> For the complete documentation index, see [llms.txt](https://coinone-1.gitbook.io/coinone/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://coinone-1.gitbook.io/coinone/products/perpetual-contract.md). # Perpetual Contract ## What can you do on the perpetual agreement? .Go long and short various assets (including BTC, ETH, DOT, SNX, YFI, etc.) .Leverage trading up to 10 times .Transaction with low gas fee (BSC chain) .All transactions are 100% on-chain transactions .Transactions are 100% non-custodial Before you start trading, you need to enter the perpetual agreement exchange link above. ## You will need: .Wallet (support multiple wallets, click here) .BNB on BSC ..Trading skills! . Deposit BNB and start trading! Overview ![](/files/-Mj8aE_13os9Tr540dtb) Perpetual agreement is a decentralized perpetual contract agreement that supports any asset, implemented by a virtual automated market maker (vAMM). Like Uniswap, traders can directly use our vAMM to trade without a counterparty. vAMM sets the predictable price of the transaction target through a constant product, thereby ensuring liquidity on the chain. In addition, vAMM is also designed as a market-neutral and fully mortgaged mechanism. CONE holders become pledgers by placing the CONE tokens they own in the pledge pool. In return, the pledger will receive part of the transaction fee in addition to the pledge reward. ## Project vision Our goal is to create the world's best, easiest and safest decentralized financial derivatives platform. This vision combines the status quo of the "DeFi Lego" industry and will fully collaborate with other excellent DeFi projects. There is a Utility token CONE in the perpetual agreement ecosystem, which has been given incentives for ecological participants, community users, developers, partners and other rights, and will therefore be used to bond the various collaborators in the perpetual agreement Adhesiv。 ## What is virtual automated market maker vAMM Unlike many DeFi protocols that use AMM for price discovery and Token exchange, including Uniswap and Balancer, perpetual agreements use a constant product curve only for price discovery, so as to deal with the current market leverage status. Based on this difference, we named our AMM "Virtual AMM (vAMM)". ## Core features .10 times leverage perpetual agreement Traders can trade any asset with up to 10 times long or short leverage, transparent fees and 24/7 sufficient liquidity. ## **.**Quick opening and withdrawal Using the CONE wallet, you can think about connecting to the perpetual agreement and perform perpetual contract transactions on your favorite targets. The assets are extremely safe, and the coins can be withdrawn smoothly even if the front end of the agreement is down. ## **.**Perpetual contract transactions can be performed on any asset in a perpetual agreement Regardless of gold and silver, legal currency, or digital currencies including BTC, ETH, and BEP-20, they can be long or short with a leverage of up to 10 times. ## .Lower slippage than other AMM Users always complain that the transaction slippage in the DeFi protocol of the AMM mechanism is higher than that of the centralized exchange. The main reason is that the constant product of x\*y=k in the AMM product is restricted by liquidity. The vAMM mechanism of the perpetual agreement can set a k that can provide a smaller slippage through an algorithm. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://coinone-1.gitbook.io/coinone/products/perpetual-contract.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.