Perpetual Protocol Newsletter

By Perpetual Protocol Team

Bi-weekly Update #18 (2021/11/1~11/15)

#18・ Nov 12, 2021

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Bi-weekly Update #18 (2021/11/1~11/15)

By Perpetual Protocol Team • Issue #18 • View online

Sorry that this issue is a bit late! Our writer was busy with the Perp v2 testnet trading competition aka The Perpfect Game last week – it won’t happen again.

One more note before we begin. We’re changing our email provider from Substack to Revue starting the next issue.

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Highlights from the last development sprint

💻 Web

1. Leaderboard for Testnet Trading Competition

At this point, you’ve probably already seen it. We modified the leaderboard used for previous trading competitions to support v2.

2. Add Funding Payment History on UI

The funding payment history is live on the UI. If you haven’t had a chance to try out our new UI, you can get some testnet tokens here to play around with the testnet here.

🤝 Partnership/Marketing

1. Host Perp v2 testnet trading competition

In preparation for the mainnet launch, we hosted The Perpfect Game, the Perp v2 testnet trading competition with a prize pool of over $3M. Judging from the number of participants, it’s the most successful trading competition we’ve held to date. Check out the game recap here.

2. New Bankless DAO’s article

Bankless DAO produces another article focusing on our grantees! You can check what they’re building on top of the protocol and how they feel about our Grants Program here.

3. Perpetual Protocol NFT drop

Are you a $PERP OG? We prepare a series of NFTs with different acquisition conditions to reward our supporters. You can check if you’re eligible to receive any by going to our portal on Project Galaxy.

To-dos in this development sprint

📑 Smart Contracts

1. Auditing V2 (🏁 finish line in sight!)

ABDK’s audit is done and so is our internal audit. HashCloak is still in the middle of theirs. Dedaub’s audit has been scheduled and will start at the end of November.

2. Separate the position from maker and taker

If you’ve tried out the leveraged liquidity provision on Perp v2 testnet, you probably felt confused seeing a new open position after you provided liquidity. To avoid such confusion, we’ll separate the impermanent position from the maker and the permanent position from the taker at the contract level.

3. Write an Integration Guide (🚧 still a work in progress!)

To speed up the integration process for our partners, the smart contracts team has started to work on an integration guide for Perp v2 to help keep pace with our BD team.

🛢 Backend

1. Work on monitoring services

To prepare for the upcoming mainnet, we need to set up the monitoring services that will notify the team when something is wrong. Scenarios like the Arbitrum’s RPC we used is broken, ETH balance is low on the keepers, abnormal fund movements, etc.

2. Accounting verification on the smart contract

Our backend team will check if the balance for each address is correct on the smart contract when The Perpfect Game concludes (i.e. no one gets more or less than what he/she is supposed to get).

💻 Web

1. Maker UI (🚧 still a work in progress!)

If you joined The Perpfect Game you saw it and you probably agree that function-wise it’s ready, but aesthetically there’s room for improvement. We’ll be improving on the aesthetics of the UI in this sprint.

2. Liquidity Mining UI (🚧 still a work in progress!)

We’ll launch a liquidity mining campaign along with the launch of v2 to encourage people to provide liquidity on the protocol. There will be a UI that allows users to stake their LP NFT on the liquidity mining smart contract.

3. Translating Errors from Smart Contracts into Human Readable Format (🚧 still a work in progress!)

One common complaint from v1’s UI is the error messages–users weren’t sure what they meant. For v2’s UI, we hope to provide more helpful error messages and hence reduce the burden on customer support.

🤝 Partnership/Marketing

1. Coinmarketcap’s Earn Program

We provided $50,000 worth of $PERP to incentivize people to learn more about Perp v2 and why it’s exciting. The first 10,000 participants who pass the quizzes will be rewarded with $5 worth of $PERP. Get paid to learn here.

Ecosystem Updates

🦧 Apex.win

The largest 3rd party UI for Perpetual Protocol with advanced order types.

The developers have shipped their latest UI, which not only looks gorgeous but can also display your position from perp.exchange (your wallet) and apex.win (smart contract wallet). Check it out here.

🔍 Perp Connect

An iOS and macOS app where users can trade on Perpetual Protocol v1 by non-custodial wallet (Torus).

The app is still in beta, but you can try it out with the Testflight app here. Both iOS and macOS will be supported. You can check the full features that the app will support here.

🧠 Bankless DAO

A decentralized community driving adoption and awareness of bankless money systems.

The last article that we commissioned from Bankless DAO is out! In the following weeks, they’ll work on the perpetual future contracts trading course.

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By Perpetual Protocol Team

The latest totally not derivative bi-weekly update from the Perpetual Protocol team.

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