[Discussion] Feedback and suggestions Perp

I opened this thread to initiate a discussion about the perp exchange and provide some general feedback and suggestions.

Here are some of the things I noticed:

  • Interface and integration into the existing ecosystem: Multiple users, including myself, have mentioned in other channels that the UI is getting crowded, leading to bad UX. If we want new users to use the perp exchange for swaps and trades, the trading view should be the first thing they see. In my opinion, it is time to consider creating multiple stand-alone projects, such as perp and lyf+vaults, that are part of the larger Alpaca Finance ecosystem and are governed by the Alpaca token. The interface for perp, in particular, should be streamlined, prioritize trading, and be simple to use without too many distractions (similar to GMX). Not much needs to be changed to achieve this, mainly removing components (menu-bar, etc.). See the image below for a quick example:

  • Perp fees: With the Alpaca rewards being only temporary and the Perp fees requiring manual claiming (from a different page that is not under the Perp header), why aren’t we simplifying this and making it so that it auto-compounds the Perp fees into the ALP token? For instance, we could deposit the USDT into the contract that holds the USDT balance of ALP or do some balancing with it. It seems like an unnecessary extra step from the user’s perspective.

  • Incentives: It may be a bit late to change, but why is the focus so much on liquidity? Seeing how it performs now (1m deposited with only 10k Alpaca per week), upping this to 125k seems excessive, especially since liquidity is and should not be the main focus. Getting users interested and familiar with trading and swapping should be the focus, as this will be the lifeblood of Perp and will, in return, lead to sufficient liquidity (currently at 1m, we are getting 8% APR from fees with only 10k Alpaca). I know that trading competitions and such are planned, but I hope we’re not just paying liquidity providers for a temporary boost in TVL as they will likely leave if the trading fees are insufficient after the launch.


Thanks for your suggestions.

-I will suggest to the team to add a collapsable menu on PC site, which should achieve a similar effect to the image you showed.

-Now that liquidity is available, we are in agreement that our primary goal of incentivization should be to incentivize traders. We’ve already discussed this internally. If after improving the product in beta, the utilization does not correspondingly increase, we will probably restructure our incentivization programs.


Thank you for the suggestions

I will add to Sam’s response in regard to the manual claiming vs. auto-compounding into the ALP pool for users.

The Perp’s LP pool contract structure work differently from our lending pool. For security reasons, we use accounting system to calculate users’ share in the pool instead of looking at the underlying token balance.

This means we cannot compound the $$ for users - deposited assets w/o minting new ALP token would not be recognized as additional share of the pool to users.

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Another small suggestion is to save the current token pairs in the URL so every time I reload the page I don’t have to select the token again

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Thanks for raising up this topic. only allow to attach one picture therefor i combine the image as one .
in short pop up better than switch page, TP/ST deposit/withdraw COLLATERAL need to be a clear ux style(easy to find and use it)

  1. I’ll suggest change the Perp UI particularly for Stop-lose and take-profit trade .
    That’s the key function for user to management their positions , that should need to be more user friendly, now it’s not clear enough (may be let’s say it mix under the close feature). considering how easy to trigger to make stop-lose/take-profit order; seconds one page ux would be better then forward to other page.
    take uniwhale ux as example:
    you can see the “TP/SL For Position” very clear and simple to trigger. just click on the pan icon, it will promote a pop up (insead of switch to another page) , user can easy close it just by click on the X (right top at the pop up). personally (i think make sense then the alpaca one)
    Another kind of design just like level finance , more like what alpaca idea it will inside the “close” function page . but the level finance one is more clear , look at the following picture
    when click on the “close” function , it will popup a window (instead of switch a page) , and inside the popup user can easy and clear enough to make a TP/ST order by the drop down selection.

  2. Use pop up instead of switch page for DEPOSIT or WITHDRAW COLLATERAL… uniwhale and level finance both using pop up, the use experience is better then alpaca one.
    may be team can have a try on level finance and uniwhale , that’s more user friend for Perp trader (in personally)

Hope alpaca will become better and better… i am the fans of alpaca.


Thank you for the suggestion. We will discuss this w/ our designer.

As a reference, the current design follows the same pattern we use for LYF when user edit their positions.

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I’m glad that we are now incentivizing trading, but one of the issues that I’m still seeing is that it is unclear and difficult to see what we are earning or getting back. The one-week delay makes it feel unresponsive and unrewarding. For example, with the rebates, why not make it clear immediately after 15 minutes that a rebate will be claimable in a week?

Regarding the trading incentives, I opened a position this week, but it feels like I’m not earning anything as nothing is showing. It must be made clear that something is happening and that trading is earning something. As I mentioned in another thread, something like the lyLVL token of level.finance would be an excellent fit for this. For every dollar traded, we could give each user a lyAlpaca token or an indication in the UI (it does not have to be an actual token) that the user has earned/generated x tokens and will earn a share of the reward pool.

In general, the one-week delay makes it feel unresponsive. We should make it feel more rewarding to trade with alPerp and clearly explain what is being earned within the given week.

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that’s a good topic … weekly reward is too long , may be cosidering daily reward …seeing that level finance, uniwhale even though GMX are in that way… a daily batch . something like:

In my opinion, the timeframe is not the biggest issue (although a shorter timeframe would be better). The main issue is the lack of clarity on whether something is being earned when trading or opening a position. This information is hidden too deep under the “rewards” section and is not immediately updated.

@focuspoint, yea something like that would do wonders! a simple clear UI that displays what your contribution is and an estimation of what the reward will be (we already have this information under the reward section)

or even simpler something like uniwhale:

we could also include the rebates into this banner, to make it immediately clear that in a week (or x days) y usdt will be claimable