A Leaderless, Proof-of-Stake Smart Contract Platform.
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Perlin attempts to pioneer disruptive decentralized enterprise tools, network platforms, and DeFi ecosystems for more efficient, inclusive and carbon-friendly global digital economies and marketplaces.
Perlin has three core business areas:
Perlin Carbon: connecting carbon markets to decentralized digital platforms and DeFi ecosystems to make fungible, tokenised carbon credits available on highly-liquid markets.
Perlin Trade: bringing international trade into the decentralized digital era by implementing value chain traceability and digitized trade documentation and work flows.
Perlin R&D: working to solve some of blockchain’s biggest deep tech challenges.
Carbon DAO, is a model for a distributed autonomous organization to operate a marketplace for tokenized carbon credits, where participants can select the projects that will generate carbon credit token. These carbon credits can then be easily purchased by individuals and institutions to offset their carbon emissions or may be traded in highly liquid digital markets.
PERL tokens will be used for voting for a Carbon Project that needs funding, by staking PERLS for the carbon credit to be generated.
1. What is Perlin (PERL)?
Perlin is a leaderless and scalable PoS smart-contract platform with a mission to power the future of decentralized technologies and accelerate the transformation of international trade to a purely digital, autonomous industry.
Some of its key elements include:
Perlin offers the first true leaderless proof of stake which allows ledgers to be run securely and efficiently.
Perlin introduces WebAssembly smart contracts with developer friendly SDKs where even existing software can be modified to become decentralised with a few lines of code.
Perlin has an equitable platform that not only promotes genuine decentralisation through a leaderless implementation like Bitcoin but removes the minimal hardware requires instilled by it, allowing nodes to run on mobile phones.
Some of its key elements include:
Perlin is a highly scalable, PoS smart contract platform that achieves throughput of 31,000+ TPS and consistently has 0 to 4 second time to finality, all of which is made possible by Wavelet, a DAG-based probabilistic consensus mechanism.
Perlin has a leaderless PoS protocol which does not use committees or delegation, thereby ensuring the security properties of bitcoin but speeds comparable to private chains.
Perlin is pursuing several adoption strategies but is currently focused on the $US 11 Trillion international trade market with its distribution partners such as the International Chamber of Commerce, Enterprise Singapore, Dubai Chamber of Commerce and others.
At its core, it features:
Leaderless Proof of Stake: a new proof of stake protocol that doesn't require committees or delegation.
Minimal hardware nodes: PERL holders will have the option of running a validator node with minimal hardware requirements (512MB RAM and 2 CPUs) and join in earning a share of transaction fees.
Commercial and market traction: Perlin is initially targeting applications in the International Trade space with endorsements from the International Chamber of Commerce, Enterprise Singapore and several other organizations and companies.
Efficient and scalable: Wavelet is benchmarked at 31k+ transactions per second and a time to finality between 0-4 seconds.
Engaged, global developer community: strong developer adoption through AssemblyScript/Rust smart-contract SDKs and two previously released libraries, Life and Noise, which have over 2,300 stars on Github and 150 forks collectively.
2. Economics and supply
2.1 Key metrics
ERC-20 at TGE
Seed Sale Allocation
20% of tokens
Seed Sale Token Price
Seed Sale Date Completion
Amount Raised Seed Sale
Strategic Sale Allocation
19.49% of tokens
Strategic Sale Token Price
Strategic Sale Date Completion
Amount Raised Strategic Sale
Private Sale Allocation
8.36% of tokens
Private Sale Token Price
Private Sale Date Completion
Amount Raised Private Sale
Public Sale Allocation
8.38% of tokens
Public Sale Price
Public Sale Date
Amount to Raise Public Sale
Initial Circulating Supply
2.2 Token supply distribution
Seed Sale tokens comprise 20% of the total token supply.
Strategic Sale tokens comprise 19.49% of the total token supply.
Private sale tokens comprise 8.36% of the total token supply.
Public sale tokens comprise of 8.38% total token supply.
Team tokens comprise 15% of the total token supply.
Advisors token comprise 9.65% of the total token supply.
Treasury tokens comprise 19.12% of the total token supply.
###### PERL token distribution (%)
2.3 Sale overview
Seed Sale overview: conducted in January 2018 and raised a total of ~$12.4MM at ~$0.06 per token, selling 20.0% of the total token supply.
Strategic Sale Overview: conducted in May 2018 and raised a total of ~$24.2MM at ~$0.12 per token, selling 19.49% of the total token supply.
Private Sale overview: conducted in July 2018 and raised a total of ~$17.3MM at ~$0.20 per token, selling 8.36% of the total token supply.
Public Sale overview: sale will be conducted in August 2019 for a total raise of $6.7MM USD worth of BNB at $0.07743 per token for 8.38% of the total token supply. PERL/BNB exchange rate will be determined prior to day of sale.
