Perpy is an Arbitrum copy trading protocol that operates on a decentralized perpetual exchange. As a follower, you can copy the most successful GMX traders while traders can monetize their trading skills through performance fees earned from their followers. With Perpy, managing your trades is simple, secure, and low-cost.
In 2023, Perpy raised $5 million through its successful public sale of PRY tokens on the Camelot decentralized exchange.
The Trading Vault feature on Perpy is designed to simplify the interactions between traders and decentralized Perpetual Protocols, including GMX. Followers of a trader can deposit their funds into the vault, allowing the vault's owner to execute trades using those funds. Once a trade is completed, the vault is returned to USDC.
Perpy generates revenue through two types of fees: performance fees and exit fees. The platform has its own token called PRY, which has deflationary mechanisms. In addition to PRY, there's also an escrowed token known as xPRY. xPRY serves multiple functions within Perpy, including giving holders access to 100% of protocol revenue from performance and exit fees when they allocate their stake to the Dividends Plugin. xPRY holders also benefit from fee reductions and rebates on TradingVaults for both traders and investors. Additionally, xPRY holders can influence governance parameters and future implementation proposals by allocating their xPRY to the Governance Plugin.
PRY has a total supply of 1,000,000,000, and its circulating supply is unidentified.
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