By
Chimamanda U. Martha
May 6th, 2024
Binance introduced 8th IEO on its Launchpad platform. Dubbed Perlin, the project is a scalable smart contracts platform, which aims to transform and accelerate the $11 trillion global trade market into a completely digital, autonomous industry.
Crypto exchange Binance is working towards introducing new crypto projects to the market through its dedicated IEO platform, the Binance Launchpad. In yet another exciting announcement, Binance has announced its next Launchpad project dubbed Perlin.
The Binance Launchpad platform will conduct the Perlin (PERL) token sale through a lottery and airdrop format. To be eligible to claim the tickets of the Perlin (PERL) token sale, Binance will record the users’ BNB balances starting August 9. Furthermore, the platform will record the BNB balances for a period of 15 days up to 23 August.
Using the Daily Average BNB Balance calculation, the final count of BNB holding for each user will be determined by the average of the 15 days. The Launchpad session will split a pool of 3,874,500 PERL tokens and later airdrop to all the launchpad participants that do not have have a winning ticket. Binance has further explained the complete token distribution process in its official blog post. It further states:
“Users will be able to claim up to a maximum of 10 lottery tickets based on their daily average BNB holdings (represented by X below) over the 15-day period leading up to the lottery draw date”.
Details About the Perlin Platform
As Binance describes, Perlin is a highly scalable smart contracts platform with a Proof-of-Stake mechanism. The PoS protocol doesn’t use any delegation or committee which allows it to have strong security like the Bitcoin network along with speeds comparable to the private chains.
The platform attains a “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”.
The ultimate goal of the Perlin platform is to transform and accelerate the $11 trillion global trade market into a completely digital, autonomous industry. To achieve this, Perlin has joined hands with some of the global trade partners like the Dubai Chamber of Commerce, Enterprise Singapore, and the International Chamber of Commerce.
While in the case of Perlin, Binance has also announced the holding, it has recently tweaked some IEO rules on its Launchpad platform. Binance has already intimidated that for the upcoming launches, the holding period of Binance Launchpad may begin prior to the actual start of Binance Project – with no official notice, clearly. The rule notes:
“Going forward, the BNB holding period may start before each Launchpad Project is initially announced. For example, if the 8th Launchpad project is initially announced on August 7th with the final BNB holding date set on August 13th, that would mean the BNB holding period started on July 30th.”
On July 31st, Binance successfully completed the lottery draw for the WINk token. You can read more details about the same, here.