So basically, so I started my crypto journey in 2019, something like that.
So mostly I'm a DeFi user and long-term investor.
So I'm the CMO currently at Perpi for one year now.
So I'm mainly taking care of the day, so I'm mainly taking care of the day, so I'm mainly
just maybe a bit about my background and why Perpi, so I started my crypto journey by speculating,
I think, which I'm a little bit on this, so I'm not a little bit of a lot of us, and so on.
with me. So yeah, that's my background at Perky and my world.
Nice. Pretty interesting. Thank you for sharing more information about you, Karndan. And yeah,
to be honest, there's many paths for the people who are joining the Web3 ecosystem. But yeah,
very cool to get to know more about yours. It's always very cool to know more about the people
who are building the ecosystem. But yeah, today we are discussing about Perky. So I would
like to ask you, what is Perky? And yeah, what do you do in the ecosystem?
Yeah, sure. So Perky, so we started building since one year now, basically. So we started
more in stealth mode starting in the summer 2022. But the first, the first that was live
in December 2022. So one year from now. So we have a lot to, I think a lot to cover today.
But in a nutshell, what is Perky? So Perky is a social finance and asset management hub.
So we support perpetual DEXs and soon spot trading and option in an amazing UI now. And through the
concept of trading vault, which I will touch on a bit later. So in short, we have two users on the
platform, traders and investor. So traders can create trading vaults. They can trade like they will do on
any DEXs, DAB DEXs, and they can trade with their funds, or they can also attract investor funds,
the other user base of the platform into their vault. So they can trade on their BRs. And then the trader
can earn commission on any profit they will generate basically. On the other side for the investor,
investor, if you're an investor, like me, looking at, you know, growing your portfolio or be exposed to trading,
but you don't know how to trade. That's what Perky is for. So you can basically invest in skilled vault manager or
trader while keeping the full custody of your funds. So you can, you know, the trader can only trade with your funds,
but it can't withdraw them. And as all the trader performance are transparent, because everything
is on chain with Perky, you know, no trader can cheat or lie about their performance, you know, no fake
trade performance on, on Twitter. And, you know, you know what I mean, what we, we saw on the, on the
price cycle. So that's basically the concept behind Perky is connecting skilled trader to investor,
basically. So everyone is, you know, is in a win-win situation at the end, because trader can earn
commission by trading and investor can be exposed to crypto trading without, you know, know how to trade.
So that's the, the whole concept of Perky.
Fantastic. Yeah. You explained it very, very well. And now, now that we know what is Perky finance,
what, what do you bring to the, to the ecosystem, to the community? I would like to ask you, like,
what's the best way for the community to get involved and get to know more? Like, let's say
here, maybe there's many Arbynotes that are new to Perky finance. So they go to your ex account. And
then what, what's this path for them to follow? So they can jump on either the telegram, I would
recommend the discord, which is more active. And this is where basically the, the communities is
staying, so they can ask questions, but also they can try to adapt. So they can, now we just, you know,
went public last Friday. So that's really fresh with our version two of the platform. So they can go to
the platform, create their profile. If they're, you know, good traders, they can open the trading vault,
they can deposit a bit of funds, start, start trading. And if they show good performance,
they will attract organically some TVL from other investors, or if they're an investors,
they can look for different, you know, traders on the platform and invest and diversify in,
in different traders. So, you know, I think the best way to get involved is try to try to adapt,
open on the discord, interact with the community. We have really an amazing community who can answer
question or moderator and also our OG that was, you know, a lot of knowledge and, and basically
experience about the platform, as we are now launching our version two. So there is some kind
of track record, I can say, and a lot of history beyond purpose. So yeah, that's, that's what I will
recommend for, for new commerce.
Great, great, fantastic. Yeah, very straightforward process. And, and yeah, if someone for a sequence
has a question, it's very good that you have a discord, so people can jump in there.
And, uh, what do you think the, that is the problem that you are solving? Like, why, what was the
inspiration of building Perpi Finance? Or what did you find there in the ecosystem that wasn't there?
So you are, you are giving that option to the community to have it.
