$PERP governs the DAO's treasury. The vePERP implementation should protect governance from sybil attacks and incentivize HODLers, since its gauges account for both the amount locked and locked period. vePERP currently allows users to earn referral fees and part of the protocols' fees.

governance, staking rewards and to benefit from the protocol’s growth (i.e., speculation)

Self-custody, liquidity on robust financial products, market making and composability (other Dapps can build on top of Perpetual DEX)

Trading fees (0.1%) accrue to LPs and to stakeholders. Perpetual will implement USDC yields, where it will distribute 10% of fees to vePERP holders in USDC. The USDC yield switch will be implemented once the insurance fund reaches 10% of the 30-day open interest across all markets.

Perpetual's revenue comes from the trading fees. Hence, business sustainability depends on the trading activity taking place in the platform, i.e., the higher the notional trade volume in USD the higher the protocol's revenue.