Perennial is live on Arbitrum
The time has come — Perennial is now live on Arbitrum!
Try it out here: perennial.finance
And tune in on Wednesday at 10:30am PST, Perennial Labs is hosting a twitter spaces to discuss the launch, along with Peter from Arbitrum, Derek from Variant, Ash from Archetype, and Knower (@knowerofmarkets).
Set a reminder here: https://twitter.com/i/spaces/1ypKddXMNvrKW
What’s new?
Launching on Abritrum changes the game for Perennial users.
Way cheaper gas fees — Protocol accessibility (especially to smaller $ amount users) is expanded significantly.
Perennial delta-hedged LP Vaults — Perennial LP vaults abstract away the complexity of providing liquidity and rebalancing across multiple markets. This vault supplies liquidity to both the long & short side of the pool, partially hedging delta exposure. More on this here.
Higher leverage (for Traders & LPs) — Launching on a fast L2 allows Perennial to push the limits of DeFi capital efficiency. The protocol will conservatively start with up to 20x leverage, with plenty of room to grow. And keep in mind that this leverage is for both Traders & LPs.
Fast settlement & execution — Fast oracle updates & settlement opens the door to more frequent trading & rebalancing of liquidity (and with low fees that won’t eat into PnL).
Why use Perennial?
Lowest-fee derivatives trading on Arbitrum — Sick of paying absurd funding fees (as high as 50% APR) & trading fees that are 3–5x that of centralized exchanges? Perennial is fundamentally designed to reduce costs for traders (see more here). To start, Perennial will have 0% trading fees and funding rates that target market rates (on CEXs).
Built for composability (and building efficient vaults) — Perennial was fundamentally designed to be a primitive for developers to use in building the next generation of vaults & structured products. Perennial is the only derivatives protocol that puts the interests of developers at the forefront: no/low trading fees (cheap rebalancing), fully on-chain & dependable infrastructure, and a permissionless & modular market structure.
Long-tail Derivatives & DeFi-native markets (soon) — Because Perennial is fully synthetic, cash-settled, and has programmable payoff functions, Perennial can support markets for any available price feed. Have a good idea for a market you’d like to see/trade? Bring it to Perennial, and let’s make it happen!
Why Arbitrum?
At its core, Perennial’s traders and LPs made the decision. This was by far the single most requested feature from Perennial users (and potential users). When “Wen Arbitrum” began overwhelming community discussion, the decision of where Perennial ought to launch next became easy.
Additionally, at Perennial Labs, we’ve been blown away by the liveliness of the Arbitrum ecosystem. Composability is at Perennial’s core, and there are few (if any) other ecosystems as collaborative & interwoven as Arbitrum. And we think this is just the beginning.
Perennial Labs (and the Perennial community) is excited to support the burgeoning activity in the Arbitrum ecosystem by collaborating with teams building vaults/structured products, helping launch novel markets that grow the ecosystem, and by participating as community members & governance leaders across Arbitrum DeFi protocols.
Team up with Perennial Labs!
If you’re a trader or LP, check out perennial.finance and let us know what you think.
If you’re a developer interested in building on/around Perennial, please get in touch — we have a long list of vaults & structured products we’d love to see built (and/or help co-build) upon Perennial. If you’re looking for an on-chain perp product to hedge or leverage exposure with low fees, Perennial is the infrastructure to use.
If you’re exploring new roles, Perennial Labs is actively hiring! There are a couple opportunities posted on our job board, but we’re hiring across the board, so please get in touch if you’d like to learn more! (message us on twitter or discord, or email us at community@perennial.finance)
