Bi-weekly Update #17 (2021/10/18~11/1)

Highlights from the last development sprint

📑 Smart Contracts

  • Planning the Smart Contracts Deployment Process for Arbitrum
    We’ve finalized the process to deploy smart contracts to Arbitrum, which not only reduces potential human errors, but also acts as the last line of defense for potential bugs thanks to the auto-testing scripts.

  • Developing Liquidity Mining Contract
    The liquidity mining contract, which will be used to reward makers for our mainnet, is finished. 

🛢 Backend

  • Verify the Results from the Internal Testnet Trading Competition
    We’ve held a trading competition internally and our backend team has verified everything works properly (i.e. no one lost or gained money unexpectedly). 

  • Funding Payments Calculation
    Perp v2 will use continuous funding payments on each block level as opposed to hourly ones used by Perp v1. Our server will calculate these numbers and pass the results to the frontend so users can have real-time info on this metric. 

🤝 Partnership/Marketing

  • DeFi Happy Hour in London
    Our partners at held a physical event on Uptober 8 at 6-8 pm around central London. There were around a hundred people registered for the event. 

  • Perpetual Protocol Shop
    Missed out on our limited-edition "Fill'em All" hoodie? We launched our merch store so you can buy it whenever you want! There are also T-shirts, mugs, backpacks, bags, and beanies available for sale on the store.

  • WOO Network Partnership
    We partnered with WOO Network to have $PERP listed on their platform. To celebrat, we both provided $10,000 of tokens for traders who traded the PERP/USDT market on WOO X.

  • New Grantee - UniDex
    UniDex, a one-stop DEX aggregator for everything crypto, has joined our lineup of grantees to integrate Perp v1 and v2 to their platform! See the announcement here.

  • Guest Post on DeFi Slate
    Our new teammate Makena wrote a guest post for Perpetual Protocol on DeFi Slate, where he discusses the fundamental problem v1 has, how v2 improves capital efficiency, and much more! You can read the article here.

  • Perpetual Protocol NFT Collection
    We worked with CC, the creator of the renowned videos for FTX and Sushiswap, to make a series of NFTs to thank our community for its support! Check this tweet to see if you’re one of the lucky winners.

  • Strategic Investment into Impossible Finance
    We invested into Impossible Finance, a decentralized crypto project launchpad, to build out a pipeline for our future grantees! 

To-dos in this development sprint

📑 Smart Contracts

  • Auditing V2 (🏁 finish line in sight!)
    ABDK’s audit is about to end; whereas HashCloak is still in the middle of auditing the code. And our internal audit is about to start  where each engineer will check the code written by other engineers.

  • Writing 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. 

💻 Web

  • Leaderboard for Testnet Trading Competition (🚧 still a work in progress!)
    In this sprint, we’ll modify the leaderboard used for previous trading competitions to support v2. 

  • Maker UI (🚧 still a work in progress!)
    Function-wise it’s ready. Makers can provide liquidity like LPs do on Uniswap, with the Pool tab showing the current progress. In this sprint, we’ll improve on the aesthetics of the UI.

  • Liquidity Mining UI (🚧 still a work in progress!)
    We’ll launch a liquidity mining campaign with 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.

  • Adding Funding Payment History on UI
    Since the backend team can now calculate the continuous funding correctly, the frontend team can now add a funding payment history tab to the UI.

  • Translating Errors from Smart Contracts into Human Readable Format
    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

  • V2 Docs
    Documentation for v2 will be a key focus going forward and we look forward to your comments and suggestions!

  • Yenwen at LedgerFest Conference
    Yenwen will chat about our protocol, the development of DeFi, and much more on 10/23 at 11:00~11:45 am ET at LedgerFest Conference. You can register here.

Ecosystem Updates


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

The developers are still optimizing the new UI which not only looks gorgeous, but can also display your position from (your wallet) and (smart contract wallet)

🔍 PerpTerminal

An analytics hub for Perpetual Protocol traders.

Vipin, thedeveloper of PerpTerminal made a tweet thread explaining how to use PerpTerminal like a pro. If you’re a trader on our protocol, you should definitely give it a try.

🧠 Bankless DAO

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

The second article from Bankless DAO is out! It’s a step-by-step guide for how to open a 2x leveraged long position on Perpetual Protocol. You can read it here.