What is perp.city?
perp.city is an experimental platform for creating and trading perpetual futures contracts that track any observable data. perp.city is designed to explore new ways of valuing, sharing, and monetizing otherwise proprietary information.
How are markets settled?
Each market tracks an index price which can only be updated with cryptographic evidence. Updates are secured by a mix of cryptographic and economic guarantees. Once a market is deployed, its rules cannot change.
What are the risks?
This is experimental territory and there are certainly risks that we aren't yet aware of. Here are some we've encountered in our unreleased v0 smart contracts. Beacons are susceptible to front-running. Uneven interest in low liquidity can lead to poorly distributed payouts. Data providers are at risk if on-chain agreements fall through. Creators can set unstable collateral types and excessive leverage limits, even if the market cannot support it. Lastly, our solidity code is currently unaudited and upgradeable via proxy, which makes this version subject to malicious updates. During testnet, we will seek to uncover more risks.
Why can't I trade Bitcoin?
perp.city isn't designed to compete with established exchanges for liquidity. Instead, it focuses on enabling new types of markets that weren't possible before, particularly long-tail markets that have been historically inaccessible.
Who can participate?
Anyone.
Made with love and fury by Strobe.