Perun state channel protocols are a set of protocols for setting up a state channels, doing off-chain transactions on these channels and settling them.
The life cycle of a state channel consists of 4 phases:
Open: Setup up the channel and deposit funds as per the initial balance.
Transact: Do off-chain transactions.
Finalize: Agree on the final state of the channel.
Settle: Reallocate the funds as per the final balance and withdraw them.
Perun protocol supports different types of channels. Description and protocol for each of the channel types is explained in the next sections.