Launched in 2018 as “Strike” and later relaunched with a new name and the mainnet in December 2020, Perpetual Protocol is a decentralized exchange (DEX) designed for leverage trading, short positions, and low levels of slippage. It uses a virtual automated market maker (vAMM) and collateralization vault to settle trades and enable trading in perpetual contracts, which are futures without expiry.
DeFi Tokens PERP, DYDX Lead Crypto Market Higher, Bitcoin Nears $44K — CoinDesk
