to continue furthering our reach and become an authority in the DeFi space, helping to educate newcomers as well as to accommodate experienced users.Also, as a decentralized project, we’re also betting on the success of Web3 alternatives and hosting our content on the blockchain forever with Lens Protocol and Mirror. We look forward to seeing and supporting more alternatives to Web2 platforms in the future!Follow our Lens profile here and subscribe to our Mirror profile.Finally, we’d like to thank all of our contributors and users for helping to make Perp one of the leading derivatives DEXes in the space. We have much more planned for the near future so stay tuned!LinksWebsiteTwitterDiscordYoutubeOriginally published at on 2 Years of Perpetual Protocol🎂 was originally published in Perpetual Protocol on Medium, where people are continuing the conversation by highlighting and responding to this story. 


Source : [Reflecting on 2 Years of Perpetual Protocol]( by Perpetual Protocol - December 16, 2022

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