Perpetual Protocol Awards DeCommas Grant $40,000 USDC
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The DeCommas DeFi Automation Layer received a USDC 40,000 Perpetual Protocol grant for the further development of the DeCommas protocol. The grant follows previous awards from Mango Markets and Serum at a Riptide Hackathon, bringing the total grant resource allocation for the DeCommas Protocol to 80,000 USDC in 2022.
Perpetual Protocol Grants Committee Member Supernoveau comments on the funding decision:
“Basic trading has been a staple of crypto trading for many years. Previously the domain of the sophisticated, the Grants DAO is delighted to help launch the DeCommas Vault to make it easy for any trader to capture a delta-neutral return on their assets. Built on the liquidity of the perpetual protocol, we can’t wait to see the next generation of DeFi come to fruition. »
DeCommas will allocate the funds to further protocol growth, with a focus on its current delta-neutral strategies that show the potential of the automation layer. The DeCommas protocol team is on a mission to give its users access to automated on-chain trading strategies that drive performance and ROI. By developing a blockchain-agnostic layer of automation, DeCommas enables users to run complex automations across multiple blockchains. These automations will be available through user-friendly automated vaults, as well as user-customizable policy templates.
The Perpetual Protocol Grants Committee chose to fund DeCommas specifically for their work on a Perp v2-based vault strategy. The term “basic trade” refers to any pairs trade in which a trader takes two positions which, while canceling each other out in terms of price movements, generate a profit due to differences in funding costs. Historically, an example of this has been shorting ETH on Perp v2 and buying ETH on a different decentralized exchange, a strategy that has generated double-digit annualized returns with minimal exposure to Ether price volatility. .
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