Perpy launches spot vaults for social copy trading

0:01I'm ashon Addison from the cryptocoin show and today on blockchain interviews we have Kar the CMO of pery kar welcome to the show and thanks for taking the time yeah hello thanks Aston for having me today exciting to be here yeah excited to have you here excited to dive into social F uh perss uh and and what pery Finance has been working on I would love to start off with just a high level

0:24on what exactly is pery what has the team built and a little bit about perss if you can and then we can dive into all the details sure sure so so per in a nutshell so is a almost social fire Asset Management Hub so where we are connecting basically investor to Traders with two major components so the trading Vault I will explain a bit the concept and also the communities so on on one

0:53end the the trading VA allow Traders um to to support and we are supporting the the best TR trading tools on on the on the centralized and um for them to allow the trader to monetize their trading skills to grow their brand to manage their Community to onboard their community and on the other side you have the investor who can profit from the trader skilles by allocating funds into

1:21their vault and also always keeping uh custody of their phone so they can withdra at any time so that's where basically the the the uh the magic happens is for investor to be exposed to crypto trading without trading at all and for Traders to monetize their trading skills so that's that's one vertical and the other one is really the social layer of per so really sponsoring

1:48a community uh along one Trader and re sharing uh token sharing Alpha sharing news so the the vault manager I the Trad can act on them and that's where also I would deep deep dive more into the details and that's more coming with the Spud for very cool K and I love this concept because often people come to me and they're like I just don't know that

2:17much about crypto or I I can I just give you money and you can just do it for me you know and um and that there's always so many risks involved in that um but from from what I understand of the concept it's like no I'm not going to take your funds but you can copy trade or follow the social signals um how exactly does that work for somebody who's yeah you know they they just have

2:42ethereum and they're like hey I want to start getting involved in following your trades yeah are we go into more details and maybe explain the the Genesis behind the project and so we started the project in in the summer 2022 and it was more if you are going for example for from from the centralized exchanges that's where most of the retes come from because that's

3:05that's your your first gate into the crypto world and there you can copy trade Trader so you can basically browse through the trader on the platform and and follow that trade but at the end you are taking yourself a position you need to manage your your takech profit your stop loss your sty Etc and it's also you know an active management where compar

3:30to to PP you are more uh you you can see that as this on a funds for example where you are investing your money and the vault manager uh or the trader so that's that's the same person they can just use the the fonts that are add into that V which are a base of smart contracts and they can use that those font to trade so as an investor you don't have to manage your trade your

3:58position you just have to deposit funds and let basically let the trader make money for you so yeah there of course for full transparency there still risk because you're also exper to the down side but the good thing is compared to some exchanges um all the data are coming from from the onchain all thata are on chain so everything is transparent everything is veryable so

4:24you cont cheat as a Trader about your performance so you can see uh the the performance from the Traders from uh when it start his V so it could be one month ago could be six months ago and you can check how many times it's trading the size is it um using High leverage low Leverage is is more uh a swing Trader uh is more an intay Trader so you can basically diversify also your

4:53investment into multiple VT and multiple Traders so that's more on the per side the Perpetual side where you have leverage but you can also diversify with our really a brand new spot vult where there is no leverage it's spot so the trader can be on spot so yeah just just to to sum up compared to some TR change you are not actively copy trading you are more investing in a Trader that is

5:20managing your funds to trade with them and make profit and in the meantime is taking what we call a performance fee so you can that as Commission because yeah you are you are leaving Commission on the table but at the end you are just passively investing in different Trader okay and that's great to know and when I go to perpe I go to the vaults I can see all of these different

5:48strategies is anybody able to create a vault and start being you know the decentralized hedge fund manager and then I guess the track record will sort of bring the best results and returns of the best traders to the top so anybody can sort of see it's good you know transparent decentralized uh blockchain you can see all of the trades and the history to know what you're getting into

6:13if you're going to invest in that Vault yes I got so so you anyone so we are you know in the atos of crypto we are completely permissionless so anyone can come in open a vault create a vault and start being uh a edge fund manager basically all Trader as an investor of course you need to Choose Wisely your Trader and that's where the all the statistics coming from from the old

6:39chain you can choose a Trader that for example has a lot of investor so you can see that okay there is a lot of people following and and trusting that that Trader you can also check the performance over time you can also check uh for example the the maximum draw down uh the maximum profit you made and that's really the the beauty of py is as long as you are building and being a

