Perpetual Protocol (PERP) altcoin has recently launched a new platform called Hot Tub, which aims to provide users with a simplified and automated arbitrage strategy.
Perpetual Protocol (PERP) Developers Announce Altcoin New Move
According to the developers’ post on the PERP altcoin official Twitter account, Hot Tub is designed to make this service accessible to everyone, regardless of coding or trading knowledge.
According to Perpetual Protocol, Hot Tub offers users a low-risk return of about 10% APR and ETH or USDC It claims to offer the opportunity to accumulate. In addition, altcoin developers have reported that for now, the new platform can be used without any fees.
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Introducing Hot Tubs:
Democratizing Arbitrage Alpha
Our Hot Tub vaults make alpha accessible through an automated arbitrage strategy!
Here’s how 🛁👇 pic.twitter.com/jLiycoZRpE
— Perpetual Protocol (✨🔴_🔴✨) (@perpprotocol) February 23, 2023
Hot Tub’s strategy involves executing arbitrage strategies on the OptimismFND network, taking advantage of price differences between Perp and the perpetual swap market on decentralized exchanges.
According to the developers’ own words, the new platform will be completely “on-chain, secure, and non-custodial”.
Access to Hot Tub is currently only available to whitelist users. However, Perpetual Protocol noted that more markets and strategies will be added to the platform in the future.
Perpetual Protocol is a decentralized exchange (DEX) used for futures trading on Ethereum and xDai.
Perpetual Protocol was launched by Yenfen Weng and Shao-Kang Lee, two Taiwanese crypto entrepreneurs who have previously set up payment and account companies for crypto startups. Most of the team is based in Taiwan.
*Not investment advice.
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