2.4 Token governance and use of funds
As of August 1st 2019, Perlin has a runway of 6 years and spend is projected to be:
25% Team (business development, marketing, finance, admin).
2.5 PERL token release schedule
The following chart represents the number and breakdown of all PERL tokens that are intended to be released into circulation on a monthly basis.
PERL token release schedule
2.6 Token overview and use-cases
The use cases intended for PERL mainnet tokens include but are not limited to:
Payment for transaction fees.
Payment for smart contract fees.
Stake for running a validator node.
Prior to the Wavelet mainnet release, the ERC-20 PERL tokens can be used for Clarify Personal, an application which allows users to attach proof of ownership onto the Perlin blockchain.
Open the testnet to public validators and staking.
Release updated client.
Release Wavelet Testnet V0.3.
Release Wavelet mainnet.
Release Trade Application Layer and Perlin Trade Toolkit.
3.3 Commercial partnership and business development progress
National Institution for Transforming India:The National Institution for Transforming India is a think tank for the Indian Government. Together the National Institution for Transforming India and Perlin Network will build a privacy-preserving platform that will allow data holders to provide data without breaching security or privacy laws.
PT Telkom:PT Telkom is an Indonesian telecommunication company. Perlin and PT Telkom together sponsor the AI for All Global Hackathon.
Asia Pacific Rayon:Asia Pacific Rayon is a rayon viscose producer. The company has partnered with Perlin to launch the Follow Our Fibre campaign, which enables supply chain traceability.
International Chamber of Commerce ("ICC"):The ICC represents over 45 million businesses with 1.3 billion employees in 130 countries. The ICC is actively connecting Perlin to its vast members to drive enterprise adoption.
Singapore Government (Enterprise Singapore):Singapore Government is partnering with Perlin and the ICC to establish the Centre of Future Trade ("CoFT"), an open digital platform to deploy blockchain commercial pilots and drive innovation in the global commodities industry.
Dubai Chamber of Commerce:Dubai Chamber of Commerce is an exclusive distribution partner for Perlin products in the Middle East and North Africa (MENA). Under the agreement, Dubai CC will market and resell Perlin products to its members and extensive network in MENA.
ICC's Chambers Climate Coalition:ICC's Chambers Climate Coalition, comprised of 450 business chambers globally, is partnering with Perlin to incorporate blockchain solutions (e.g., Clarify) for greater sustainability and supply chain transparency.
ICC INCOTERMS 2020 release:Perlin will be developing smart contract based smart INCOs to launch with the ICC's INCOTERMS 2020 re-release. Since 1936, INCOTERMS have been used to support all global trade and the initiative will launch in September in over 20 countries.
4. Product descriptions
Wavelet is a leaderless proof of stake protocol that powers WebAssembly smart contracts and has the following features:
Scalable: under testing environment, the Wavelet ledger has been able to achieve over 30k transactions per second.
Practical: the Wavelet ledger aims to achieve 2-4 second finality with millions of nodes.
Succinct: running a full Wavelet node only requires 512MB of RAM.
The Wavelet prototcol is structured with partially synchronous communication, or namely the network runs Gossiping and Querying at the same time.
Gossiping: the process where all nodes communicate with each other and update the information of transactions on their graphs until they have the same graphs. This only happens when there aren't any new transactions made for a certain period. However, the transactions aren't finalized through this process, the next step in finalizing transactions is querying.
Querying: the querying process segments a nodes graph from the bottom-up into non-overlapping graph depth intervals called consensus rounds. The start and end point of a consensus round is marked by the depths of two individual critical transactions, which are chosen by nodes within the network through the invocation of the binary consensus protocol Snowball. The network initializes on consensus round 0, with the rounds start marked by a genesis transaction at depth 0. Transactions that exist within the overlap of any single known consensus round are considered to be finalized, and are either applied to the ledgers state, or otherwise rejected in a consistent order.
For each and every transaction created, there exists a chance that a transaction may randomly be marked to be critical based on a dynamically adjusted system parameter known as the difficulty parameter.
This chance is modelled as a verifiable random function akin to the Bitcoin's difficulty puzzle, based on the number of prefixed zero bits of the BLAKE2b checksum over the contents of a transactions sender wallet address and the transactions parent transaction IDs concatenated together.
If the number of prefixed zero bits exceeds the difficulty parameter, the transaction is considered to be critical. Hence, any adjustment to the difficulty parameter would change the frequency of how often a critical transaction comes into fruition throughout the gossiping process.
Snowball, albeit being a consensus protocol with minimal communication complexity, takes time to execute in comparison to any gossiping or message flooding protocol.
The querying process is slower than the gossiping process, to the extent where it is possible that new transactions may sprout from the gossiping process faster than the speed in which the querying process may finalize batches of transactions zoned in consensus rounds.
A remedy is to have the interval span of consensus rounds be dynamic, such that the querying process would finalize larger amounts of transactions per second when needed. The start and end of the interval is roughly determined by the frequency in which critical transactions come into fruition.