7:09sustainable and profitable Trader you will attract more and more investor because people will see and use our will see that okay this Trader is knows what he's doing compared to for example one Trader who can come to papy upon a vault and you know just go long 50x on on Dodge and make maybe one profit but uh for example his win loss Rao could be for example one win nine loss and yeah

7:39as as a user maybe you don't want to invest fun in that V so that's also the beauty of being really transparent and as a Trader uh really building your your track record on chain and attracting more investor and as long as you are trading more investor you can take you know trade with more SI so bigger commission and that's where the the the the fly we is starting

8:07MH yeah it sounds like a fun strategy to 50x Doge but um it's very risky as well you know uh one person and you've lost 50% um so is there a limit to the types of strategies or the types of coins you know when you're on pers there's there's so many different coins now that are possible to trade and also different blockchains that some coins are just

8:32coming out on one different blockchain yes what are what are the limit or what is the most common sort of strategy that we're seeing so right now on the Perpetual side so we are on arbitrum and BNB chain but most of the volume is happening on arbitrum so we are supporting GMX which is a flagship on on arbitrum for for trading perpet because you have deep

8:56liquidity you have also um really EX ution order uh execution sorry execution of your order that are secured and you also want um as perit to be built on on really project that are really strong and where you know that Trader will have a good experience so that's for the Perpetual site so for the Perpetual we as I said we are based on on GMX so

9:23right now you have uh all the blue chips so Bitcoin it Doge soul uh I think we have xrp we have also other atom if I remember correctly so that's for leverage we are also um going to support next quarter gains Network also on arbitrum where we will have access also for the Trader to more than 130 pair uh so you will trade you will be able to

9:51trade more crypto pairs on Leverage so that's for the Perpetual vertical and we released last with the spot Vault where you can basically trade any token so we are completely permissionless no white listing you can trade any token on arbitrum on spot so as long as you have a contract address you can just enter that in your Vault and swap usdc to that

10:18token so you can trade protocol you know well known on on arbitr but you can also trade mcoin shitcoin other low cap coin other Lo so that's also where we are targeting more U the the alpha group the the the Trading Group the dent because they they have not now um clear venue for for them to to manage their

10:49community and also to manage their trade so I don't know if you want me to to go deeper because I think that's really interesting uh the the concept and the feature that we are pushing with the spotv but yeah let me know if you want to go deeper yeah I'm curious about the perpetuals with leverage and then spot of course I feel like if you're just getting involved maybe and you're like

11:16you you might see a great track record but obviously there's going to be less risk if you're just going into spot um do you think that that will become a more popular product or you know is there a different audience that you're seeing for these two different uh verdicts that's yeah you that's differently uh that's two different user base for the vult manager because for

11:40Perpetual yeah there is more risk as there is leverage involved so you need really to have Trader with no battle tested strategies and who are really taking care of their risk management system for their stop loss their take profit the sizing their position adding to their long or to their short if the market is reversing Etc so there is more risk there is more gains of course so so

12:07the risk reward uh is could be uh more high on could be higher on the on The Leverage and the perpet side but also on the spots you can have different uh vult manager who can build different kind of portfolio so you have different definitely that's opening up uh a new way and a lot of new way to build your portfolio so you can build you know for

12:35example like uh a strong portfolio based on on the highest market cap uh token on arbitrum so you can for example I don't want to name tier here you know uh you can invest in all the pap de on arbitrum some also some IMM Etc but you can also go uh with a more risk your strategy trading mcoin on arrum trading low cap so also the risk

13:05keward here trading mcoin is also a bit higher so you can see that somehow it's similar to high leverage but that's also the way for you to really to identify your vot manager and and choose your vot uh that you are investing in and you can also I don't know build your own Investment Portfolio by adding I don't know 30% to uh really you know

13:34sustainable and and less riskier work manager but just put 10% in a really you know High uh high risk the you know V manager for example so that that's up to you at the end I'm curious your thoughts K on the appetite for uh this social thi and copy Trading in you know I feel like this defi cycle is just getting started uh

14:04and you know defi was pretty big but uh more um it was newer back in the 21 cycle and we I feel like the industry has matured a lot and more functionality uh has been built out since then and and just more stability um do you think that in the very near future this is something that could be one of the most popular trading Styles uh for people that are getting involved and now

