PERP Token Overview
PERP is the native utility token of the Perpetual Protocol platform. It is built on theEthereumblockchain and complies with the ERC-20 token standard.Perpetual Protocol is an innovative decentralized derivatives exchange (DEX) focused on providing perpetual contract trading services, with its core mechanism being a unique virtual automated market maker (vAMM) model.The PERP token plays multiple key roles within the protocol’s ecosystem, including participating in governance, staking to earn rewards, and supporting the protocol’s insurance fund.
Total Supply and Circulating Supply
The maximum supply (Max Supply) and total supply (Total Supply) of PERP tokens are both set at 150,000,000 PERP.
As of July 31, 2026, the circulating supply of PERP was approximately 72,609,864 PERP. This means that the tokens currently in circulation account for approximately 48.4% of the total supply.It is important to note that the circulating supply of a cryptocurrency changes dynamically over time and in accordance with the token unlock schedule.
Token Allocation and Unlocking Mechanism
The PERP token allocation plan is designed to balance ecosystem development, team incentives, and investor interests, with the specific breakdown as follows:
- Ecosystem and Rewards: 54.8%
- Team and Advisors: 21%
- Strategic Investors: 15%
- Balancer LBP (Liquidity Steering Pool): 5%
- Seed Investors: 4.2%
To ensure the long-term health of the token economy, the PERP token has a four-year unlock schedule. Under this schedule, stakers receive a fixed number of PERP rewards each week (e.g., 150,000 PERP per week). These rewards are typically divided into immediate rewards and vested rewards to incentivize users to participate in the protocol’s staking and governance over the long term.
Project Background and Market Performance
Perpetual Protocol was co-founded by Yenwen Feng and Shao-Kang Lee.In August 2020, the project successfully completed a $1.8 million strategic funding round led by the renowned investment firm Multicoin Capital, with participation from Zee Prime Capital, Three Arrows Capital, CMS Holdings, LLC, and Alameda Research.
In terms of market performance, PERP reached its all-time high on August 30, 2021, at approximately $24.84. Its all-time low occurred on February 28, 2026, at approximately $0.01664866.As of July 2026, PERP’s market capitalization fluctuated between $1.40 million and $1.55 million, with a fully diluted valuation (FDV) of approximately $2.91 million to $3.20 million.
How to Obtain PERP Tokens
As an ERC-20 token, PERP can be traded on decentralized exchanges (DEXs) or centralized exchanges that support the Ethereum network.Users can connect to a DEX via an ERC-20-compatible Web3 wallet (such as MetaMask) to trade, or purchase PERP on a centralized exchange that supports PERP trading. Before making any transactions, be sure to verify the platform’s listing status and trading pair information yourself.
