Perpetual Protocol is an Ethereum token of Perpetual Protocol, a decentralised exchange containing perpetual contracts. Users can trade with up to 10x leverage and open long or short trading positions on various assets such as gold, fiat, Bitcoin, and Ethereum. Perpetual Protocol uses a process that includes a collateralisation vault and a virtual automated market maker (vAMM), which are designed to settle trades and provide ease of access to perpetual contracts. The PERP token itself is used in staking but is primarily designed to facilitate decentralised governance of the protocol. Holders of PERP tokens accrue voting rights proportional to their holdings.