Perpetual Protocol offers Decentralised Margin Trading of Perpetual Contracts over BTC, ETH, LINK, YFI, REN, SNX and many others. Traders can trade with up to 20x leverage long or short with a lower slippage.
Perpetual Protocol would like to protect their users against eventual smart contract hacks, we discussed other policies we could work on but we would like to start with a smart contract coverage as it makes most sense. Perpetual Protocol needs protection over 2.5m$ worth of cover.
The premium price would vary between 2% and 2.5% per year and Perpetual Protocol offers an additional incentive for the Spartan Bucket Capital Miners of 1% of the 2.5m$ over 6 months (approx 2500 PERP).
The proposal would be to list Perpetual Protocol’s policy on Unslashed with a premium price of 2%-2.5%, add it to the Spartan Bucket, accept the 1% additional incentive for the Spartan Bucket then do a DAO-to-DAO transaction (similar to the one Unslashed did with Lido) to have the Perp DAO protect its users.
We are putting this proposal to a vote on scattershot, USF holders and Uniswap LPs will be able to vote over it