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Binance Launchpad All Set to Launch Perlin Network Today

Yesterday, the Founder and the CEO of BinanceChangpeng Zhao announced about the new changes in the rules for Binance Launchpad. On the Twitter post, CZ also mentioned about the next exciting project of Binance- the token sale on Binance Launchpad of ‘Perlin’ (PERL). Binance Launchpad targets transformative blockchain projects. Perlin is its 8th blockchain project of 2019. Perlin is a startup company from Singapore that is backing this project. It focuses on developing ‘Wavelet distributed ledger.’ It makes use of ‘leaderless proof of stake’ consensus mechanism for developing decentralized applications (dApps). The company aims to offer the fastest public blockchain. It targets to achieve the capacity of-

[…] processing over 31,240 payment transactions per second and finalizing transactions in 1-4 seconds across millions of nodes.

Perlin has obtained impressive partnerships with big names such as the Singapore government and has received investments from companies such as- Kakao Investments, @arringtonXRPcapl, & @BITMAINtech.

Perlin (PERL) the token and its details as per the token sale-

As the name suggests the token’s official name is Perlin (PERL). This brand new token will be used as an ERC 20 asset, as per the announcement made by the platform. The token sale will follow the same lottery and airdrop format. The hard cap that has been decided for this launchpad is 6,700,000 USD, whereas the total token supply will be 1,033,200,000 PERL. The entire number of tokens that have been allocated to Binance launchpad is 86,530,500 PERL, which makes 8.38 percent of the total supply of the PERL supply.

Other details about the token include the cost of the public sale token, which is- 0.07743 USD. One should note that the price of the token which will be considered in the token sale will be the one just before the lottery draw.

The maximum number of winning lottery tickets is 13,400 tickets. The winning ticket will be getting 500 U.S. Dollars, which is almost equal to 6,457.45 PERL. On the other hand, the entire airdrop pool will consist of 3,874,500 PERL, which is almost equal to 300,000 U.S Dollars. As per the official announcement by the platform, the PERL token sale will take place after a lottery and the airdrop. Also, the user BNB token balances will get recorded n 15 days period.

When will PERL token sale start?

The PERL token sale will start from today, i.e. 8th August at 00:00 HRS (UTC).

So, what are the new changes in the lottery rules?

Binance has made a few changes in the rules, they are-

  • The BNB balances will be recorded for 15 days. For instance, a 15 days period will start from 8th August 00:00 HRS (UTC) to 24th August 00:00 HRS (UTC).
  • The average of these 15 days will be used for calculating the final BNB holdings for the user. The daily average BNB balance will be used in this calculation.
  • From now onwards, there will be 10 levels for the number of tickets that can be claimed, and for calculating the BNB amount associated with them.
  • The amount of airdrop pool is 3,874,500 PERL, which is almost equal to 300,000 U.S Dollars.
  • The airdrop amount will be divided and accordingly distributed to the winners of the lottery draw.

The PERL Airdrop Explained-

As mentioned earlier, the amount of airdrop pool is 3,874,500 PERL, which is almost equal to 300,000 U.S Dollars. This amount will be divided and distributed to the winner of the lottery draw.

How much amount of airdropped PERL will go to a non-winner ticket will be calculated as per this formula-

Amount of airdropped PERL will go to a non-winner ticket=

Number of non-winning tickets held by each non-winning participant / Total number of non-winning tickets across all non-winning participants) x Total Airdrop Pool.

Please note that the winners of the lottery draw will obviously not be eligible for this airdrop.

The Lottery details explained-

  • From 8th August 00:00 HRS (UTC) to 24th August 00:00 HRS (UTC), hourly snapshots will be used to calculate the user BNB balances for the period of 15 days. The average daily BNB balance will be then used to calculate how many tickets a user can claim.
  • On 24th August 06:00 HRS (UTC), the eligible users will be allowed to claim for their tickets. The time window for this will be open for only 24 hours. The users can claim for the tickets only once. A ‘Token Purchase Agreement’ is required to be signed by the user in order to complete the claim.
  • On 25th August 06:00 HRS (UTC), the lottery draw will begin, and the claiming time will be closed.
  • On 25th August 08:00 HRS (UTC), the winners of the lottery draw tickets will be announced. Accordingly, the BNB will be deducted from the respective user’s accounts. For this reason, it is advised to all the participants to make sure that they have satisfactory BNB amount in their accounts if they win the lottery draw.
  • On 26th August 08:00 HRS (UTC), the PERL tokens will be airdropped to all the participants who have not won the lottery draw.

Lottery Tickets Explained-

The maximum number of lottery tickets a user can claim is 10 tickets. This will be calculated based on the average BNB holdings. As mentioned above, the time period in which the average tokens will be calculated will be 15 days. For a detailed explanation on how the number of tickets will be calculated, please refer to the official website of Binance. The average BNB Holdings calculations are also given on the same website.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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