Perp88 Governance Token
We believe that there is a misconception in the cryptocurrency space that a blockchain project requires a Governance token to succeed. While we have seen many prominent projects garner over hundreds of millions of dollars in valuation, having a native token for your decentralized app does not necessarily guarantee project's success nor does not having a native token will doom a project to failure.
Since the inception of DeFi, we have seen multiple projects try to build their core products around their token, creating unnecessary steps, and requiring it to be used to participate in the protocol. In our view, this might not be the right approach. Instead, we believe that building a solid core product and finding the product-market fit should be the first priority. Projects should initially focus on how to sustainably grow its adoption, such as the product’s ability to fulfill the users’ unmet needs, a frictionless onboarding process, an easy-to-use application interface, and a well designed user journey.
Incorporation of a native token into the platform should be viewed as an additional enhancement layer (whether as a revenue sharing mechanism, a gateway to participation in project governance, or a protocol safety mechanism) to further maximize project’s potential and should be pursued as the next step after a product has found its market fit.
Hence, the team at Perp88 has decided that we will be doing our initial launch without Governance token, and only add it in the future at an appropriate time.
Perp88 puts our users first!