Democratizing the trading of real-world assets through decentralized liquidity pools and synthetic asset generation
Introduction
PerlinX is a decentralized synthetic liquidity pool that supports the creation and trade of synthetic assets. In partnership with UMA, PerlinX users will be able to generate synthetic assets of any kind through the over-collateralization of PERL. At this current stage, our focus will be on synthetic commodities and cryptocurrencies.
PERL functions as both a liquidity asset and a collateralization asset.
You can stake your PERL to earn incentives and over-collateralize your PERL to create synthetic (px) assets, eg. pxOil, pxCarbon, pxGold
A liquidity incentive program will be announced shortly after PerlinX is launched to drive the formation of deep initial liquidity and is a stepping stone towards designing an effective long-term mechanism to incentivize LPs
The team is in the final stages of implementing the mechanisms needed to generate synthetic assets using the PerlinX interface. This will be launched in the coming weeks and is the team's #1 priority.
The future of PerlinX will be to narrow the gap between global legacy markets and DeFi, with more support for commodities and digital assets, as well as potentially more complex assets and financial products (pending regulatory approval).
In addition, the team will look into improving the underlying AMM and synthetic asset minting process to enhance capital efficiency, such as adding liquidity-sensitive fees, and using liquidity pool tokens to collateralise debt.
Giving PERL immediate and compelling value as a liquidity and collateral asset
Supply Liquidity and Earn Incentives
PerlinX liquidity pools utilize the Balancer Protocol to stimulate deep liquidity in the PerlinX ecosystem. Through staking PERL, PerlinX users can supply liquidity while simultaneously earning rewards.
Collateralize and Create Synthetic Assets
PerlinX will be the interface for the creation of synthetic assets of any kind. PERL will be the sole collateral asset for this process. The mechanisms needed to perform this function will be implemented into PerlinX very soon.
Understanding the Risks
Stay safe on PerlinX
Use PerlinX at Your Own Risk
Using PerlinX is entirely at your own risk and Perlin is never liable for any losses that may occur when using PerlinX and our UI. Please don't supply assets you can't afford to lose and keep in mind that nothing on our site, PerlinX application or any other communication channels constitutes investment advice.
PerlinX Security
PerlinX is based on new technology and is currently in beta. The security of PerlinX and the smart contracts it is built on are our highest priority and we have conducted a rigorous third-party security audit (see our Quantstamp certificates here and here). Our standard protocol will be to also conduct security audits each time PerlinX is upgraded or materially altered in future. However, it is not possible for such audits to completely eliminate all risks. We strongly recommend that all PerlinX users exercise caution and do their own comprehensive research when deciding whether or not to participate in our Liquidity Pools and Synthetic Asset Generation functions.
Integrations with Other DeFi Applications & Protocols
PerlinX is integrated with other DeFi applications built and operated by third-party projects such as Balancer Labs and UMA Protocol (with others potentially to be added over time). This allows PerlinX users to access the functionality and incentives made available by those other external applications. However, PerlinX users should keep in mind that these integrations do also introduce additional potential risks which are beyond the control of Perlin.
Administrative Function Risks
Perlin does not have access to PerlinX user assets as a non-custodial interface platform. However, Perlin does maintain certain administrative functions, particularly in relation to potentially catastrophic events outside of our control. Whenever possible, we will advise users of any exercise of these administrative functions in advance to minimise or prevent any disruption. We will continue to responsibly and judiciously transition PerlinX to an entirely decentralised and community-led model over time.
Balancer Labs & Uma Protocol
PerlinX gives users access to the products and financial instruments provided by third-party protocols, and these instruments carry risk of devaluation, liquidation and impermanent loss.
Currently, PerlinX is integrated with third-party DeFi protocols built and maintained by Balancer Labs and Uma Protocol. Please read about how these protocols work and the risks associated with using them for yourself.