Perlin ico review
Advantages:
+ First project that implements the innovative Alavanche protocol.
+ Very well-writen code, strong tech implementation and a scalable idea.
+ Strong team, partners and investors behind the project.
Disadvantages:
– High hardcap, lack of roadmap and unevenly distributed allocation, lock-up and vesting periods. Despite the info not being publicly available, the team has already allegedly collected close to $50 mln from seed, strategic and private round investments.
– Overall, negative public sentiment. A lot of pools are requesting refunds while the team struggles to establish great communication with the community so far.
– Strong competition in the cloud computing space – Dfinity, Golem, Sonm, Ankr, Akash, DeepCloud, Hypernet, Uranus – without naming pure DAG-based competitors.
Perlin managed to create a lot of buzz around the crypto community long before token metrics or conditions for all ICO participants were available to the public. The project successfully attracted the attention of the audience by having a strong number of well-known and established institutional investors and partners on board. To name a few: Bitmain, OK Blockchain Capital (OKex exchange), Node Capital, FBG Capital, iAngels amongst many, many others.
Also, from a technical perspective – Perlin has a lot to offer – the first project to implement the Avalanche protocol on top of a DAG-based distributed ledger, great code that received extremely positive feedback and overall strong team and advisors. Despite Perlin is entering a very crowded space – decentralized cloud computing, it looked like they will have the upper hand over other ICO competitors such as Hypernet, DeepCloud or even Ankr and other already listed projects.
However, ICO market is very emotional and often irrational, which can cause a quick shift in the general sentiment. We feel that Perlin might fall victim of a common practice – giving VCs and earlier rounds much better conditions compared to private and public sale investors. In general, we believe the token metrics , vesting and lock-up period are far from ideal and will massively benefit earlier rounds and institutional investors over private and public sale investors. Also, we believe, there was poor communication between Perlin’s team and the community, which combined with the lack of overall transparency added more to the decreasing trust and negative sentiment towards the project.
That said, Perlin comes with an innovative technology, strong and competent team, a large group of well-known partners and investors, so we do not have a negative stance for the long-term potential of the project. We, however, remain very cautious and rather sceptical for it’s short-term outcome.
The small winner gets shrimps for dinner! 🦐
