What is Perpy Finance?
Perpy is a fully on-chain (Arbitrum) protocol allowing access to copy trading on a decentralized perpetual exchange like GMX.
Our copy trading solution is directly linked to GMX via smart contracts. As a follower, Perpy allows you to copy the most successful GMX traders ; as a trader, Perpy allows you to monetize your trading skills through your followers’ performance fees. As a Web3 product Perpy offers you full transparency on the traders’ performance ; as well as how the strategies are structured and operated. Moreover, the architecture of our smart contracts ensures that your assets are safe and secure, your money goes where you want it to, whenever you decide.
Perpy allows traders to create their investment vehicle in a few clicks, manage their trades in a simple secure and low cost way and choose their fee. Share your vault on social networks, quickly gain exposure with our social tools. Perpy is an opportunity to make profit in a win-win manner for you and your followers. Our protocol is currently available on Arbitrum. In the future we plan to develop Perpy on many decentralized trading platforms and become a cross-chain copy trading hub .
How does Perpy Finance works?
Perpy's core contracts have a simple structure: A factory contract is responsible for creating vaults for traders where they will be able to trade users’ deposits. After a deposit is made, the user receives an equivalent amount of shares corresponding to an ERC-20 contract which acts as a proof of deposit. The vault also tracks the performance of the trader through the shares and manages fees redistribution.
Perpy introduces the concept of Trading Vault which is a contract that enables the trader to interact with decentralized Perpetual Protocols like GMX
From the user’s perspective, following someone corresponds to making a deposit in a vault. The owner of the vault can then trade with the vault’s funds as he would trade using his wallet on GMX. However in order to allow users to withdraw their funds whenever they want, some limitations have been introduced in this first version:
- The trader can only trade at market to let the liquidity available for users that want to withdraw their funds.
- After a trade is closed the vault gets back to USDC and not the traded asset.