Monthly Recap: November 2022
Hello Dragons! 🐉
Welcome to the first monthly recap of Perp88! As Perp88 continues to grow, we will be sharing with you these recaps to help everyone in the community, old or new, keep themselves up to date on the major developments that had happened over the past month!
With that said, let’s not waste any more time and jump right into the key developments of Novmeber 2022!
Celebrating the first two weeks of launch! 🎉
Let’s first start off by celebrating our small but very meaningful milestones that were able to accomplish in November!
In the past two weeks since our official launch, we were able to garner over:
- $450,000 in TVL
- $2,300,000 in total trading volume
- 650 unique users
We’d like to extend our gratitude towards everyone for their support! As Perp88 continues to BUIDL during the bear, we hope to continue the journey to becoming the premier destination for derivative products and grow together with you all!
For the community members who have recently just joined us, we wrote an article detailing our long term vision for the project as well as the project roadmap for the next four quarters. If you haven’t got a chance to it out, we’d highly encourage to you to do so! You can find the article here.
Perp88 in Major Press Releases 📰
We kickstarted our launch with two press-releases from two major news sources specialized in financial technology and blockchain projects on Polygon. The objective of these press release was to spread awareness of the launch of Perp88 and also provide information on the key features of Perp88 as well as our unique competitive advantages potential users.
Our first press release came with The Fintech Times, who is the world’s first and only publication dedicated to fintech. The Fintech Times explores the explosive world of financial technology, blending first hand insight, opinion and expertise with observational journalism to provide a balanced and comprehensive perspective of this rapidly evolving industry. You can find in the Tweet below The Fintech Times’s coverage on Perp88’s launch.
Our second press release came with Polygon Daily & CoinWire, who are a top news source focusing on developments on the Polygon chain, and have a track record of providing multiple comprehensive updates for various top projects on Polygon. You can find the article that they have written about Perp88 in the Tweet below.
Giveaway Campaigns 🧧
As you might already know, Perp88 holds at least one giveaway campaigns every week. In November, Perp88 held a total of two giveaway campaigns, and we have distributed the total rewards of $1,000 in USDC to 10 lucky participants who successfully followws the requirements of the campaigns.
If you did not win any rewards from our previous campaign, do not give up ! We currently have a giveaway campaign live that will end on December 6th. If you haven’t participated, please do not forget to do so for a chance to win a total prize pool of $250! More details on the ongoing giveway campaign can be found here.
Also, if you love giveaways, then be sure to join our Discord server, as we will be consistently holding side-quests, which you can participate to earn prizes in USDC! Once you are in, please head over to the #🎁│giveaway channel to grabe your “Giveaway Hunter” role. The role will give you access to the #🎉│giveaway-campaign channel, where all the side-quests will be posted.
UI Improvement 🖥️
After our launch, many of our users reached out to provide feedback on our UI/UX. These improvement suggestions have been implemented, and you can find a summary of them below:
1.) We adjusted the default leverage for our leveraged trading feature to 5.0x: While we believe we have users who love high leverage in our community, we made this adjustment to protect other users from unintentionally opening a position with too much leverage.
2.) We added a leverage box to allow users to input the leverage manually: Using the slider to indicate the leverage level may be challenging, as we offer up to 88x leverage. The adjustment allows users to be precise when indicating the leverage level (up to 2 decimal points).
3.) We added the “MAX” button for the collateral input box: If the user wishes to deposit all his/her funds as collateral, this adjustment reduces the friction in the process, as the user will no longer need to manually type the maximum amount of funds into the input box.
4.) We added a drop down list of assets supported by our leveraged trading feature on top of the price chart: The addition of the drop down list provides another location on the interface for users to easily switch assets that they wish to leveraged trade.
5.) We made a minor fix on the price chart: The price chart is now more frequently updated than it was at launch. This allows users to see the most updated market price of the assets that they wish to leveraged trade.
6.) We made adjustment to the UI of the referral code input box: Referral code is now automatically added to the referral input box without users having to connect their wallet when clicking on the referral link. This adjustment significantly increases the likelihood that the referrer’s code will be submitted by the code user.
Announcement of the Launch of Dragon Dynasty NFT 🖼️
Perp88 has recently announced the launch of their NFT collection, the Dragon Dynasty, which is a free-mint NFT collection aimed at rewarding the early users who become a part of the Perp88 platform prior to our token launch. The collection will feature a total of 888 unique NFTs made up of well-over 5 key traits with over a total of 100 features!
Each Dragon Dynasty NFT will also possess multiple special undisclosed utilities relevant to Perp88! In the next couple of weeks, we will be holding multiple traits competition for different features. Our community members will be able to propose ideas on traits for each feature to help us design the overall collection. In exchange, winners of these traits competitions will earn spot on the whitelist!
More details on the whitelist criteria and the utilities will be shared once the art has been finalized.
