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Issue #32 - New Collateral, Running Perp Maker Bot and Arbitrageur & more

Perpetual Protocol Newsletter
Issue #32 - New Collateral, Running Perp Maker Bot and Arbitrageur & more
By Perpetual Protocol Team • Issue #32 • View online
Hi everyone,
We’re back with another issue of our bi-weekly newsletter! No matter the market conditions, we’ll keep BUIDling and keep you up to date on the process and new features we’re shipping. As usual, read on below to learn more.

Highlights from the last development sprint
🛠️ Engineering
1. New Collateral: $FRAX
Perpetual Protocol (✨🔴_🔴✨)
📣 Multi-collateral update: now supporting $FRAX!

We're excited to share that you can deposit @fraxfinance's stablecoin as collateral to trade and market-make on
2. How to Run Perp Maker
After open-sourcing the code of our maker bot we have shared a detailed guide on how to automate your market-making strategy Part 1 and Part 2, written by our talented team member Weiting (long-time readers might remember him as the former newsletter writer). Join us for the workshops where we’ll walk you through all the steps to set up the bot on Wednesday, June 15th at 2pm UTC. A link to join the Zoom call will be provided before the session. Add the event to your calendar here.
3. How to Run Perp Arbitrageur
Same goes for the Arbitrageur: You can find the detailed article on how to run the Perp Arbitrageur and set up an automated arbitraging strategy between Perpetual Protocol and FTX here. The workshop will take place on Friday, June 17th at 2pm UTC. We will share a Zoom link to join the session a few hours before. Add the event to your calendar here.
💻 Web 
1.  Support for Coinbase Mobile Wallet
Perpetual Protocol (✨🔴_🔴✨)
Do you like to trade crypto on the go?

Good news if you use @CoinbaseWallet, you can now trade or LP via your mobile device!📱
🤝 Marketing & Partnerships
1. New Content on our Youtube Channel
We have uploaded two new tutorial videos on our Youtube channel! Learn how to bridge funds to Optimism and deposit on Perp v2 “Curie” or learn more about the new multi-collateral feature and how it works with ETH or wETH as collateral.
How to Bridge to Optimism & Deposit on Perpetual Protocol
How to Trade with Multi-collateral on Perpetual Protocol
2. OP Ecosystem Poker Tournament
We had a great time joining the inaugural OP Ecosystem Poker Tournament, hosted by Lyra. Two of our contestants made it to the last table, with Fenix from Teahouse coming in second place and degen from our community reaching sixth place. The internal qualification tournament was a lot of fun as well, let us know if you want to have Perp Poker tournaments on a regular basis!
3. CMC’s “The Capital” Conference
Our co-founder Yenwen Feng joined CoinmarketCap’s “The Capital - Time to Ship” Conference. Listen to the recording of the panel on current trends in DEXes here.
4. DeCommas Basis Trading Mainnet Launch
DeCommas’ basis delta-neutral vault is now live on Optimism. The automated basis trading strategy built on top of Perp v2 “Curie” allows users to automatically extract yield from positive funding rates. The vault is in “test in production” mode and has a limited capacity of 50,000 USDC which was reached shortly after launch. We’ll update you once the deposit capacity is increased.
To-dos in this development sprint
1. Limit Order
Ready for a sneak peek? 👀
2. vePERP Tokenomics Part 1
Due to the complexity of completely revamping our tokenomics, we are splitting up the process in different parts, starting with the ability to lock vePERP. Our team has finished an internal audit and is preparing for deploying to production in the coming weeks.
🤝 Marketing & Partnerships
1. Google Cloud x Web3.0 Forum 
Our COO Hana will give a talk at the Google Cloud x Web3.0 Forum on the “Tokenomics behind Curve Wars” at 06:15 AM UTC. You find more info and register for the event here.
2. ETH Barcelona
Any BUIDLers coming to ETH Barcelona? Our smart contract dev Shao will draw on his experience and deliver a talk about writing clean code. Come listen to his talk and say hi if you’re around!
Ecosystem Updates
1. Product Stats Update
Perpetual Protocol (✨🔴_🔴✨)
⚡Did you know if you market make on Perp, you get 90% of the trading fees?

Since the launch of V2, we've generated over $10m in fees with $9m going to market makers.
2. Monthly Grants Update
During May, the Grants Committee received ten new proposals and funded two new grants. The two funded grants are Fuerte, a community-driven DeFi strategies market developing a basis trading vault using perp v2 and perpetual protocol LP/Trading Tool, a calculator for LPs which will allow them to visualize changes in the impermanent loss, margin ratio, as well as other parameters. Read the full report on our blog.
3. Airdrop Season
Airdrop season is here in Optimism-land. If you have used Perp v2 or other Optimism dApps you might be eligible not only for the $OP airdrop, but also for the newly launched $VELO token from Velodrome or $HOP from Hop Protocol, one of our supported bridges.
4. OP Airdrop Allocation
Not only users, also the protocols on Optimism are receiving an $OP airdrop. We are one out of two that are receiving 9M $OP in Phase 1. Learn more on how we plan to distribute our $OP stimpack allocation in this tweet thread or check the governance post for the full proposal.
5. Community Call #28
As usual, we will host a Community Call the following Wednesday, June 15, to bring you up to speed on the latest and future updates. Join the English Community Call at 1pm UTC live on Youtube. Our Perp-maker workshop will happen right after that at 2pm UTC.
Did you enjoy this issue?
Perpetual Protocol Team

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

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