Perpetual Protocol is a layer-2 solution which provides additional features over the Ethereum blockchain. In its second incarnation, Perpetual Protocol 2 will be released to provide solutions for scalability and usability of both ETH and ERC20 tokens on the network.
The “Perpetual Protocol v2 launches on Ethereum layer-2 solution Optimism” is a new cryptocurrency that launched on the Ethereum blockchain. It uses a layer-2 solution to solve scaling issues.
In its latest endeavor to create the best-decentralized derivatives trading experience in crypto, Perpetual Protocol, a decentralized perpetual futures exchange, has transitioned to Ethereum’s Layer 2 Optimistic roll-up scaling solution Optimism.
The addition of Perpetual Protocol v2 (named Curie) to the Optimism Mainnet lowers the cost of placing a trade and speeds up transaction execution, all while relying on the Ethereum network’s battle-tested security and decentralization.
Over the course of the 7-day competition, about 3,000 traders produced 480 million in trading volume during the testnet launch. Trade slippage was reduced by 900 percent compared to Perpetual Protocol v1, and consumers saw a 4,600 percent reduction in the cost of starting a position on Perpetual Protocol v2 against Ethereum Mainnet.
“On the xDai Chain, the Perpetual Protocol has produced over 33 billion trade volume. However, we saw that our old scaling approach would not be able to give the high speed and cheap prices that consumers expect,” stated Perpetual Protocol Co-Founder Yenwen Feng.
“After careful consideration of all available possibilities, we chose Optimism as our launch partner because the network shares our dedication to a user-driven, builder-first approach to DeFi apps,” Feng said.
Why did you choose Optimism as your launch platform?
Perpetual Protocol v2 combines with and improves upon Uniswap v3, enabling liquidity providers (LPs) to tap into the high trading volume created by perpetual futures on Decentralized Exchanges while also improving capital efficiency (DEX).
LPs are important in version 2 because they provide a means for market makers to earn a return on money other than trading. The focus on interoperability and collaborations in v2 opens the way for strategic integrations that will deliver goods for consumers while using the protocol’s vast liquidity.
DeFi protocols like Visor Finance, Popsicle Finance, and Teahouse Finance will offer their managed LP service for v2 shortly after the new mainnet goes live, making it simpler than ever to make a return on money by providing liquidity.
Perpetual Protocol is dedicated to providing the best possible protocol for users and developers, and the team is working on advanced order types, such as limit orders, multi-collateral support, and permissionless market generation methods in the coming months.
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The “perpetual protocol ico” is a new blockchain project that was created by the developers of the Ethereum layer-2 solution. The project aims to offer a more efficient and effective way for businesses to operate on decentralized networks.
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