Community Call recap

Welcome to the June’23 Community Call Recap!

Listen to the recording below:

First, a quick reminder of what Perpy is:

Perpy is a decentralised and non-custodial Social Trading protocol where you can invest in the best traders and be exposed to a trading revenue stream without being a trader. Traders can monetise their trading skills by trading like they would do on GMX, for example, with their own funds and investors’ funds and taking a performance fee on any profits they would make with the vault funds.

Let’s now get on the alfas-packed recap! 👇

What the heck is Spectra Update?

Spectra update is one of two major updates coming, which will include:

• A new User Interface and User Experience

  • Brand new dApp revamped with a clean and modern design

  • Enhanced vaults browsing (more to be revealed in the coming weeks)

  • New trading engine, which was shown this week. It will be integrated into a single Vault front end to be able to trade and have access to all the Vault stats from only one tab!

  • A lot of amazing in-app features (premises of the social layer)

    • Sneak peeks will be disclosed weekly until Spectra update is live

    • Alfa → An in-app chat between the vault manager (aka the Trader) and investors of the vault will be available at Spectra launch

• The “Three multi” → Multi-assets, Multi-perps, Multi-chains, all in one single vault

  • Spectra will include trading on GMX (Arbitrum) and Level (BNB)

  • Trade multi-assets in one vault

  • Multiple TP/SL, PnL simulation before setting the TP/SL

  • Swap module in the vaults to swap back to USDC, for example

• Implementation of the new fee structure

• Wen?

  • Live first half of July

  • Closed beta running all summer to stress test everything before opening to everyone

  • Some features of the next update will be rolled out only to the close beta tester during this summer (maybe or maybe not MUX protocol, cough cough)

  • That’s also the right occasion to get early feedback and to iterate fast during this beta, to have a neat UI/UX. As you saw, we are listening carefully to the community suggestions because for adoption, you need a product users want to use, and not a product the team just find great

• How to access the closed beta?

  • Access for all Pepey NFT holder, >100K xPRY holders and whitelisted traders

  • Incentivized closed beta based on a “Trade to Earn” approach (TBC)

Future update (name [redacted])

The next update will include at least these features:

• MUX and Lyra integrations (MUX could be live during closed beta after Spectra Update)

• Limit orders

• More statistics for traders and investors (exit price, position size, …)

• Private vaults

  • Traders could use Perpy in private mode as an ultimate tool for trading on multiple Perp DEXes, hedging, monitoring their positions, checking their trading stats, access to deepest liquidity all in one vault… And they could decide to go public, allowing investors to deposit funds when they feel it

• MetaVaults

  • The first Metavault iteration would be a vault where deposited funds are then invested in the best-performing vaults on Perpy. Like an index of the best vaults. We still need to check the technical feasibility, and this is subject to change, but definitely something worth exploring. It will be only accessible to xPRY holders

  • Once again, this is a perfect example of a suggestion discussed amongst the community that we are willing to implement

• And much, much more…

Marketing

• Intensive reach-out to known big-name traders to open vaults on Perpy (Doing product demo). We already have some traders lined up waiting for a better trading experience, tools and assets. Just a question of time…

• Different referral programs are being considered

  • Incentivize traders to come on Perpy (Trade to earn, weekly prize pool, …)

  • Incentivize the community to onboard traders

  • Duel/Challenge between traders

  • Scholarship for beginner-level traders

• Dune and other dashboard contests - TVL, Vaults perf, Average PnL, Nb Users, Protocol revenue, xPRY yield etc…

Long term vision

• Building the ultimate platform for Traders and be the Social Trading Hub to attract Web2/CEX copy trading users

  • Able to trade a wide range of crypto pairs, forex, commodities, options, (alfa) NFT in a single vault

  • Provide the best UX/UI and tools for Traders and Investors

• Continue our Multichain expansion where the volume is and will be

• Continue to add new Perp Dexes (in touch with a lot of them)

• All of what we are building is, at the end, circling back towards generating substantial protocol revenue which is distributed to xPRY holders. Just be a little bit patient for the protocol to take off!

Achievements since the last community call

A lot of work has been done behind the scene on the Development, BizDev & Marketing to put Perpy on the path to success:

• MUX partnership (more assets, more liquidity)

• RosyWhale partnership (Automated bot strategy)

• Pepey NFT collection launched

• The GigaVault education podcast

• BNB Kickstart program

• Builda collab:

• MafiaNuts collab:

• First trading competition closed

• TVL is sitting around $80K-$120K and trading volume around $45M for the last 3 months.

• Audit is launched with PeckShield (completion expected mid-July)

For an unaudited and beta protocol, and with only GMX available on Arbitrum, it’s a good signal that there is a product-market fit. We got invaluable feedback on the product since we are live, which helped us drive and plan the protocol updates!