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Newsletter Issue #43 - On the Need for DEXes in Light of Recent Events

Perpetual Protocol Newsletter
Newsletter Issue #43 - On the Need for DEXes in Light of Recent Events
By Perpetual Protocol Team • Issue #43 • View online
Hi everyone,
It’s been a rough week in the crypto space, we’re sorry for everyone affected! The recent events have shown us the need for decentralized alternatives without trusted intermediaries. That’s why we believe in DeFi now more than ever and continue to work hard to provide a viable alternative to centralized exchanges to our users. More on that below.

🛠️ Product
1. The Need for DEXes
As a decentralized exchange, Perpetual Protocol is fully non-custodial and permissionless, catering to the reinforced need for decentralized alternatives and self-custody. Our smart contracts are open source and audited. Should you have any questions or comments please reach out to us on Discord, we’re happy to help!
2. Comment on the FTX/Alameda Insolvency
Perpetual Protocol does not use any services (lending, borrowing, etc.) from FTX or Alameda Research, so there’s no exposure. Alameda invested in Perpetual Protocol in Dec 2020 and quarterly throughout 2021. According to data from Dune, the lower bound of Alameda’s holdings is ~$10,000 worth of PERP but we don’t think they have a big stake at this time.
3. FRAX Collateral Deposits Paused
Due to the illiquid state of FRAX on Optimism, depositing FRAX as collateral has been temporarily paused to avoid extreme price volatility. Please reach out to us on Discord in case of any questions or comments.
4. Product Roadmap
Going forward our main focus will be on the highly anticipated fee sharing! In the meantime, you can try out Lazy River, the precursor of USDC fee sharing.
🤝 Marketing & Partnerships
1. DeFi Education
The FTX insolvency highlights the need for trustless and decentralized alternatives. However, we know that many are hurting right now. That’s why we want to focus on providing DeFi education and using DEXes like Perpetual Protocol, first up is a Learn article on self-custody. Please let us know what type of content you’d like to see or would find helpful.
2. Community Event: Perp Poker #4
In times like these it’s especially important to be with frens and get your mind off the market! Let’s get together for a group therapy session playing some poker on Saturday, November 19, 2:00 pm UTC. As usual, participation is free (no buy-in) and you can win awesome prizes. Please register here with your Discord ID. 
3. Crypto n’Carry
Perpetual Protocol (✨🔴_🔴✨)
🛒 @cryptoncarry has added Perpetual Protocol to their basis trading dashboard.

Check it out for some delta neutral trade ideas👇
Crypto n' Carry
4. Perp HQ in Atlantis World
Atlantis World 🔱🌏
Say hello to the 3rd @optimismFND Month partner:
@perpprotocol – an on-chain perpetual futures DEX with deep liquidity and builder-ready composability built on Optimism!

Watch the explainer video:

Come meet Perpe and use the dApp in-game. 🎉
Join us this Thursday, November 17th at 1pm UTC for the grand opening of our HQ in the Atlantis Metaverse.
🗺️ Team & Ecosystem Updates
1. Governance Process Revamp Passed
The vote to revamp the governance process has passed, which introduces 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). 
2. Grants Committee Update October 2022
In October, the Perpetual Protocol Grants Committee received five new proposals. RoboVault is building an LP vault on top of Perp v2 after we recently approved their strategy. Two grants are currently under consideration: One for DVol to build two projects on top of Perpetual Protocol - a hedging vault for treasury asset management and an option replication vault - and one for Liqui Space to build an LP vault for Perp v2. Read the full report here
Monthly Grants Committee Update: October 2022 | Perpetual Protocol
3. Community Call #39
Let’s chat about these crazy last days in crypto, comfort each other and and cope together as well as discuss the latest project updates on the next Community Call on Wednesday, November 16th at 1pm UTC. Everyone that joins us live on Youtube can claim an NFT for their attendance. 
📚Further Readings
Data Deep Dive: The State of Ethereum Following the Merge | Perpetual Protocol
Market Review Oct 2022: FTX Contagion Rattles Markets | Perpetual Protocol
Creating a Trading Plan | Perpetual Protocol
Did you enjoy this issue?
Perpetual Protocol Team

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