PerlinX — V.1 Launch Results
Report on the 1st Week of Liquidity Pools & Incentives Program
1ST WEEK RESULTS
After a successful launch and strong positive reception from existing PERL token holders and new users, here is a breakdown of the key metrics from our low-key 1st week of PerlinX and the incentives program:
Peak APY: 1143.93
Average Daily APY: 329.03%
- Total Value Locked: 1.8 million USD
- Cumulative Volume Traded: $731,121 USD
- Rewards Paid Out: 1 million PERL
- Gas Prices: were in the range of $20-$60 due to congestion on the network. We are working on solutions to help bring these costs down, including paying out rewards on a weekly basis going forward and other possible mechanisms. A bug was also identified and fixed that previously caused the gas fees to be disproportionately high when PERL staked amounts had too many decimal places.
- Minimum Staked PERLs: Based on the average gas prices over the last week, users needed to stake and lock approx 50k PERLS to receive a positive yield.
NEW INCENTIVE REWARDS — PERL, BAL & UMA
PERL: We have also reviewed the incentives paid out last week and taken into account user feedback. Watch our channels closely for announcements soon on possible changes to the reward amounts to help drive greater participation.
BAL: PERL was whitelisted on Balancer this week and BAL token rewards are now paying out on PerlinX . BAL rewards earned for staking and locking will be automatically paid to users after each snapshot and rewards are claimed.
UMA: the UMA community will vote on PERL as a collateral asset & related price identifier next week. Once accepted, PerlinX users will be able to mint synthetic assets (PxAssets) and earn additional UMA token rewards with the launch of V.2 soon.
DASHBOARDS
A very cool Community Dashboard was created by our supporters to provide a live feed of the PerlinX vital stats. The team will be launching a handy new PerlinX Dashboard next week, which you can use to check our progress and key metrics.
IMPROVED USER GUIDES
For everything you need to know to use PerlinX, see our continuously updated User Guides here:
PERL Swap Guide for converting any legacy PERLs you have to the upgraded DeFi-friendly PERL. This includes instructions for wallets including: Metamask, imToken and Trust Wallet.
Providing Liquidity Guide for participating in our liquidity pools.
Stake and Rewards Guide for staking, locking and claiming rewards.
For any other questions you may have, check out our PerlinX GitBook and FAQs, which are regularly updated to add commonly asked questions from users and community.
OTHER UPDATES
Security Audit Report: The rigorous testing and audit of our smart contracts by the stellar Quantstamp team is now publicly available.
New PERL 9:1 Liquidity Pool: Based on token holder demand, we will soon be adding a liquidity pool that allows users to stake PERL at a higher 9:1 ratio.
Binance Research Report on PerlinX: Has now been updated to reflect the focus on DeFi. Binance has also published a helpful beginner’s guide to DeFi Yield Farming with most of the basics.
INVITING USER FEEDBACK
We’ve been closely monitoring how the PerlinX performs in the wild to identify potential issues. We’re also continuing to gather valuable user feedback to help us further refine and improve the UI/UX. Critical improvements are being implemented as we go and other exciting new features (like asset minting functionality using UMA Protocol) are being added with V.2 launch in coming weeks.
If you have any suggestions or other feedback, join the discussion on our Discord Channel. Our mods are actively collating your comments on how we can keep improving PerlinX.
LINKS
Stay tuned for more updates and announcements on our channels:
Twitter | Discord | Telegram Announcements | Telegram Discussion
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