Perpetual Protocol Awards DeCommas 40,000 USDC Grant
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The DeCommas DeFi automation-layer has been awarded a 40,000 USDC grant from Perpetual Protocol for further development of the DeCommas Protocol The grant follows earlier awards from Mango Markets and Serum at a Riptide Hackathon, which brings the total of grant resource allocation for DeCommas protocol to 80,000 USDC in 2022.
Perpetual Protocol Grants Committee member Supernoveau comments the funding decision:
“The Basis Trade has been a staple of crypto trading for many years. Previously the domain of the sophisticated, the Grants DAO is excited to help launch the DeCommas vault to make it easy for any trader to capture delta neutral yield on their assets. Built on Perpetual Protocol liquidity, we look forward to seeing the next generation of DeFi come to fruition.”
DeCommas will be allocating the funds towards further growth of the protocol, with a strong focus on its current delta neutral strategies which show the potential for the automation-layer. The DeCommas Protocol team is on a mission to give its users access to automated yield- and ROI-generating on-chain trading strategies. By developing a blockchain-agnostic automation-layer, DeCommas enables users to run complex automations across multiple blockchains. These automations will be available through user-friendly automated vaults, as well user customizable strategy templates.
The Perpetual Protocol Grants Committee chose to fund DeCommas in particular for its work on a basis trade vault strategy built on top of Perp v2. The term ‘basis trade’ refers to any pair trade in which a trader takes on two positions that, while canceling each other out in terms of price
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