# FAQs

Don't see your question answered? [contact-us](https://docs.nekodex.org/nekodex-playground/all-about-perp/contact-us "mention")!

{% hint style="info" %}
These FAQs are for Perp v3. For older versions, see legacy docs for [v1](https://v1docs.perp.fi/) and [v2](https://support.perp.com/).
{% endhint %}

## Contents

[#about-perp](#about-perp "mention")

[#trading-on-perp-v3](#trading-on-perp-v3 "mention")

[#perp-smart-account](#perp-smart-account "mention")

[#perp-token](#perp-token "mention")

## About Perp

### Where is the project based? 

Our team is located across several countries, but it was initially founded in Taiwan.

### Who do I contact for proposals (business, marketing, collaboration, listing)

Please see [contact-us](https://docs.nekodex.org/nekodex-playground/all-about-perp/contact-us "mention"). Note that we do not do listing collaborations with centralized exchanges.

### How big is the team?

The team has roughly 15 full time and 2 part time members.

### Who is on the team?

We don't have a published list of team members but the co-founders and key team members are doxxed (e.g. have appeared in public, Youtube, etc.). See more in [about-us](https://docs.nekodex.org/nekodex-playground/all-about-perp/project-overview/about-us "mention").

### Is there merch?

Yes! Please visit [https://shop.perp.fi](https://shop.perp.fi/)

## Trading on Perp v3

### How do I start trading?

Initially, Perp v3 will launch as an early access campaign called Nekodex. Read more: [nekodex-usd-o](https://docs.nekodex.org/nekodex-playground/nekodex-usd-o "mention")

### How do I deposit?

⚠️ **Do not deposit**

Perp v3 is currently in the Nekodex phase and *only* Nekocoin can be used to trade. Read more: [nekodex-usd-o](https://docs.nekodex.org/nekodex-playground/nekodex-usd-o "mention")

### I saw an error

Sorry about that! Please refresh (ctrl-F5) or Empty Cash & Hard Refresh (right-click Inspect, then right-click the browser refresh button 👇). If that doesn't work, [contact-us](https://docs.nekodex.org/nekodex-playground/all-about-perp/contact-us "mention") 🙏

<figure><img src="https://3534130831-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Ft9pvATmvHXBuirxBUKA6%2Fuploads%2Fbm3CKex6Vx4vuiV0xGXX%2Fimage.png?alt=media&#x26;token=fa5499d5-3da6-4bfd-a1ba-c92885512f31" alt=""><figcaption></figcaption></figure>

### Error: Unable to get quote for this market

There are a few possible causes:

* Network connection is unreliable/slow for some reason
* Your device hardware is struggling (too many markets with open positions, or possibly too many apps running)
* The size of your trade is too big/small (it must be worth >10 USDT and < your available collateral)

### How do I set leverage?

Each market has a max leverage, according to the [perp-contract-specs](https://docs.nekodex.org/nekodex-playground/docs-for-users/trade-perpetual-futures/perp-contract-specs "mention").

<figure><img src="https://3534130831-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Ft9pvATmvHXBuirxBUKA6%2Fuploads%2FaebcfkctJ4fIKXzh45En%2Fimage.png?alt=media&#x26;token=232c9bf9-bfd2-47cb-a58e-c592052f9163" alt=""><figcaption><p>Set yer leverage degens!</p></figcaption></figure>

### How does Perp v3 work?

Quick version [here](https://docs.nekodex.org/nekodex-playground/docs-for-users/trade-perpetual-futures#quick-start) or long version [here](https://docs.nekodex.org/nekodex-playground/docs-for-users/how-perp-v3-works).

Perp v3 is a Decentralized Exchange (DEX) built on the Optimism network that allows anyone to buy/long or sell/short various assets with up to 50x leverage. You can use the web UI or trade permissionlessly via smart contract. Perp v3 integrates multiple ways to provide liquidity with the goal of offering traders the best possible prices, and the freshest possible markets. Among various available methods, Perp v3 is starting with using oracle prices for trading major pairs like ETH and BTC, and an innovative spot-hedge LP mechanism for newly launched and lower volume markets. These liquidity strategies connect to a order router, ensuring a seamless trading experience for users.

### Has Perp v3 been audited?

Yes. Perp v3 was audited using a Sherlock campaign and has undergone extensive internal testing and audits.

### What are the trading fees?

A: See [#fees](https://docs.nekodex.org/nekodex-playground/docs-for-users/trade-perpetual-futures#fees "mention")

### Can I have multiple positions for one asset?

A: No, all positions for the same asset add together, so if you open a short and then a long, they will cancel out. For more see [#managing-your-position](https://docs.nekodex.org/nekodex-playground/docs-for-users/trade-perpetual-futures#managing-your-position "mention").

### Is there a dashboard / stats / metrics?

Coming Soon™️ 🏗️

### Why is \_\_\_ country blocked?

Due to regulatory realities and the way the internet works, we cannot offer the web UI in some countries. Make sure to follow your country's laws regarding crypto trading. Do not use VPN to circumvent our restrictions or your country's laws.

### Will there be a trading competition?

Yes! Using the Nekodex early access platform, there will be ongoing competitions. Make sure to join our [Discord](https://docs.nekodex.org/nekodex-playground/all-about-perp/contact-us) for the latest news.

### Where does liquidity come from?

*Note:* Initially LPing is limited to whitelisted accounts

Liquidity for trades is provided in different ways depending on the underlying strategy. Our goal is to remove liquidity as a concern for most traders: the Perp v3 router will chose the best liquidity source and execute the trade for you. That said, the initial two liquidity strategies provide liquidity as follows.

* For oracle price trades, each market has a liquidity pool, and trades will be made with the pool according to current oracle prices.&#x20;
* For spot-hedge trades, each market will have a spot vault similar to Hot Tub, where trades made on Perp v3 are hedged atomically with trades made between the vault and the associated spot market.

### How can I provide liquidity?

Initially LPing is limited to whitelisted market makers to ensure system stability. Pools will be opened to all market participants SoonTM, starting with oracle pools with spot-hedge pools opening next.

### What chain will Perp v3 launch on?

Perp v3 will be on [Optimism](https://optimism.io/).

### Where is the API?

Please see [api](https://docs.nekodex.org/nekodex-playground/docs-for-devs/api "mention")

## Perp Smart Account

Please see the Smart Account [#faq](https://docs.nekodex.org/nekodex-playground/docs-for-users/trade-perpetual-futures/perp-smart-account#faq "mention")

## PERP Token

For more info, see [perp-token](https://docs.nekodex.org/nekodex-playground/all-about-perp/perp-token "mention")

### What is the circulating supply?

This varies depending on how you define the circulating supply. Please see [#perp-token](#perp-token "mention") for more. The main difference in calculation methods is whether PERP locked as vePERP are counted as circulating. See various sites like Coingecko or CoinMarketCap, the team tokenomics [Dune dashboard](https://dune.com/perpetual_protocol/perp-hodl), or the Perpetual DAO [locked wallet](https://etherscan.io/address/0xc49f76a596d6200e4f08f8931d15b69dd1f8033e).

### What is the vesting schedule?

There are two categories of vested tokens, and all have been unlocked.&#x20;

* Investor tokens finished unlocking in Dec 2021.&#x20;
* Team tokens finished unlocking in Sept 2023.&#x20;

Team tokens are issued to team members on a monthly basis. Less than 10% of the team token allocation has been issued to team members.