Announcing Perennial, a DeFi-native derivatives protocol backed by Polychain, Variant & Archetype

▤ Summary

Perennial uses a DeFi-native trading model: no order books, zero price slippage, and permissionless leverage, plus DeFi-exclusive markets (like Squeeth) & composable positions. The next era of finance will be built upon derivatives, and Perennial will be a core catalyst in making this happen.Perennial enables the creation of two-sided markets that trade exposure to an underlying price feed in a capital efficient manner.Perennial acts as a peer-to-pool derivatives AMM that perpetually offers to take the other side of any Takers position directly at the oracle price, in exchange for a funding rate that floats based on utilization of the liquidity pool (similar to Compound/Aave). Cash-settled trades, both long & short, settled in $USD, not crypto Two-sided leverage Makers & Takers can both open positions with leverage Isolated markets markets & risks are segregated, rather than grouped together Arbitrary exposure launch markets for any exposure by customizing the payoff function, utilization curve (funding rate), oracle, fee model, etc.with many additional exciting features in the pipeline for future releases.For more details, see Perennials documentation at docs.perennial.finance.Earlier this year, we raised $12MM in a seed round led by Polychain Capital and Variant, with participation from Archetype, Scalar Capital, Robot Ventures, Coinbase Ventures, and a.capital.In addition to this, we are lucky to have some of the top builders & leaders in the space join the round as angels, including:Perennial V1 is live on mainnet! Were starting with a guarded launch and will gradually ramp up the liquidity caps, number of markets, and L2/cross-chain deployments.Perennial is keen on exploring collaborations with people & groups who will help us build toward our grand vision of becoming foundational infrastructure in the DeFi derivatives stack. If youre a project or developer, and this gets you excited, get in touch with us (twitter, discord, email below)!Last but not least, we know that any successful DeFi protocol is contingent upon the support of its early users and the continued incentive alignment of the ecosystem.

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$500M to $1B