14:30getting deeper into web 3 yeah and that's that's a really good question so yeah there is a lot a lot to uncover so um I'll start maybe with the problem today with the spot Vault and more on the you know the the user who are running the Gen or Alpha community so right now those guys are running either a private Discord or a Discord

14:58server or mostly they are running a telegram group where they share their their trade where they share their new token that they uh you know saw launching or are trending or are getting you know uh getting pum uh pumping basically so they share their entry they share their exit their pnl Etc so that's how they're grow and then manage their Community but we are doing that you know

15:27between telegram running the telegram you know screenshotting chart from De screener and posting that into their telegram Etc so there is a lot of tools involved and switching between dabs and that's where with perp and the spot Vault and also the the social layer and read the the social what we call the communities you can basically onboard your community from telegram to the

15:54social layer that we will release uh really soon and basically changing with your community there you can also create gated access if you want to monetize the access to your group so for example could be public but you could uh for example get the access with a minimum deposit into your vult or with owning a specific nft from a collection and there uh from that

16:20Community you can directly act from you know any ticker or any token contact address that are shared within that group within that messaging up inside perp we can take the trade directly from your VA so that's also removing a lot of friction that's also uh really engaging the community because you can see your vult as a user you can see directly your

16:46V manager taking the trade off a token that you just s on another group you shared that into the the P Community the vult manager take that trade and and then at the end from uh take on profit and as an investor you are directly profiting from sharing that so that's also the the beauty is that you are really uh reuniting uh the

17:13community aspect with the trading aspect under uh one roof that is per basically so that's for more the the you know the degenerate and the dgen and Alpha Trading Group but you can see also propery for retail as you you touch a bit on on that topic uh as onboarding you know more retail into web free you can with the V you can see that

17:44as investment vehicle basically where R can invest into the best Trader and we've we are releasing also next quarter the acun abstraction so that's will REM move all the a lot of friction of creating your wallet bridging you know bridging to to arbitrum or any other chain having some some gas feeld so those frictions for

18:12for us you know web free user are quite common we know how to bridge we know how to how to fund our wallet Etc but for new user coming from as C A changes or even with onr solution you know that's we need to remove that friction and ACC absortion will remove one part of that and also creating what we called uh the metav volt it's it's more that's I'm

18:40going deeper into the concept but it's more aggregating different volt into one uh one parent volt where you can diversify you can have you can invest in one volt and that investment will be split into different VTS uh and in between sorry um different underlying vs so basically you're also spreading the risk on onto different manager so it's

19:09more creating for example different strategy using different vult manager and you can also create more uh profile risk for those retail investor to really abstract that concept and be really user friendly and onboard that that retail user on to so that's that's the end goal wow that's very cool and it makes sense what you're saying about the

19:38current setup of telegram Discord having these groups and then having to share your screenshot of of your trade and people sort of are on their own just like try to follow the screenshot and the timing and not really understand uh and I feel like there's so many of those groups uh where there are major traders that have huge followings of tens of thousands or hundreds of thousands of

20:02people for them to move into pery uh not only will they have to they'll remove a bunch of steps but also there's the commission and sort of seeing the funds and more transparency I feel like you're cutting out a lot of steps making it easier to onboard and bringing more transparency which blockchain should yeah yeah definitely and you're also trting in know way the manager so a

20:30manager that is posting you know a chart or even posting his performance on Twitter we we saw that a lot and and we will we will see that a lot with the ban starting the good thing with with purpose is that you can you know if you're posting a performance that's that's something that is on chain so you can verify that it's not a fake that you actually took the trade and you actually

20:58you know uh uh you can see the entry the the entry level the exit level The Profit made and that's also how you build trust as a vult manager that you are taking the trade and you are transparent about your trade and you are not dumping on your community as you know very is a lot of also these uh scams running and per is also removing them because that's also a way uh a vote

21:27manager will not d his reputation by you know tricking his community because everything is transparent so that's also a way for his community okay I will invest in and I will follow the news and the the token that are shared by that vot manager by that you know CH or on crypto Twitter icon because he has a vote on purpose so I can you know track and and be sure that okay this guys is

21:53TR fry and and know what he's doing MH no that makes sense and especially with crypto Twitter it's so easy for major influencers uh or professional traders to just only post the screenshots of their of their winning trades and not post a screenshot of all of the trades that they didn't win you know it makes them look like they have a 100% track record uh I'm sure none of them are

