TL;DR

• PERPS is a token on the Base network at 0x61e39a8338d6049db936534596f29ec26ff5ae7a, reportedly tied to a community project dubbed “PerpsDAO.”
• It is not the same as Perpetual Protocol’s PERP token. Always verify contract addresses before trading.
• Trading activity is primarily on Base via Uniswap V2 (PERPS/WETH pool). For discovery and execution, you can also use GMGN.AI.
• Public documentation on PerpsDAO is limited; treat this as a high‑risk, speculative asset and perform thorough due diligence.

What is PERPS on Base?

PERPS is an ERC‑20 token on Base, an Ethereum Layer‑2 built with the Optimism OP Stack. Community sources associate it with “PerpsDAO,” a project thematically aligned with perpetuals/derivatives on Base. While the name suggests a derivatives focus, details about team, roadmap, audits, and protocol design are sparse in public channels.

• Contract: 0x61e39a8338d6049db936534596f29ec26ff5ae7a
• Standard: ERC‑20 on Base

Because information is limited, consider PERPS a speculative token unless/until official documentation clarifies its utility (e.g., governance, staking, fee sharing).

Don’t Confuse PERPS with PERP (Perpetual Protocol) or perps.tech

Several similarly named assets exist. Key differences:

• Perpetual Protocol (PERP) is a well‑established perpetuals DEX whose token lives on Ethereum/Optimism. Official Ethereum token: 0xbC396689893D065F41bc2C6EcbeE5e0085233447. More at perp.com.
• perps.tech (PERPS) exists on Ethereum and Base under different contracts unrelated to the PERPS at the address above.
• The PERPS discussed here is the Base token at 0x61e39a8…5ae7a, reportedly associated with PerpsDAO.

Always match the exact contract before interacting to avoid costly mix‑ups.

Trading, Liquidity, and Tools

• Primary DEX: Uniswap V2 (Base) with a PERPS/WETH pool. A commonly referenced pool on Base is visible via GeckoTerminal for live liquidity and volume snapshots.
• Discovery and execution: GMGN.AI PERPS page provides real‑time trading, smart‑money signals, and safety checks tailored for Base meme/long‑tail tokens.

Notes:

• Prices, volume, and liquidity change rapidly on-chain. Cross‑check on BaseScan and aggregators like GeckoTerminal before acting.
• Slippage can be meaningful on smaller pools; set limits carefully and confirm tax/transfer rules.

Snapshot Metrics (subject to change)

Community snapshots have cited:

• Price near $0.00205
• 24h volume around $291K
• Liquidity near $140K in the PERPS/WETH pool

Treat these as indicative only; verify current data on-chain or via the links above before trading.

How PERPS Fits in the Base Derivatives Narrative

Base has become a busy hub for DeFi and speculation thanks to low fees and fast finality. Derivatives activity on Base is anchored by projects like Synthetix’s Perps V3, which introduced:

• Unified margin systems
• Expanded collateral options (e.g., USDC, sUSD, sETH, sBTC)
• Streamlined liquidations

There’s no confirmed direct link between PerpsDAO and Synthetix, but PERPS clearly leans into the perpetuals narrative that has gained traction across Base.

Key Risks and What to Verify

1. Documentation gap
   • Limited public info on PerpsDAO makes it hard to gauge team, audits, governance, and token utility.
2. Name collision risk
   • Multiple “PERPS”/“PERP” tokens exist. Interact only with the intended contract: 0x61e39a8338d6049db936534596f29ec26ff5ae7a.
3. Liquidity/volatility
   • Smaller pools can mean high slippage and sharp price swings. Use limit orders or conservative slippage.
4. Smart‑contract and market risk
   • Check if the contract is verified and audited on BaseScan. Review holder distribution, mint/blacklist functions, and tax/transfer logic.
5. Regulatory uncertainty
   • Derivatives‑themed tokens can attract regulatory attention in some jurisdictions.

DIY Due Diligence Checklist

• Confirm the contract on BaseScan: code verification, owner privileges, mint/burn controls.
• Review liquidity and volume on GeckoTerminal.
• Inspect holder distribution and recent large transfers in BaseScan.
• Look for an official website, GitHub, or docs to verify team credentials and roadmap.
• Start small; use fresh wallets; never trade what you can’t afford to lose.

How to Get Started (if you proceed)

• Add Base to your wallet (e.g., MetaMask) and fund with ETH bridged to Base.
• Double‑check the token contract: 0x61e39a8…5ae7a.
• Trade on:
  • Uniswap V2 on Base via the PERPS/WETH pool (verify the pool link you’re using)
  • GMGN.AI PERPS page for real‑time analytics, smart‑money tracking, and execution
• Set conservative slippage; confirm no unexpected taxes.

Useful Links

• Contract on Base: BaseScan token page
• PERPS/WETH liquidity view: GeckoTerminal pool
• Perpetual Protocol (PERP) reference: perp.com
• Synthetix Perps V3 explainer: Synthetix blog
• Trading and analytics: GMGN.AI — PERPS on Base

Disclaimer: This article is for informational purposes only and not financial advice. Crypto assets are volatile and risky; always do your own research.