# Introduction

### What is perp.fun?

**perp.fun is a simplified interface for trading perpetuals, built on top of the Perennial protocol.** It’s designed to strip the complexity out of trading — no cluttered interface, no limit orders, stop losses, or advanced settings. Just long or short bluechips with a few taps.

Your trades are routed through **Perennial’s purpose-built perps rollup**, giving you near-zero fees, fast execution, and full control at all times.

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#### Features

* **Gasless trading** – Powered by Perennial’s rollup, there are no gas fees when placing trades.
* **BTC, ETH, SOL markets** – Trade up to 100x leverage on major bluechips.
* **Grow your flowers** – Each trade plants a seedling that blooms as your position thrives — or wilts when you’re close to liquidation.

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#### Signups & Wallets

perp.fun uses embedded wallets via [**Privy**](https://www.privy.io/), so you can log in with X (Twitter), Discord, email, or a traditional wallet.

That means:

* You don’t need to connect a wallet up front — it’s created for you in the background.
* You’re still in full control of your account and funds.
* This is different from **app.perennial.finance**, which uses your connected wallet directly.

**How it works: perp.fun vs app.perennial.finance**

> **perp.fun** → Log in with X, Discord, wallet → Privy embedded wallet → Trades on Perennial protocol\
> **app.perennial.finance** → Connect wallet directly → Trades on Perennial protocol

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#### Referrals

Every user gets a unique referral code. Share it with friends to earn **20% of the Petals** they generate through trading.\
Find your code in the top-right menu — copy the one auto-generated for you, or make your own.

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#### Under the Hood

perp.fun runs entirely on top of the **Perennial protocol** — a custom-built rollup for perps, using an intent-based execution model with verified solvers and a derivatives AMM under the hood.\
Trades are gasless, settled instantly, and never require handing over custody.