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Perpetual Protocol consists of two parts: one is a Uniswap-inspired virtual AMM backed by a fully collateralized repository; the other is a built-in collateral pool backing that powers each virtual market. PERP is Perpetual Protocol's ERC-20 native protocol token. PERP holders can back the protocol by staking PERP. In return, stakers will receive a portion of transaction fees and staking rewards. Once the ecosystem matures with broader token issuance, Perpetual Protocol will gradually transition to community governance, allowing the community to determine the future development of the protocol.

On May 29, 2026, the Commodity Futures Trading Commission (CFTC) issued a landmark order approving the listing of bitcoin perpetual futures on Kalshi, a registered U.S. exchange.

Solana switched on its Alpenglow upgrade on October 21, 2026, replacing the way its validators agree that a transaction is final. Validators are the computers that run the network, and finality is the point where a transaction can no longer be reversed.

Switzerland's Financial Market Supervisory Authority (FINMA) approved the country's first retail exchange-traded fund that invests directly in bitcoin on October 20, 2026.

Chat-based perpetual trading is a system where users trade perpetual contracts inside chat interfaces rather than separate trading platforms.

A Perp DEX is a decentralized exchange that allows users to trade perpetual futures without an expiration date. Unlike centralized platforms, trades are executed through smart contracts, and users keep custody of their funds.

PERP, or Perpetual Protocol, is a decentralized exchange (DEX) that allows users to trade perpetual contracts.