what is perpetual protocol (explained in under 5 minutes)

Perpetual Protocol lets you trade a wide range of assets, including short selling, with up to 10x leverage. In addition, you can earn fees by providing liquidity or staking protocol tokens. All this can be done programmatically, or via web3 interfaces.
(this video from youtube channel zapppelphilippp)

What Is perpetual protocol?

Perpetual Protocol is a decentralized finance (DeFi) project that enables this service through written code, without the need for financial intermediaries. Moreover, Perpetual Protocol is simply a collection of programs (smart contracts) running on the Ethereum blockchain that were composed to communicate and replicate services offered in derivatives markets.

$PERP token is Perpetual Protocol’s ERC-20 native token, powering the whole system in two ways：staking and governance.

In addition to being a fundamental aspect of the network, PERP can also be staked. Stakers are rewarded with unallocated or newly minted token supply, as well as half the trading fees in the network.

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