onePERL‌ ‌for‌ ‌one‌ ‌Earth‌ ‌

CY Tan
Published in
4 min readAug 10, 2021


In anticipation of the formal launch of the platform, is partnering with ICHI to launch our own governance token with stable value. This article aims to provide more information on why onePERL is needed and how it benefits the community.

Summary’s vision is to create a more efficient, equitable and open marketplace and economy for everyone, including with real-world ecological assets. We want to encourage participation using natural asset projects and the protection of the environment and our Earth.

onePERL as a community coin with stable value will be the cornerstone for this community. onePERL can be used for settlement, operating costs, helping to diversify the team treasury, providing liquidity, and building the community. aims to leverage on ICHI’s Decentralized Monetary Authority (DMA) to issue onePERL including, but not limited to, for the following purposes:

  • Continual carbon offset by holding onePERL
  • Decentralised carbon projects accelerator (in the form of grants)
    - For use as collateral under UMA for milestone-based rewards
    - Donate carbon credits obtained by staking onePERL to projects, and get recognized for the contribution
  • For use by projects onboarded by
    - E.g. an NFT project incubated under may use onePERL .
  • For use as collateral under UMA for creation of synthetic assets

The use cases above will be described with flow charts below.

The diagram above describes the fund flow, where users deposit 1 USD worth of token, in the ratio of 100-x% of USDC, and x% of PERL token to mint 1 onePERL. The USDC in the vault will then be deposited to AAVE deposit pool, or deployed in accordance with strategies chosen by the community members.

Note: ALL spendings from the onePERL treasury should be in the form of onePERL minted with USDC & PERL from the treasury, instead of direct USDC or PERL withdrawal from the onePERL treasury.

The proceeds from depositing the USDC will be deposited into the onePERL treasury where the community can choose to distribute among the 3 pools. The pools do not need to be a separate smart contract or implemented on-chain, but serves as a reference value for the community:

1. Grant Pool
The grant pool aims as a reserve for carbon deep tech, or offset projects with the aim to reduce carbon or other greenhouse gases in the atmosphere.

Projects who are interested will need to submit a proposal and upon successful application, there may be a one-time onePERL distribution, and the remaining onePERL will be locked in a UMA EMP/KPI options contract, where the project team submits a claim upon achieving the milestones.

2. Carbon Offset Pool
The onePERL will be used to acquire pCO2 from a pCO2 liquidity pool, where the pCO2 will be distributed to pCO2 holders or pCO2 stakers. They may choose to keep the carbon credits themselves or donate these to any project team/charity organization and may be rewarded by the project team/charity organization.

The diagram above shows that the fund allocated to the offset pool is used to purchase pCO2 from onePERL/pCO2 liquidity pool, which is then deposited into a SushiSwap masterchef style staking contract, and claimable pCO2 is calculated on a per-block basis.

The diagram above shows that the fund allocated to the offset pool is used to purchase pCO2 from onePERL/pCO2 liquidity pool, which is then streamed to the Grantee using sablier protocol. The stream can be cancelled by the onePERL treasury. The Grantee may tokenize any sort of reward which is claimable by onePERL stakers.

Note: Depending on the nature of the reward decided by the project team/charity organization and local regulations, there may be a need to perform KYC on the participants redeeming the reward.

The staking contract may have a deposit or withdrawal fee, or some form of penalty if onePERL is withdrawn within a short period of time after deposit.

3. PERL Buyback and Lock Pool
onePERL can be used to buy back PERL and the PERL will be deposited into the onePERL treasury. This has the similar effect of converting PERL in the treasury into USDC.

Note: onePERL treasury will be regulated by onePERL holders. PERL keeps its current functionality.