Introduction to Decentralized Perpetuals π
Decentralized Perpetuals π is an improvement over the previous version v1. Decentralized Perpetuals π is built on top of perennial v1 and, it comes with several features. Version π uses low latency on-demand oracles, more capital efficient and provides up to 100x leverage. The low latency oracles are built by Pyth network.
Comparison with V1
| V1 | π |
|---|---|
| Unidirectional markets, so 2 pools per market (eg. Long-ETH & Short-ETH) | Bidirectional markets, so 1 pool per market (ETH) |
| Takers are matched directly with LPs. LPs take opposite side of all taker trades in that market | Takers are first matched with other takers (longs matched with shorts), then with LPs to fill the gap. |
| Chainlink Core oracles | low-latency oracles(Pyth and Chainlink are supported at the moment) |
| Funding rate is determined by utilization curve | Funding rate is determined by PID mechanism. |
| Fees are charged as a percentage of the volume | Fees are variable and are propotional to market impact of the trade. |
| Supported only Market orders. | Supports different order types such as stop loss, market, limit, take profit, etc. |