TrustToken, creator of leading lending protocols TrueFi and stablecoin such as TrueUSD, has announced a partnership with Perpetual Protocol (PERP), a decentralized derivatives exchange based on Ethereum. Oh First protocol-to-protocol lending
This portfolio will provide market makers access to competitively priced loans. To support deeper liquidity in PERP, the portfolio reportedly launched with $5 million in assets backed by investors of the Perpetual Protocol.
Rafael Cosman — CEO of TrustToken confirmed the company’s excitement about the partnership, saying:
Smart contracts allow us to transparently build complex financial products, perpetual’s decentralized futures contracts are never-ending. It is a prime example of the new financial engineering enabled by blockchain technology, and TrueFi is excited to support Perpetual as its blockchain lending partner. The first protocol-to-protocol, which adds liquidity to Perpetual’s groundbreaking offering in a portfolio that we expect to pass $100 million by the end of the year.
TrueFi is also helping Perpetual to scale its liquidity by launching a dedicated portfolio of credit to market makers that offer direct liquidity to Perpetual’s trading pairs. The portfolio is designed to accommodate the large number of lenders in the future. At the time of launch with support for a limited list of participants. Most of these limited participants come from the Perpetual Foundation and PERP ecosystem backers, including Multicoin Capital and Dragonfly Liquid.
Additionally, the TrustToken — TrueTrading affiliate will manage the portfolio on behalf of PERP. It will also provide compliance services to ensure the smoothest experience for the Perpetual Protocol and its partners. It’s easy to engage with Perpetual on TrueFi through this partnership.
In addition, Perpetual Protocol co-founder Yenwen Feng said the importance of market makers to DEX:
Market makers are essential for decentralized, user-driven exchanges. Because they are the tools that keep things going. By partnering with TrustToken, we make our market makers more liquid to access. Because they support our own trading pairs. This gives market makers more confidence through greater market stability and lower slippage, which ultimately results in a better trading experience for all of our users.
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