Binance Offers Details on Protocol and Economics of New IEO – Perlin (PERL)

Binance Offers Details on Protocol and Economics of New IEO – Perlin (PERL)

Binance Research has published a detailed report on the newest addition to their Launchpad. Perlin is a decentralized protocol that utilizes the Proof of Stake (PoS) consensus protocol to offer high throughput and zero-confirmation transactions. The network is targeting international trade and has been endorsed by the likes of the International Chamber of Commerce and Enterprise Singapore amongst others, August 7, 2019.

Network Overview

The project claims their network can achieve a massive throughput of 31,000 transactions per second (TPS) through the use of a consensus method revolving around a customized directed acyclical graph (DAG).

A huge advantage here is the integration of developer-friendly SDKs and WebAssembly smart contracts, which allow developers to code in any language they are comfortable with.

The native token will be utilized to pay for transaction fees, smart contract fees, and staking for a validator node. Partnerships with a government think tank in India and a telecommunications company in Indonesia are their current marquee projects.

From a dApp perspective, they will partner with one of the largest marijuana producers in the U.S. and Canada.

Nodes communicate with each other through a method called “gossiping.” In this process, nodes update one another with new transaction data on their graph until they are undeniably identical. Transactions are finalized in the “querying” process where the classifies node graphs through a bottom-up approach to enhance consensus.

Token Economics

Total supply for PERL will be close to 1.033 billion while the circulating supply post IEO will be approximately 262 million tokens. Apart from the seed sale, the largest chunk of tokens will be allocated in strategic sales, most likely to partners and companies the project works with.

PERL will be launched on the Ethereum network as an ERC-20 token and will likely migrate to a proprietary network in a year or so.

44 percent of the total supply will be allocated to the team, advisors, and projects treasury. Effective market float of 66 percent makes it a lot less market-oriented than most major protocols, barring EOS. This is not necessarily a bad thing as it puts advisors and developers skin in the game to successfully grow the network.

As of now, the token doesn’t trade on a platform and has no liquidity apart from Binance (after the IEO). With Coinbase considering support for strong Binance Launchpad projects, Perlin could see a major rush of liquidity if they are able to prove their mettle.

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Ashwath Balakrishnan

Ashwath is a financial market and technology junkie. He is a cryptocurrency investor, trader, and enthusiast. He has expertise in market psychology and explaining complex technology in a simple way. He aims to battle misinformation in the cryptocurrency space.