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BalancerBalancerby0xcc6A949DB9b26a7173648d50Cf7C55e800E6585B0xcc6A…585B

Proposal: Increase PERP from cap2 -> cap3

Voting ended over 5 years agoSucceeded

This proposal is also on Balancer's forum.

Intro Same as previous post. Currently PERP is at $3m cap, there is $14m liquidity currently and is relatively stable over last couple of days so don’t expect any more updates after this.

Below is the same copy/paste from previous post. The only thing I would add is that given the whole Bitmex issue they have lost about 10k BTC in open interest which will be very interesting where that volume goes. If Perp can capture it (being the only usd settled perpetual future in dex which is the same mechanism as btc perp in Bitmex) then we want to capture this liquidity first!

What is PERP Perpetual is a new project that could bring a lot of trading volume to balancer. They provide perpetual futures contracts that are based in USD. This is different to protocols such as dydx where the base token may be in ETH or a native token traded - this is a massive differentiation point given a lot of the large trading volume exchanges such as Bitmex, binance and deribit denominate in USD.

The PERP token is planned to have distributions back to token holders through a percentage of trading fees which provides a mechanism to encourage trading volume

Off-Chain Vote

Increase PERP cap to $10M
6.05K 71.8%
Keep PERP cap at $3M
2.38K 28.2%
Reduce PERP cap to $1M
0 0%
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Timeline

Oct 02, 2020Proposal created
Oct 03, 2020Proposal vote started
Oct 04, 2020Proposal vote ended
Jan 23, 2024Proposal updated