## What Is Perpetual Protocol? Perpetual Protocol is a [decentralized exchange](https://coinmarketcap.com/alexandria/glossary/decentralized-exchange-dex) (DEX) for trading perpetual [futures](https://coinmarketcap.com/alexandria/glossary/futures) — V1 was initially launched on [Ethereum](https://coinmarketcap.com/currencies/ethereum/) scaling solution [xDai](https://coinmarketcap.com/currencies/xdaistable/), while V2 launched on Ethereum [layer-2](https://coinmarketcap.com/alexandria/glossary/layer-2) (L2) scaling solution [Optimism](https://coinmarketcap.com/currencies/optimism-ethereum/). The exchange also plans to add other [EVM](https://coinmarketcap.com/alexandria/glossary/ethereum-virtual-machine-evm)-compatible blockchains in the near future. Users can trade a variety of assets with leverage up to 10X and go long or short on them. With the [non-custodial](https://coinmarketcap.com/alexandria/glossary/non-custodial) nature of the exchange, traders retain possession of their assets and can execute trades directly from their wallets. The vAMM (virtual [automated market maker](https://coinmarketcap.com/alexandria/glossary/automated-market-maker-amm)) provides [on-chain](https://coinmarketcap.com/alexandria/glossary/on-chain) [liquidity](https://coinmarketcap.com/alexandria/glossary/liquidity) by offering predictable pricing through a constant product curve. The vAMM is designed to be market-neutral and fully collateralized. V2 integrates with [Uniswap V3](https://coinmarketcap.com/exchanges/uniswap-v3/) to allow [liquidity providers](https://coinmarketcap.com/alexandria/glossary/liquidity-provider) to choose where along the price curve to provide liquidity. The exchange’s goal is to become the most secure, most accessible and most decentralized derivatives trading platform and embrace the ethos of “[DeFi](https://coinmarketcap.com/alexandria/glossary/defi) money legos.” To achieve this goal, it has already launched [staking](https://coinmarketcap.com/alexandria/glossary/staking) pools, expanded to several blockchains, and introduced [limit orders](https://coinmarketcap.com/alexandria/glossary/limit-order) and [stop-loss orders](https://coinmarketcap.com/alexandria/glossary/stop-loss-order). It further plans to introduce leveraged tokens and launch dynamic liquidity pools for more efficient trade execution. ## Who Are the Perpetual Protocol Founders? Yenfen Weng and Shao-Kang Lee, two crypto entrepreneurs from Taiwan, launched Perpetual Protocol. Prior to that, they had founded accounting companies for crypto startups. The exchange is backed by CMS Holdings, Binance Labs, Alameda Research and Zee Prime Capital, and closed a seed round for $1.8 million in 2020. ## When Did Perpetual Protocol Launch? Perpetual Protocol launched in September 2020. ## Where Is Perpetual Protocol Located? The core team is based in Taiwan. ## Perpetual Protocol Restricted Countries Perpetual Protocol restricts several countries: Taiwan, the United Kingdom, Antigua and Barbuda, Algeria, Bangladesh, Bolivia, Belarus, Burundi, Myanmar (Burma), Cote D'Ivoire (Ivory Coast), Crimea and Sevastopol, Cuba, Democratic Republic of Congo, Ecuador, Iran, Iraq, Libya, Mali, Morocco, Liberia, Nepal, North Korea, Somalia, Sudan, Syria, Venezuela and Zimbabwe. ## Perpetual Protocol Supported Coins List Perpetual Protocol supports futures trading of several big cryptocurrencies like [BTC](https://coinmarketcap.com/currencies/bitcoin/), [ETH](https://coinmarketcap.com/currencies/ethereum/), [ATOM](https://coinmarketcap.com/currencies/cosmos/), [AVAX](https://coinmarketcap.com/currencies/avalanche/), [FTM](https://coinmarketcap.com/currencies/fantom/), [BNB](https://coinmarketcap.com/currencies/bnb/) and others. ## How Much Are Perpetual Protocol Fees? The exchange charges a 0.10% maker and taker fee. Fees are settled in ETH and stablecoins such as DAI and USDC. ## Is It Possible To Use Leverage or Margin Trade on Perpetual Protocol? It is possible to use up to 10X leverage for non-custodial trading on this exchange.