Perennial is a DeFi-native derivatives primitive that allows for the creation of arbitrary payoff functions over oracle-provided prices. Perennial V2 offers three-sided markets (long, short, maker), which confer high capital efficiency while also providing best-in-class settlement and fees.

Zellic conducted a security assessment for Equilibria from July 24th to August 15th, 2023. During this engagement, Zellic reviewed Perennial's code for security vulnerabilities, design issues, and general weaknesses in security posture.