Perpetual Protocol, a pioneering decentralized finance (DeFi) platform, empowers users to trade derivative contracts without traditional intermediaries. Designed by Taiwanese innovators Yenwen Feng and Shao-Kang, it employs a virtual automated market maker (vAMM) and a collateralization vault, facilitating trades of perpetual contracts, which distinctively lack an expiry date. The ecosystem's native token, $PERP, serves pivotal roles: staking (securing the platform and earning rewards), governance (directing the platform's trajectory), and insurance (enhancing risk management). However, transaction fees on the platform are processed in USDC, not $PERP.