Perennial

How to Earn Perennial Petals

To start earning petals in Perennial’s reward program, follow these steps:

1. Set up a compatible wallet – Install MetaMask or another Ethereum-compatible wallet that supports Base network.
2. Obtain ETH for gas fees – Purchase ETH from Binance and withdraw it directly to your wallet using the Base network to avoid extra bridging steps.
3. Get USDC for trading – Use Odos or another DEX on Base to swap some of your ETH for USDC, which will be used as collateral for trading.
4. Connect to Perennial – Visit Perennial’s platform and connect your wallet to the application.
5. Deposit funds – Navigate to the deposit section and add your USDC to your trading account.
6. Start trading – Open positions on available perpetual markets to begin accumulating petals.
7. Activate referral code – Go to the “Refer” section and enter a referral code to maximize your petal earnings.
8. Create your referral link – Generate your own unique referral code to share with friends and earn a 25% match on their petal earnings.
9. Trade regularly – Maintain consistent trading activity to maximize your weekly petal accrual.
10. Participate in Petal Quests – Join community-driven challenges to earn bonus Petals.
11. Stay updated – Follow Perennial on social media platforms, particularly X (formerly Twitter), for announcements about program updates.

Maximizing Your Perennial Petals Earnings

To optimize your rewards in the Petals Program, consider implementing these strategies:

Trading Strategies

• Diversify your trading – Engage with multiple markets available on the platform to diversify your activity.
• Optimize position sizes – Find the balance between gas costs and position size to maximize efficiency.
• Manage funding rates – Understanding and capitalizing on funding rates can enhance your overall trading performance and indirectly boost petal earnings.
• Time your trades – Trading during periods of lower gas fees can improve your net results.

Referral System Optimization

• Target active traders – Focus your referral efforts on individuals who are likely to be active traders to maximize your 25% match benefit.
• Educate your referrals – Help new users understand how to use the platform effectively, increasing the likelihood they’ll remain active.
• Share your experiences – Document your trading journey to build credibility when sharing your referral code.

Frequently Asked Questions

What makes Perennial different from other derivatives platforms?
Perennial distinguishes itself through its minimalist, first-principles approach to derivatives trading. Unlike general-purpose platforms, it’s specifically designed for perpetual futures with features like zero slippage, customizable market structures, and utilization-based funding rates. Its dedicated perps rollup architecture also optimizes for efficiency at every level.

Do I need to hold specific tokens to participate?
You need USDC for trading collateral and a small amount of ETH on Base for gas fees. There is currently no specific platform token requirement to participate in the Perennial ecosystem or the Petals Program.

How are the Petals distributed?
The 1,250,000 weekly petals are distributed based on trading activity and participation in the platform. The exact distribution formula isn’t publicly detailed, but regular trading and referrals are key factors in accumulating petals.

Is there a minimum amount required to start trading?
While Perennial doesn’t enforce a strict minimum, you should consider gas costs on Base when determining your initial deposit. A practical starting amount would typically be at least $50-100 in USDC to ensure that transaction fees don’t significantly impact your trading capital.

When might the Petals Program conclude?
No specific end date has been announced for the Petals Program. As a long-term initiative now in its second season, it appears designed to support the protocol’s growth phase. Users should follow Perennial’s official channels for any announcements regarding program changes.

Conclusion

Perennial represents a significant advancement in DeFi derivatives trading, offering a capital-efficient and flexible platform for perpetual futures. By participating in the Petals Program, users can engage with this cutting-edge protocol while potentially positioning themselves for future benefits as early adopters.

The platform’s transition to a dedicated perps rollup on Base demonstrates its commitment to optimizing the trading experience through reduced costs, faster execution, and enhanced capital efficiency. Whether you’re an experienced derivatives trader or new to DeFi, Perennial’s approach to perpetual futures offers a distinctive opportunity to explore an evolving sector of the decentralized financial ecosystem.