22:16sharing you know very few share uh when they lost a trade you know uh although it does show The Human Side um I'm sure a transparent pery Vault will give you the full picture yeah and definitely uh I know that you guys have a lot on your road map um the spot vaults is is huge I believe for retail as well uh can you talk a little bit about what else you guys have I know

22:42you mentioned social is going to be going further uh the metav vaults um is there anything else that you think will really help lower the barriers to entry and get more people involved into social F yeah so so the social layer is the so as you mentioned yeah the sport vs is a big step for us um being completely permissionless and targeting Alpha Group

23:06D James Trading Group and adding the the missing piece of the puzzle which is the social layer which we are working on for quite some time and that will be released really soon um so we have the the base layer for the social file uh and the and the asset management and then on on top of that as explain the the metav volt but it's more um you know continuing to to expand the number of

23:36pair for Perpetual volt uh removing the user friction with AC subraction also expanding maybe and we where it is that expanding to other layer to or other chains because we want to to integrate more chains so the vault manager have more option and maybe are more used to one chain and they want to trade there and not on arbitrum for example so we

24:05want also to expand that and adding all verticals right now we have perpetuals pvt but what also is coming is option so that's more for more complex strategy to edge for to allow Trader to Edge themselves by taking option to Edge their trade on Perpetual we have also nft trading which could be also really successful because we know that nft

24:32trading volume during B one are also some somehow really quite more higher than than what we saw during the BR market so we will also introduce nft nft trading nft perir and uh sport bet also for different kind of you know vote manager just want to to open a V and and do that sport betting because there are some knowledge on that

25:00vertical so that's where we are really adding in term of adding more vertical and really building the social F layer so we add uh more functionality for for the social aspect so that's definitely you know building that uh messaging app but we want to add more feature more gated access uh more way to for example even copy a volt into your own volt so there is a lot of

25:30community and social aspect that we are pushing uh throughout 2024 so yeah that will be the the main Fe and adding on the spot Vault developing the um the DJ or uh tools for example onod Checker maybe that's that's a bit specific but onod Checker token sniffer so really that the D have all their tools into one Tab and they don't

25:58have to you know to switch between different and also some AI trading AI trading strategy that are really uh interesting and we have some some Community Le effort already uh they already launch on their own um a Perpetual Vault that is using the tenser toi signal and they are using that to replicate the trade in to their

26:29V so that's also a really interesting um concept that is completely you know built from uh by the community and built on top of C wow that's really cool and I feel like as AI grows it's going to be important to have ai strategies in there or at least an AI portfolio some of the projects I know they've been doing well so far um that's really cool what is the

26:55best way to follow along for those updates um so people can test them out when they're ready and you know I know you mentioned there's a few sort of onboarding steps hopefully we can lower the Ben the barriers to entry as much as possible but where's the place that people get started to do all this so right now for for all community and announcement rated so the best way is to

27:20open on our Discord uh so that's that's where the the community is we also have a telegram which is a bit less active on the Discord and also on the Discord it's where it's best to to ask your question uh our moderator and and we also uh our community are more uh most active there and for if you want to try out the uh the DBS you can go directly to pp.

27:48finance and just connect your wallet sign the message just to to enter the app and just create your V the the steps to create your V is a few clicks away so you have maybe three or four clicks to do just to create a vult so could be a perpet VT could be a spot VT and then just have to deposit funds there as a Trader to start trading of course and start building

28:16your track record your performance uh your performance track record and attract investor into your V so that will be uh the easiest step and of course don't hesitate to you know to try out the platform to go on to the Discord give us your feedback because we are really eager each time to understand and to know the user experience so we can improve also those onboarding step those

28:43little sometime little user friction that a user can encounter and so we can fix them so we can fix them to improve that experience wow yeah no it sounds like uh the the the platform so far is it sounds really good um and and there's still a lot to come so I'm I'm going to try out the vaults myself as well and um I can leave the link to the Discord community and the

29:09telegram and also just the platform direct link in the show notes below for those who want to start checking it out and I'm excited for all these updates I would love to have you and the team back on you know in the near future to discuss more and you know all the best uh in the near future for pery and let's follow up very soon thanks ason for for having me that was

29:32very interesting yeah the the exciting things are coming so exciting and and and really be happy to have a followup in one or two quarter sounds great