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Perpetual Protocol Newsletter - Issue #26

Perpetual Protocol Newsletter
Perpetual Protocol Newsletter - Issue #26
By Perpetual Protocol Team • Issue #26 • View online
Hi everyone, our latest newsletter issue is out!
Find out what we have been working on over the last two weeks and what we will be working on in the next two below - including a highly anticipated UI feature and the reissue of our Onboarding Program, version 2.

Highlights from the last development sprint
🛠️ Engineering
1. New Markets
Our special market listing in the last sprint was our own token $PERP! You can now trade and provide liquidity for 15 markets in total. Try it out here.
2. Multi-collateral
The multi-collateral feature is currently being audited by Hashcloak. True to the motto four eyes see more than two, we have scheduled another audit with Dedaub. As the next step, we will run further internal testing to make sure the feature is battle-tested for release. By implementing multi-collateral users can add other tokens than USDC as collateral on the platform
💻 Web
1. Display Funding Rate
We have launched the highly anticipated feature of viewing historic funding rate data on the native UI. You can now view 1h, 8h and annualized funding rate data right next to the price chart. Have a look here.
2. Onboarding Rewards v2
Our Onboarding Rewards Program V2 is starting soon! We will introduce a whitelist with limited spots to join the onboarding call. Participants who continuously trade for the following four weeks will get the onboarding reward. We have a blog post coming out with all the details you need to know to participate.
🤝 Marketing & Partnerships
1. Market Listing
To celebrate the new $PERP/USD trading pair, we hosted a trading competition. The one-week competition had a prize pool of $5k in $PERP and 3 exclusive Perpetual Lab NFTs for 10 winners. The top 3 PnL traders could win $PERP depending on their rank and one of the exclusive Perp Lab NFTs. Winners 4 to 10 were chosen randomly from all Perp market traders that reached a trading volume of at least $5,000. All those traders that reached the threshold can also claim an OAT here.
2. Podcasts, Twitter Spaces and more 
If you enjoy listening to Podcasts and Twitter Spaces, this one’s for you. Our co-founder Yenwen Feng joined the Fintech Blueprint Podcast to chat about perpetual futures and frontier technology in DeFi, a Twitter Space together with TrueFi on Protocol-to-Protocol lending, the Binance AMA “Crypto Life” on his entrepreneurial experience in the blockchain space (in Mandarin) and the gHearbox Hour Session together with Perpetual Protocol co-founder Shao-Kang Lee and Gearbox Protocol. 
3. Karma for Perp Power Users
Brahma has increased the Karma scores (their Degen score) for Perpetual Protocol makers. With a higher Karma score, users can access the Protected Moonshot DegenVault, which uses weekly harvested stablecoin yield to take on leveraged positions on Perp v2, and upcoming products earlier.
To-dos in this development sprint
🛠️Engineering
1. More Markets
We have two new trading pairs scheduled for this sprint. Follow the official channels to be the first to know. 
💻 Web 
1.  Simplified Maker UI
The Simplified Maker UI is almost ready and will be out soon. It will make it easier to provide liquidity for non-professionals. Additionally, we will publish the dedicated article on how to fully leverage Perp v2 with different strategies this sprint (as promised last time).
🤝 Marketing & Partnerships
1. Market Listings
We will continue to list new markets as mentioned above. It pays to stay tuned on the official announcements to not miss out on any fun campaigns and giveaways - like the $PERP trading competition from last sprint. 
2. Workshop with DeCommas
After the launch of DeCommas’ Automated Basis Trading Strategy on testnet, we are hosting a workshop with the DeCommas team where they will showcase their basis trading demo (details tba). If you’re new to DeCommas basis trading, the automated vault built on top of Perpetual Protocol and Optimism by DeCommas allows users to earn yield extracted from positive funding rates.
3. DevConnect Amsterdam
As the next newsletter issue will already be sent out from DevConnect Amsterdam, a quick reminder: part of our team will be in Amsterdam for DevConnect. We will be present at ETH Day and DeFi Day and are co-hosting a party that promises to be awesome. Details to be announced soon. Come find us and say hi!
4. London Meetup
Currently in London? We are hosting a meetup on Thursday, April 7th. Please contact us if you are interested in joining and we will secure a spot for you on the invite list.
Team & Ecosystem Updates
1. Spotlight: Learn Section on Medium
In this issue, we want to highlight the Learn Section on our blog. The Learn section includes longer form articles that go into detail on different topics related to DeFi, trading and more. For example, do you know which role LPs play on Uniswap v1/v2 and how it compares to their role on Uniswap v3? Keen to learn strategies on how to mitigate impermanent loss as a maker?
Any topics you would like to have covered? Don’t hesitate to let us know!
2. Governance Proposal: Market Making Entity
The governance proposal on the creation of a market making entity has been accepted. The proposal suggested separating the foundation team (engineers & market makers) and creating a new entity focused on market making. 20M $PERP will be unlocked (not sold!) and utilized by the entity. Find all details of the proposal on the governance forum and the snapshot vote here.
3. Governance Proposal: Tokenomics
With the launch of V2, the team has been thinking about a $PERP tokenomics update to support the price and implement an improved incentive structure. On a high level, the proposal suggests a vote-escrow model, or vePERP, and to update the growth programs to work in tandem with it. Additionally, it proposes to implement governance controls for fee distribution and a new governance process in line with industry standards. Read the full proposal here.
4. Community Call #23
Any questions on the latest or future updates? Want to live chat with team members? Join our next Community Call #23 on Wednesday, April 6th at 1 PM UTC live on Youtube.
Did you enjoy this issue?
Perpetual Protocol Team

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