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Welcome to Perp88
Perp88 is a Decentralized Perpetual & Spot Exchange operating on Polygon. Perp88 offers the following features to our users:
- 1.Leveraged Trade (Perp): Users can open up to 88x leveraged long or short positions on the platform with ZERO slippage. The platform supports assets in the PLP fund, which are currently BTC, ETH, and MATIC.
- 2.Swap: Users can swap assets on the platform through the PLP fund with 0% price impact. This is made possible by using a price oracle to determine the exchange rate for the swap feature rather than relying on the XYK model.
- 3.Provide Liquidity (Market Make): Users can become market makers for traders at Perp88 by depositing eligible assets into the PLP fund, which functions as the liquidity for leveraged and spot traders at Perp88. Depositors earn 100% of profit from countertrading and 85% of protocol revenue (position opening & closing fees, borrowing fees) in USDC. More details on the PLP fund can be found here.
- 4.Refer: Users can participate in our referral program, helping Perp88 onboard new users and earn rewards. The users being referred can get up to 12.5% discount on trading fees and 7.5% discount on deposit fees while the referrers can earn up to 40% of their referee's trading fee revenue and up to 12.5% of their referee's deposit fee revenue all paid in USDC. Learn more here.
Perp88 prides itself for being a decentralized perpetual exchange with the best economics for users, whether it’s liquidity providers, traders, swappers, or referrers. Our aim is to create a product that gives the most value back to our users. This means that we try to minimize the fees charged on using our product while also finding a way to distribute value back to our users whether in the form of revenue sharing, rebates, or discount.
While there are currently many spot & perpetual exchanges in the market, Perp88 brings multiple competitive advantages to the table whether in regards to the economics or the product. Below are some of the key highlights on the benefits of using Perp88.
- 💸 Best Economics for LP: Perp88 rewards the depositors of the PLP for by allocating over 85% of the platform revenue back to the depositors in the form of USDC rewards. In comparison, leading platforms allocate only 70% of the platform revenue back to its market makers.
- 🧑🤝🧑 Most Attractive Referral Program: Perp88 offers one of the most attractive referral programs for both the referrers and the referees. The highest tier of our referral program returns over 50% of trading fee revenue generated from referees back to the program participants while also posing minimum participation requirement. More details here.
- 📉 Low Fees: Perp88 offers some of the cheapest fees to our users. We currently charge only 0.09% of trading fees on leveraged positions. Combine the low fees with our referral program, and you’ll get to use one of the cheapest leveraged perp trading platform.
- 📈 High Leverage: Perp88 supports a maximum leverage of 88x. This allows users who have high conviction to capitalize on their market view and maximize their financial gains.
- 0️⃣ 0% spread: With the current architecture, Perp88 is able to offer a 0% spread when opening/closing a leveraged position. Leveraged traders on the Perp88 platform can enter/exit a position at the specific price with size.
- 0️⃣ 0% Price Impact: Perp88 offers 0% price impact swap for assets in the PLP fund.
- 💱 Advanced Order Types: Perp88 supports advanced order types such as limit order, take profit, and stop loss. This is to enhance the trading experience for our users and support them to maximize the efficiency and effectiveness of their trading strategy.
- 📊 Subaccount Support: Perp88 supports multiple subaccounts under the same wallet address. Using subaccount allows users to employ different trading strategies and provides an easy way for users to track their performance under the same wallet address, improving the overall user-experience.
- 👁 Robust price oracle: Perp88 relies on Chainlink for price feeds to protect leveraged traders on the platform from scam wicks or short-term rapid price movements in a volatile market condition. This greatly reduces the risks of liquidation for the position owners.
- 🛡️LP protection: Perp88 has multiple mechanisms in place to ensure our liquidity providers are safe from exploits. More details here.
- 🌊 High liquidation threshold: Perp88 has set the liquidation threshold for leveraged position at 99%, meaning the position owner would only be liquidated if the loss & fees accrued on the position reach 99% of the position’s collateral. Setting the liquidation threshold at 99% will greatly reduce the chance of position owner being liquidated, especially in a volatile market condition.
- 💻 Friendly UI/UX: Perp88 has put a lot of emphasis in delivering the best experience to our users. Whether you are a DeFi native or you are just a new comer to the space, we make sure that navigating through our UI/UX is as intuitive as it can get.
- 🌐 Decentralization: Perp88 is a decentralized perpetual exchange. This means that we DO NOT pose any KYC requirements or have the ability to cease, blacklist, or freeze your account like other centralized perpetual exchanges do. Anyone with an internet connection, regardless of where they are, can trade at Perp88.
- 💰 No limit on profit: Perp88 does not place any limit on traders' profits. You will receive all the potential upside from your trade and your position will not be closed or capped simply because you are "too correct" and how much profit you are making.
The team behind Perp88 are experienced traders and DeFi users. We recognize the major pain points faced by our fellow traders with the current available platforms in the market. We want to build a platform with great UX/UI, allowing anyone to trade with low-fees, and let participants earn from the platform.
We are a big supporter of the DeFi ethos. Race, nationality, location, or other any other factors should not pose any barriers to participating in financial opportunities in DeFi and at Perp88, we make sure of that.
Last modified 4mo ago