Quick Take

  • Perpetual Protocol is a DeFi project focused on perpetual swaps. In August, the project raised $1.8 million from Multicoin Capital, Three Arrows Capital, CMS Holding, and Alameda Research
  • Perpetual Protocol uses a “virtual AMM” for pricing trades, which allows for the protocol to quickly bootstrap liquidity for new markets
  • Perpetual swaps are the most popular method for trading crypto (particularly among retail traders) but have not yet taken off in DeFi

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