Over the past few months we’ve been working closely with Perpetual Protocol to design a framework for Private Markets for the protocol. For the context of this piece, we’ll refer to Private Markets as perpetuals markets that can be deployed on the Perpetual Protocol in a permissionless way. These markets would coexist and complement the current markets deployed on Perpetual Protocol (which we’ll refer to as Public Markets).
The process of designing the Private Markets framework, however, required us to first take a step back and review the high level architecture of the whole system. Thus, this proposal will be divided into two parts:
- In the first one, we’ll go through our proposal for the high level architecture of the system and how the Public Markets would work under this new architecture. We see this first part as a prerequisite for understanding the rationale behind the Private Markets framework.
- In the second part, which will be published at a later date, we’ll explore the Private Markets architecture.
Below you will find a PDF and a video walkthrough of the first part of the proposal. If you’d like to get involved in the discussion on the Perpetual Protocol governance forum you can do so here.