<aside> 💡 This Page is Public

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Overview

<aside> 💡 “Lugia” is the internal code name for PERP v3

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Architecture

• Source code: https://github.com/perpetual-protocol/perp-contract-v3
• Commit: 8b850742b29ef6cc93d0988dc6eff91506972111

Roles

• Governance admin: can upgrade contract, adjust risk param, deploy new maker and list new market…etc
• Traders: required to deposit margin to engage in leveraged trading.
• Liquidators: liquidate risky positions at a discounted price.
• Liquidity providers: deposit assets into maker vaults and earn yield. Yield comes from borrowing fee and taker’s PnL.
• Order relayer: the permissioned keepers to match orders from a off-chain order book and makers. Incentivized by relay fee and the information of order flow.

Multicaller

LibMulticaller has been introduced into the application to provide users with more flexible operations.

• https://github.com/vectorized/multicaller

Oracle System

In the protocol, we rely on oracle prices to calculate account value and for liquidation. The Pyth Network is adopted as the source for oracle prices. To avoid front-running issues, most actions require two steps to execute, or via a trusted off-chain service to relay the tx :