logoPerlin (PERL)

A leaderless, proof of stake smart contract platform


Issuing Price$0.07743 USD
Initial Circ. Supply261,737,112 PERL (25.33%)
Total Supply1,033,200,000 PERL
Project Websitehttps://www.perlin.net/


  • 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.


  • 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.


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.


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.



Token NamePERL
Token TypeERC-20 at TGE
Seed Sale Allocation20% of tokens
Seed Sale Token Price$0.06
Seed Sale Date Completion31/01/2018
Amount Raised Seed Sale$12,398,400
Strategic Sale Allocation19.49% of tokens
Strategic Sale Token Price$0.12
Strategic Sale Date Completion31/05/2018
Amount Raised Strategic Sale$24,164,482
Private Sale Allocation8.36% of tokens
Private Sale Token Price$0.20
Private Sale Date Completion31/07/2018
Amount Raised Private Sale$17,275,104
Public Sale Allocation8.38% of tokens
Public Sale Price$0.07743
Public Sale DateAugust 2019
Amount to Raise Public Sale$6,700,000
Initial Circulating Supply261,737,112 (25.33%)

Token Supply Distribution:

  • Seed Sale tokens comprise 20% of total token supply.
  • Strategic Sale tokens comprise 19.49% of total token supply.
  • Private sale tokens comprise 8.36% of total token supply.
  • Public sale tokens comprise of 8.38% total token supply.
  • Team tokens comprise 15% of total token supply.
  • Advisors token comprise 9.65% of total token supply.
  • Treasury tokens comprise 19.12% of total token supply.

Seed Sale Overview

  • Conducted in January 2018 and raised a total of ~$12.4MM at ~$0.06 per token, selling 20.0% of 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 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 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 total token supply. PERL/BNB exchange rate will be determined prior to day of sale.

Token Governance & Use of Funds

As of 1 August 2019, Perlin has a runway of 6 years and spend is projected to be:

  • 65% Development
  • 25% Team (business development, marketing, finance, admin)
  • 10% Other

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.

Token Overview & 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.


Planned DateMilestoneActual DateTimingComments
2018: Q3Consensus Mechanism Implementation (Avalanche)2018: Q3On timeMedium
2018: Q4Whitepaper release2018: Q3EarlyMedium
2018: Q4Testnet Client release2018: Q4On timeMedium
2019: Q1Closed release of Clarify traceability and anti-counterfeiting applications2019: Q1On timePerlin Clarity
2019: Q1New consensus mechanism2019: Q2LateDelayed due to change in Wavelet features Updated Whitepaper
2019: Q2Noise V2 releaseIn ProgressLateDelayed; waiting for audit report
2019: Q2Public Testnet Release2019: Q2On timeWavelet

Updated Roadmap

Q3 2019

  • Release Wavelet Testnet V0.2
  • Open the testnet to public validators and staking

Q4 2019

  • Release updated client
  • Release Wavelet Testnet V0.3

Q1 2020

  • Release Wavelet mainnet
  • Release Trade Application Layer and Perlin Trade Toolkit

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.


Perlin currently has 26 team members with 12 developers, 2 product managers and 2 designers. The full team can be found here.

Dorjee Sun
Project Lead
Serial Entrepreneur with 20 companies (2 acquisitions and 4 exits). Advisor to AirBloc, Loki Network, Republic Protocol, Virgil Capital and others.
Kenta Iwasaki
Won over 20 International Hackathons, Ex-Head of Research at Naver, 2 startup acquisitions, Over 40 well recognised open-sourced projects.
Ajay Prakash
Ex-Global Marketing & Product Executive, 8 Startups (Forbes 30U30), ex-marketing at REN, BSc Physics / Engineering.
Roy Keene
VP of Engineering
Consensus and DAG Specialist. Ex-Lead Developer at Nano and IDEX. 2 decades of experience in distributed systems and software solutions.
Darren Toh
Head of Communication
Former Head of Communications at Republic Protocol and BlockPR, Federal Investigator, and Assistant Director at the Australian Competition and Consumer Commission.
Jo Hyunh
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.



PERL token is not actively traded as of publish date of this report - the token will be available through the Binance Launchpad portal.


Perlin has a total of 18 public and 24 private repos.

GitHub Overview

Top Public GitHub Repositories


Code for Wavelet network

11 Contributors1,252 commits

A decentralized P2P networking stack written in Go

10 Contributors829 commits

A secure WebAssembly VM catered for decentralized applications

12 Contributors271 commits

The official network explorer for Wavelet

7 Contributors509 commits
Smart Contract RS

Write WebAssembly smart contracts for Wavelet in Rust

5 Contributors86 commits

Private GitHub Repository


A provenance solution that was built for Asia Pacific Rayon

7 Contributors1,472 commits

Product & asset authentication on a transparent, verifiable, and immutable decentralized database

2 Contributors97 commits


Wavelet ledger

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


Protocol Overview

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.

Animation Query Protocol

Critical Transaction

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.

Partial Synchrony

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.

The Design

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.

DApp Ecosystem


  • 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.

Global Ledger

  • 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.

Smart Incos

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.



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:

  1. 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.
  2. 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.
  3. 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.

Community and Social Channels

Telegram (English) | 1.4K Members
Telegram Annoucement | 13K Members
Discord | 2.9K Members
Twitter (English) | 3.9K Followers
Medium (English) | 1.2K Members
Facebook (English) | 560 Followers
Reddit (English) | 304 Followers