Perlin (Perl) Trading Setup & Momentum
Updated
PerlinX is a decentralized finance interface platform, allowing users to trade assets of any kind with each other through incentivized liquidity mining and synthetic asset generation.
PerlinX utilizes incentivized liquidity provision through the use of liquidity pools powered by the Balancer protocol. Participants can stake their PERL tokens to provide liquidity and be rewarded for doing so. Rewards for liquidity provision will initially be distributed in PERL, BAL and UMA tokens.
PerlinX also leverages the UMA protocol to generate synthetic assets. Each asset will have its own price feed, which is powered by UMA's Data Verification Mechanism (DVM), a decentralized oracle that's designed to solve the problem of centralized and corruptible oracle price feeds. All synthetic assets on PerlinX will have the prefix px (eg. pxGold, pxCarbon, etc). Every synthetic asset created using the PerlinX platform will require PERL as collateral.
Perlin's mission is to bridge legacy financial systems and products to DeFi and democratizing market access for all. Perlin is focused on helping to create more efficient, equitable, and open marketplaces and economies that can benefit everyone everywhere. As the first ever project in the world to enable synth asset minting based on UMA Protocol – we’re now one step closer in the grand vision.
PERL can be used as both a liquidity and collateral asset. You can stake PERL to provide liquidity to the PerlinX platform and receive incentives in PERL and BAL rewards for doing so (UMA rewards coming soon too!). Or you can use PERL as collateral to create synthetic PxAssets.
Trading reasons:
I really do like the concept of Perlin as DEFI and I do believe this project can go to the upside is currently the momentum , breakout pattern happening right now and the fact that is a low market cap project with huge potential. Entries and exit points or levels to watch are on chart.
For details comment at any time!
Don't forget to follow and like if you find this helpful!
PerlinX utilizes incentivized liquidity provision through the use of liquidity pools powered by the Balancer protocol. Participants can stake their PERL tokens to provide liquidity and be rewarded for doing so. Rewards for liquidity provision will initially be distributed in PERL, BAL and UMA tokens.
PerlinX also leverages the UMA protocol to generate synthetic assets. Each asset will have its own price feed, which is powered by UMA's Data Verification Mechanism (DVM), a decentralized oracle that's designed to solve the problem of centralized and corruptible oracle price feeds. All synthetic assets on PerlinX will have the prefix px (eg. pxGold, pxCarbon, etc). Every synthetic asset created using the PerlinX platform will require PERL as collateral.
Perlin's mission is to bridge legacy financial systems and products to DeFi and democratizing market access for all. Perlin is focused on helping to create more efficient, equitable, and open marketplaces and economies that can benefit everyone everywhere. As the first ever project in the world to enable synth asset minting based on UMA Protocol – we’re now one step closer in the grand vision.
PERL can be used as both a liquidity and collateral asset. You can stake PERL to provide liquidity to the PerlinX platform and receive incentives in PERL and BAL rewards for doing so (UMA rewards coming soon too!). Or you can use PERL as collateral to create synthetic PxAssets.
Trading reasons:
I really do like the concept of Perlin as DEFI and I do believe this project can go to the upside is currently the momentum , breakout pattern happening right now and the fact that is a low market cap project with huge potential. Entries and exit points or levels to watch are on chart.
For details comment at any time!
Don't forget to follow and like if you find this helpful!
Trade closed manually
Out of Perlin for the moment, currently riding the wave on SC and DGB , check my charts for trading setups, right now DGB has the best entry risk reward ratio, probably the big sleeping giant I was waiting for, along SC. Will update once I get back in PERL.Trade closed: target reached
Target from R1 reached, PERL moving as expected!Trade closed: target reached
Closed @ 300 Satoshi. Will make a new setup for PERL soon!
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