Hmm, great question. So basically why we started Perpi and, and what problem are we solving? So
I will start from, um, the investor side. So basically also my story. So when you start,
as I said, when you start looking at crypto, you basically, uh, most of us, not all of us, but most of us,
you are, uh, attract to, to crypto for making some money. Let's be honest. You, after that,
you stay for the tech or the toes or the community, but first that's the, the first step, basically,
it's like speculation. But when you are started, for example, like me, you are not a professional
trader. So what you are doing basically is you will end up, I mean, maybe 90% losing money because
learning about trading, uh, to trade all the psychology behind, you know, being a good trader,
being a sustainable and profitable trader that's required some experience that required some,
that's, that's not for all of us to be honest, and also required a lot of time and a lot of effort,
uh, to, to be a good trader. So there was, you know, um, the old concept of copy training on
central logic changes. So there was already, you know, a market for that. And, but there was no option for,
uh, copy trading or social trading, social finance in, in the decentralized space. And what we
thought behind that is as an investor, you want, um, to be exposed to crypto trading and you want to
be exposed to making, making some, some money and earn, but if you could do that without trading, you know,
that's, that's the sweet spot to be honest. And so that's why we decided to bring, uh,
the copy trading model, but also improving that model, because the whole thing with
copy trading on central logic is you are copying traders, but you need to, uh, you must manage your
position size, your stop loss, take profit. So basically that's not a passive copy trading or passive
investment in trader. And what we did differently is, okay, let's create some kind of what we call
the trading vault, which you can, uh, call that, for example, this one to a large fund, for example,
and let's, you know, let's investor invest in already profitable and, and skilled trader and
and just give them, you know, just give commission because that's, you know, that's, that's the
incentive, but that's also how you will, you know, earn and be exposed to crypto trading without
trading. So that's, that's the problem that we are solving. And also by bringing that on chain,
you are adding all the security about owning, having the full custody of your phone, because you're,
you're on chain, you're on the decentralized world. So you have your keys, you have no risk of, uh,
being, you know, locked up in a centralized exchanges and also all the performance from the trader.
You can't, uh, cheat or lie about your performance because everything is on chain. So as we are using
and the underlying perpetual decks or spot trading or option, everything is a chain. So everything is,
you can verify everything basically. So the performance that we are showing on the dApp,
that's the real performance. So, so that's also the, you know, the, the added value is bringing the best
of social trading, but on chain and giving all that to the user.
Yeah. It totally makes sense. I'm totally, totally agree with you. Like, and yeah, as, uh, they say,
don't trust verify. Exactly. Everything and all the data is going to be there. So no one can fake it.
Yeah, exactly. That's, that's, that's what we are doing basically is wrapping all the information that
you can gather on chain in a nice UI with a lot of statistics. So even as an investor, you can,
you know, diversify in different trader. For example, you can make, um, some allocation in the long,
uh, long-term swing traders. For example, you can also allocate a small portion with a more aggressive day trading
or scalpers. So you can even, um, given your, your risk tolerance, basically you can invest
and allocate proportionally to different kinds of investors, uh, or traders, sorry. And that's, you know,
that's also how you can grow your portfolio. And as we say, not a financial advice, but the risk reward can,
can be really good. If you are investing in really good trader, that's what we are looking for. Basically
for, for Perpi is having, we can see that as a good marketplace of skilled trader, basically,
if I can just sum up in, you know, in a short sentence for, for the investor.
Nice. Those are great features, to be honest. Great, great that it can be there.
Yeah. Yeah. So, so that's, that's for, just wait, so that's for the, the investor side,
but also for the, for the trader, the, the problem that we are solving is
the trader can, you know, go to Perpi and have everything in, in one DAP. So for example, as
we are aiming to, so right now we are supporting level finance and GMX, uh, V2 will be supported in,
uh, considered that right now, but really soon. So that's, that's a matter of, of days. Um,
so you can have multiple, multiple pair decks, but also you, if you are more, um, a spot trader,
you will have spot really soon in December with one inch and for also options. So we will support
really soon the, the option with, with Lyra. So basically we are bringing the best of Arbitrum in
terms of derivative and in terms of, uh, Texas into one platform. So the traders don't have to
jump, you know, between different DAP and, and deposit funds in different DAP, you know,
in different tabs and managing everything and also need to have a trading journal. So what we are bringing
is really one platform with everything, uh, in terms of a pair decks option and spot plus a really,
really great, uh, trading journal. So that's one big differentiator. So you have everything on
chain. So we can just spin everything in one UI and you have all your performance, all your metric,
all your, your trading history. It's just one UI. So one DAP just for all traders. And on top of that,
you can launch basically your, this on for that end fund on top of that. So if, if you want just to
trade, Perpi is really great. If you want on top of that to attract investor to make, you know, to trade
on their behalf and earn commission on top of your own funds and on top of your own profits,
that's also the really big added value for trader is you have everything in one DAP, but you have
also that sweet spot of, uh, trading, you know, and trading on behalf of your investor, growing your
community, growing your brand. That's, that's the social part of Perpi that I may also touch on later.
So that's basically, yeah, the, the two persona and the two user of Perpi and, and what problem,
uh, the, the problem that we are solving. And that's, yeah, that's, that was a long space for me,
but we, that's the, the main problem that we are solving right now.