The Load Factor
In order for the network to know how frequent a critical transaction would come into fruition, Perlin developed a method known as the Load Factor, which is a consistent heuristic computable by any node across the network.
The load factor approximates how many transactions are being gossiped roughly around the network. The heuristic is derived by computing ratios over the width and height of prior consensus rounds.
By incorporating the load factor into the frequency in which critical transactions come into fruition throughout the network, the querying process is able to process larger or smaller batches of transactions in a single Snowball invocation with respect to the transactional load yielded from the gossiping process.
Wavelet utilizes 2 different consensus protocols, namely S/Kademlia for gossiping and Snowball for Querying.
S/Kademlia: S/Kademlia is the overlay network protocol for Wavelet. With its formation of De-Bruijn network topology, it allows messages to be sent easily, even if troublemakers try to drop, redirect, or delay messages. A message flooding protocol on top of S/Kademlia's reliable message broadcasting is utilized as Wavelet's gossiping protocol.
Snowball: Snowball is a protocol inspired by the snowball sampling technique, where a node exchanges information, namely the critical transaction, with neighbouring nodes multiple times in rounds. This process keeps repeating until the critical transaction being received is consistent for a large number of times specified beforehand. This protects a partially synchronous network from adversaries that attempt to jeopardize the consistency and fluidity of the network.
A traceability/provenance decentralised application allowing enterprises to trace their products to source efficiently, immutably and transparently.
Asia Pacific Rayon ("APR") is currently using this product on the Ethereum testnet.
Perlin has partnerships with several other companies who will be launching on the platform in the next few months including MFused, one of the largest marijuana producers in North America and Asiservy, a tuna company in Ecuador.
An anti-counterfeiting solution utilizing a specialized dual-QR code lock to track and analyze the opening of counterfeits.
Binance Charity and Perlin jointly initiated Global Ledger at the 2019 Annual Meeting of the New Champions, also known as Summer Davos, by the World Economic Forum in Dalian, China.
Global Ledger is a coordinated international initiative launched by a coalition of Young Global Leaders from the World Economic Forum to support greater environmental transparency and accountability using blockchain technology.
Every decade, the International Chamber of Commerce releases the Incoterms which are the rules and guidelines for international trade. Perlin, in collaboration with the International Chamber of Commerce, is looking to release Smart Incos, a platform that utilises oracle data and smart contracts to automatically track Incoterms used by trading parties.
5. Project team
Perlin currently has 26 team members with 12 developers, 2 product managers and 2 designers. The full team can be found here.
Serial Entrepreneur with 20 companies (2 acquisitions and 4 exits). Advisor to AirBloc, Loki Network, Republic Protocol, Virgil Capital and others.
Won over 20 International Hackathons, Ex-Head of Research at Naver, 2 startup acquisitions, Over 40 well recognised open-sourced projects.
Consensus and DAG Specialist. Ex-Lead Developer at Nano and IDEX. 2 decades of experience in distributed systems and software solutions.
Head of Communication
Former Head of Communications at Republic Protocol and BlockPR, Federal Investigator, and Assistant Director at the Australian Competition and Consumer Commission.
Strategy and Finance Manager
Formerly the Transformation Manager to the Chief Strategy Officer at Aviva, Ex-Macquarie Bank. 9 years in M&A and business transformation for banks/insurance.
6. Perlin's activity and community overview
Perlin has a total of 18 public and 24 private repos.
6.1 Development activity
6.2 Social and community data
Community growth strategy
Perlin has generated strong organic community development and growth that is directed at both end-users and developers focused around Perlin's upcoming distributed ledger and cloud computing marketplace.
The first phase of community development will be focused on developer education for Perlin's ledger and is facilitated on Discord with an active community of approximately 2,900 members with developers interacting with the core developer team on the publicly released libraries.
There are 3 stakeholder categories that Perlin will be growing in the near future for the community:
General community users: the general community growth will be facilitated in a telegram group where the community team will directly engage with stakeholders. Perlin will also continue to do online and in person events to engage and educate the wider audience about the ledger and dApps built on top of it.
Developer community: developer community building will occur through both online and offline interfacing, ranging from articles that provide examples of dApps built on Perlin, details on partnership collaborations with key corporations, hackathons, developer meetups and jointly co-hosted forums/conferences. Perlin has also partnered with several accelerators to support young startups and entrepreneurs to leverage off distributed ledger technology where necessary.
Validators: Perlin's validator community plan centers on ease of use to run a node on Wavelet. To become a validator on Wavelet (Perlin's Ledger), there are minimal requirements for staking, but users are required to actually run a node (unlike delegated models). Users will be able to run their nodes on devices such as mobile phones, cloud services or on simple hardware such as Raspberry Pis. In addition to specific documentation and guides for users to run node software, Perlin will also sponsor a variety of online / offline validator events designed to engage this community.