Two weeks later the value of Perpetual Protocol’s OP grant is just under $14 million. The liquidity incentives have failed to attract liquidity, the TVL has actually decreased in this time:
The airdrop is actually worth two thirds of the total value of Perp’s TVL. You may just as well have bought Perp as a going concern, I doubt you would have even paid anywhere near this figure.
There are platforms that did not receive a single OP which have flipped Perp in TVL - PoolTogether for instance.
So, despite incentives being offered of 5000 PERP and 5000 OP per week (the few users the platform has were actually sold 15,000 OP / PERP per week but this was cut down), why has there been no liquidity gained? Because the majority of the liquidity on this platform is owned by the team as pointed out by @crypto_noodles on twitter. These rewards are just washed into team wallets.
The team wallets which had claimed the retroactive airdrop posted above have also not had much movement. Some bought OP back, some are still sitting in USDC and some just moved funds to random places.