No, fantastic. Thank you, Karen. You also shared what are the things that you can do there. And
yeah, as well, I agree with you as well. It's important thing is that you can learn from others
as well. So, so yeah, this is, this is very cool. Yeah, exactly. And you, you also mentioned like some,
some things like what you can do, or for example, with GMX. So I, I would like to ask you,
like, why did you choose Arbitrum? That's, that's a good question. So why did we choose Arbitrum?
Uh, I mean, it's, it's quite simple. So the chain itself, the layer to itself is, is great and easy to,
to use. And I will not mention the, you know, that it's faster with cheap, cheap gas fees. And that's also,
uh, kind of the, the home of, um, of all the, the derivatives. So if you just, you know, look at the,
the, the derivative landscape in the broader, you know, blockchain ecosystem or crypto ecosystem,
that's where you have the, the best, uh, perp decks like GMX, you know, with, with marks, uh, and, and
against trade and all, all of those, um, you know, perp decks are doing amazing volume. And that's also,
uh, you know, safer for a protocol to launch on a chain where there is already an established
ecosystem. And that is not, you know, just waiting and, and, and using the, the TVL and, and wait,
you know, and nothing happens. So they are shipping constantly. And that's what also,
that's what we like is, okay, for us, it's really great to have these protocols that we can build on
top. And we know that they will not disappear, you know, after the, the hype is finished. So
that's why we choose Arbitrum basically. Um, and definitely we can see the innovation happening here
with other perp decks launching and, and there is a good competition, which is good to, um,
to have those protocols stay on top of things and, and constantly, you know, shipping new,
new features and, and attracting more, uh, user and more traders. So, so that's why definitely,
that's why we choose Arbitrum. And that's why we are really happy to, to supporting, you know,
those protocols and, and, and also to, to be able to launch and to continue, uh, our roadmap with,
Great. Thank you, Farron. Thank you for sharing why, why you choose Arbitrum. And yeah,
to be, we, we, we are excited to have you too, as well, building the ecosystem and be,
to be part of the, of the family. Uh, there right now also like Arbitrum has always thought on, or
have had the security first mindset. Uh, so yeah, at the moment, Arbitrum is the most advanced and
secure, uh, layer two, according to layer two bit, an organization that is analyzing all the,
the, the, um, the developments in the, all the other layer two. So, so yeah,
we are excited to have you here on board and cool. Well, I would like to ask you more about what is the
current stage of development that you have on Perpi Finance? Like, I know that you already shared the,
yeah, like you, you made a huge announcement, like a few days ago.
Yeah. Yeah. So last Friday, uh, so we launched, uh, our public version two, our public V2 so-called
Spectra after, uh, nearly three months of closed beta. So we launched the closed beta in September.
Um, so really gated access for the community, for our, you know, user. Um, it was to, to have the,
you know, the feedback and the feedback from the community, the feedback from the power user of Perpi,
uh, just to be sure that everything was working to, to shape also the product and to gather all the
feedback. So the product was really ready for the public launch. So after three months of iterating
with the community, gathering feedback, implementing feedback on, on the UI, uh, on the process also to,
for new user coming to the platform, we launched the public. Uh, but yeah, before that, just a bit of
you know, of history. So we launched the version one. So the MVP in November, November, early December,
2022. So one year ago, um, and then when we, we raised a fund with a public selling in, in March,
that's where we, we doubled down on launching, uh, the development of that version two, uh, where we
completely revamp, uh, everything from scratch, just to be able to support, um, multiple decks.
Uh, so multiple pep decks, multiple, uh, not multiple, multiple assets also. So pep decks also
are set for spot trading and also option in one trading vault to one UI. So we had to
code everything from scratch. And also the big change that is, uh, just the, the tip of the
iceberg, but it was also the, the UI, like we completely, uh, create a new, created a new UI,
um, with profile, with more metrics, with that trading journal, as, uh, as I touched on, and also a
clear process for investing, exploring the, the different vault and exploring the, the different
trader metrics. So yeah, that was a long journey, uh, to be honest, but yeah, we are really glad now
that we launched the public and we have a lot of feature to, to roll out are already, uh, disclosed
or announced that we will support GMX V2 in, uh, in some days from now. So more in December, early
December, then the spot trading, uh, spot trading is coming and other amazing features. So that's,
that we will support. So yeah, we're expecting to see, to see that live and now to, to attract and
to attract users, to attract investors and traders to the platform.
