Perpy Weekly Recap #45

Author

Perpy Finance
December 03, 2023

Welcome back to our weekly recap, where we bring you the key updates and developments from the Perpy ecosystem.

Let's explore the highlight!

Winners list: Closed Beta

We're excited to announce the members of our closed beta who have won the exclusive airdrop/reward in xPRY tokens and Pepey NFTs!

The list of users eligible for the airdrop/rewards is posted on the link below (3 tabs):

More details on our discord post

The trading competition has just started!

We are following up with a new competition in honor of the release of our public version. Any user can participate with just a simple wallet.

The competition has already started, so don't wait any longer!

🎯 Instructions 🎯

If you have already created a vault, you can continue to trade on it. If you don't have one, create a vault and choose the chain you want to trade on (Arbitrum or BSC).

Only trades that are closed during the competition period will be considered. This means that trades must be opened after November 27th at 1 p.m. UTC and closed before December 18th at 1 p.m. UTC.

The opened trades will NOT be considered when the competition end.

Each vault is required to have a Total Value Locked (TVL) of at least $150 before initiating the first trade after the competition kicks off.

However, you can trade with a portion of the $150 or more, the risk management is yours.

💰 Prizes 💰

The total prize pool will be 10,000 USDC and will be distributed across two different leaderboards as follows:

• 9,000 USDC for the total absolute PnL (sum of your individual trades PnL in USDC):

🥇 $5000$

🥈 $2000$

🥉 $1000$

4.  $700$

5.  $300$

• 1,000 USDC for the total percentage PNL (sum of your individual trades PnL in percentage)

🥇 $500

🥈 $200

🥉 $150

4.  $100

5.  $50$

🤔 Why two leaderboards? 🤔

We want to give small portfolio traders a chance to show their trading skills and grow their brand and TVL!

This is your moment to shine in the trading arena. Seize the opportunity, outperform the competition, and celebrate your triumphs! 🏆 

BuyBack &Burn

No less than four buyback & burn programs are included in our recent PRY 2.0 tokenomics shift!

Liquid staking withdrawal

A 0.5% $PRY exit fee is applied when withdrawing from this module, which will be burned.

Locked staking early withdrawal

Users who decide to withdraw before the 180days vesting period will forfeit a portion of their $PRY, which will be burned.

Management fees

Perpy takes a 50% cut on the optional management fees in vaults. 

These fees will be used to buyback and burn $PRY

Performance fees

Perpy takes a 20% cut on traders' performance fees. 

All fees collected by Perpy will be used to buyback $PRY, where 90% is distributed to stakers and 10% is burned.

Will we stop here? Who knows 

Partnership with 2 crypto communities

Replay: AMA with Arbitrum

The replay is available here:

Community Call on Discord

A community call is scheduled for December 6th at 5 p.m. UTC on our Discord, don't miss it!

Stay tuned for more updates coming your way in a week or two. Thank you for your support, and see you in our next recap!