Perpetual Protocol was founded in 2018 by Yenwen Feng and Shao-Kang Lee and was originally known as “Strike” before changing its name over a year ago. The Ethereum blockchain serves as the foundation for the Perpetual Protocol. Let’s discuss more about it and how to buy Perpetual Protocol (PERP) in India.
What is Perpetual Protocol (PERP)?
The Perpetual Protocol is a decentralized exchange (DEX) for Ethereum and xDai futures contracts. Traders may trade long or short on an increasing variety of assets such as BTC, ETH, DOT, SNX, YFI, and others with up to 10X leverage. Trading is non-custodial, which means that traders keep control of their assets at all times, and it is done on-chain.
Perpetual Protocol employs a virtually automated market maker (vAMM) to offer on-chain liquidity with predictable pricing determined by consistent product curves. Furthermore, Perpetual Protocol’s vAMM’s are market-neutral and completely collateralized.
Perpetual Protocol, like Uniswap and PancakeSwap, is a decentralized exchange that allows users to trade with leverage, short positions, and low slippage. It is a smart contract that executes trades using automated market makers (AMMs) rather than people or institutions.
Key Features of PERP
Perpetual Protocol’s stated goal is to build the world’s most excellent, most accessible, and secure decentralized derivatives trading platform. The firm embraces the “DeFi money lego” mentality by creating our DeFi initiatives and letting projects build on Perpetual Protocol. Perpetual Protocol intends to extend to other chains, add leveraged tokens, and launch dynamic liquidity in its pools after completing several milestones on its roadmap, including creating staking pools and introducing limit and stop orders.
- 10x Make Use of On-Chain Perpetual Contact: Traders may trade with up to 10x leverage, long or short, with clear costs and assured liquidity 24 hours a day, 7 days a week.
- Any Asset Can Be Long Or Short: A perpetual contract can maintain every asset on Perpetual Protocol. Perpetual Protocol can support gold, fiat, BTC, BCH, ETH, ERC-20s, XRP, EOS, LTC, ZEC, XMR, and more. Perpetual Protocol requires an oracle price feed for the underlying asset.
- Slippage Is Lower Than In Other AMMs: Traders on constant product (x*y=k) market makers such as Uniswap have more slippage than traders on centralized exchanges (CEXs) since k is limited by the liquidity available. The vAMM of the Perpetual Protocol may set K algorithmically to give traders with decreased slippage.
How To Buy Perpetual Protocol (PERP)?
You can buy Perpetual Protocol (PERP) in India from several different exchanges but a trusted firm like BuyUcoin is important. With BuyUcoin you can trade PERP in India along with 130+ cryptocurrencies in INR and USDT pairs.
Buy Perpetual Protocol in India — Step by Step Guide For Beginners
BuyUcoin is a cryptocurrency exchange in India that allows you to buy and sell Perpetual Protocol and other cryptocurrencies. The following is a step-by-step tutorial to purchasing Perpetual Protocol with BuyUcoin:
Step 1 — Open a Digital Wallet
A digital wallet stores your currency and communicates with other citizens using blockchain technology. It is critical to conduct an extensive study before determining what is best for you. There are, nevertheless, several digital wallet providers. BuyUcoin is now the #1 digital cryptocurrency wallet.
Step 2 — Register & Open an Account
Choose your person or corporation form of a report when you enter the BuyUcoin/Signup account, register, and establish a service account. Select your country and follow the terms and conditions of your cryptocurrency trading account.
Step 3- KYC
KYC and AML are required in the Indian jurisdiction. Your information is protected and encrypted, and it is exclusively held in Indian data centers. You are moved to another URL to finish your KYC. Please be prepared with your last selfie. Photographs of your pan card are necessary. The cellphone number associated with your Aadhar card is critical.
Step 4- Google 2 Step Verification
To utilize 2FA, you must have the Authenticator app activated on your smartphone or tablet. If you enable it, every time you log in to your BuyUcoin account, you will be prompted to provide a 6-digit one-time password in addition to your email and password. This only works when an email address and password are entered.
Step 5- Add Bank Details
Fill up your name, the account holder’s name, and the IFSC code.
Trade Perpetual Protocol (PERP)
The term “trading pair” refers to a different cryptocurrency, such as bitcoin (symbol BTC), that you exchange for PERP coins. PERP-INR and PERP-USDT trading pairs are available on the exchanges listed. To execute the trade, you must deposit the fiat currency into the exchange account associated with your account.
Certain exchanges allow users to buy currencies directly from them. You can also purchase a similar trading currency to PERP elsewhere and then transfer it to an exchange wallet.
Can I Use Regular Money to Buy Perpetual Protocol(PERP)?
Yes, you can use ordinary money or any fiat currency in India, such as PERP-INR, to acquire PERP tokens. PERP can be saved in your wallet with a simple touch to purchase or sell your desired cryptocurrencies without any hidden transaction fees using one of India’s top cryptocurrency exchange, BuyUcoin.
Getting a PERP Coin Wallet
BuyUcoin is a multi-currency crypto wallet that uses cold storage wallets to store PERP Coins. We’ll send you a confirmation email once the PERP has been sent to your wallet. When you restart the BuyUcoin wallet, the PERP will display. The PERP coins will be visible in your wallet after restarting your BuyUcoin wallet.
Perpetual Protocol Coin Exchanges
If you wish to trade Bitcoin for PERP, BuyUcoin is one option. Using an easy-to-use interface, you may even pay with your credit or credit card. BuyUcoin demands your ID and address when you register. This complies with anti-money laundering (AML) regulations and is familiar with your customer’s legislation (KYC).
Many exchanges regard ID checks as the ideal solution, although they are technically not a legal necessity in most countries. It aids in the avoidance of the use of exchanges for illicit behavior. However, there are genuine reasons why you should not expose your identity to a merchant who respects your privacy.
The value of Perpetual Protocol is expected to rise further as scarcity encourages price increases. Please keep in mind that any investment involves some risk. Simply invest in what you are capable of accomplishing before drawing any conclusions and conducting as much research as possible.