Great. Congratulations for that. It's, it's very, it's a new building. Thanks. Yeah. That was a long
journey. So we are exhausted, but we are also excited also to, to see that now public and, and yeah,
to, to reveal to the, to the arbitrary community, uh, what we, we did build for, for, for the last,
the last six months basically. And, and then, uh, the, yeah, we can't say the last nine months,
but, uh, six months plus three months of close beta. Yeah.
Oh, that's exciting. Cool. Fantastic. Yeah. Builders are building. So happy to see that.
And, and yeah, maybe you can share more about what's coming next. Like what are,
what is coming for appropriate finance in the future or what are you already doing? I don't know,
maybe some alpha here, I'm not sure, but be careful because this stays recorded. So,
yeah, I know. Uh, so, so yeah, so we have, I don't think we have a lot of, uh, you know,
features running out. So as I said, so that's, we already announced that, uh, GMX A2. So spot trading with
one inch. So, uh, uh, trader can, will be able to expand their, uh, portfolio or, or other, you know,
token they want to, to trade on. So, so that will be without leverage, but, uh, we also saw some,
some interest from, from the community to have sport, uh, sorry, spot, uh, vault or spot portfolio,
basically. Um, so that will attract another user, uh, another trader base, uh, who don't want to touch
leverage, for example, and, uh, a lot of feature about the trading engine. So that's, that's where
you, you know, you can trade like you would on, on GMX. So we have some trading feature. I can't
review it yet, but, uh, yeah, that was already announced in the, you know, STIP proposal. So,
yeah, so some take profit and stop loss drag and drop feature. So that will be easier for,
for trader to have a sex, like, you know, some tragic changes, like experience on a decentralized
exchange. So that's what we are aiming to do. Uh, adding the social layer. I didn't touch on a lot,
but adding the social layer on, on the depth. So you can, um, grow and communicate with your
community. So we have some, some, some really interesting stuff to plan, but I can't, I can't
give too much alpha on this one. And yeah, basically rolling out all, uh, the, the partnership
that we made and we've, uh, other products option. And, uh, I think that's, that's basically what,
you know, we will roll out in the, for the next quarter is running out feature attracting trader,
attracting investor and, and gather all the feedback that we can from the community, uh,
uh, you know, really to, to improve the product because at the end, uh, we are not, you know,
developing a product just for us, just to be proud of. We want to develop a product that the community
and that the user want to use. So that's, that's how we are reasoning is we take any feedback really
seriously because if you run one, if, if you have one feedback from one user and maybe as we always
say, maybe nine other users were, you know, having the same feedback, but you know, didn't have time
or didn't bother just to, to write on the discord. So that's, that's how we work, uh, at Perpi and
that's how also we'd like to, to do things to really have an edge and a big differentiator
I see. I see you guys are, are cooking. Fantastic. Yeah. Well, to be honest, I'm very sad to see,
to see, to see, to keep continue and keep seeing that growth and, and yeah, that what the world to
see what you do there. So yeah, congratulations and congratulations on the launch of Perpi Finance
or the, the live versions. Cool to see it.
Yeah. Thank you. Thank you. Now the, we are really exciting to see what's coming and we have a lot,
we have a lot of stuff coming and maybe just one thing. So, uh, for trader who are listening, we are
currently, we just launched yesterday a trading competition with, with a good price. So if trader
just want to, to open Perpi and start, you know, start trading if they want to win that prize. And
also maybe one, one interesting thing is that we, uh, we post, uh, one week ago, I think, uh, yeah,
last week we post also our STIP proposal for one, two. So if people and users want just to, to go on the
Arbitrum forum and have a look, I think that's also something I recommend to, to stay update is
go on the Arbitrum forum. There is always some really interesting discussion there. So, so, so yeah,
that's, that's, that's, that's something worth checking out.
Ooh, nice. Many opportunities in the perfect, with the, with perfect finance. So nice,
fantastic. Well, I'm wondering if you would like to share something else to the community current
we have, we're about to finish this AMA. Uh, so yeah, maybe a call to action for them or besides,
besides the, the, the competition. I think, you know, check, check our followers, check our Twitter
and open our discord, ask your question, try the DAP. Don't, you know, don't be shy. If you have any
comments or if you are, you know, facing any problem during your Perpi journey, if I can say that,
just, just, just tell us, ask the community and tell us. So as I said, we take really any feedback
seriously. So yeah, check us out, try the DAP, open the discord. I think that will be the, the,
the free call to action basically.
Great, great, great, great. Well, thank you very much for joining us today. It was a
great AMA and, and yeah, very happy to hear what you're building in Perpi Finance. And thank you
everyone who joined us. Thank you, Arbinauts, for always, uh, join, join us to these AMAs to
hear more about the people and all the projects, projects that are building the entire ecosystem. So
see you in the next one. Thank you, Anna. See you again.