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Launched in 2018 as “Strike” and later relaunched with a new name and the mainnet in December 2020, Perpetual Protocol is a decentralized exchange (DEX) designed for leverage trading, short positions, and low levels of slippage. It uses a virtual automated market maker (vAMM) and collateralization vault to settle trades and enable trading in perpetual contracts, which are futures without expiry.
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