As mentioned in previous Dailies, Perpetual Protocol plans to list their $PERP token on a Balancer liquidity bootstrapping pool (LBP). This will be the first Initial Dex Offering (IDO) on an LBP – an exciting moment for both the Perpetual and Balancer communities.
As this is the first LBP, IDO participants may not understand the dynamics at play. This Daily plans to outline some of the nuances of this LBP specific to the Perpetual Protocol. First, Perpetual has delayed their IDO date to September 9th at 6:00 am UTC (previously the 7th) and the mainnet launch to an unspecified date after the IDO. This decision stems from the high gas costs on Ethereum. Perpetual Protocol noted that in this current fee environment, open and closing positions would cost around $100 when gas is at 500 gwei. Commenting on the state of Ethereum’s gas is too loaded of a topic for this Daily, but it should be noted that it clearly has material impacts on builders’ decisions to deploy appl