University of Oregon student fund research report recommends full allocation to AI mining project Pearl, with a target price of $2.5 to $3.

November 7 - The University of Oregon blockchain group Dorm DAO has released a research report recommending a full position buy into the AI mining project Pearl (PEARL), with a target price of $2.5 to $3, while the project's current market capitalization is approximately $531 million.

The research report points out that Pearl is a Layer 1 public chain adopting a "Proof of Useful Work" (PoUW) mechanism, replacing traditional PoW computation with matrix multiplication, allowing GPUs to participate in network security maintenance and earn token rewards while performing AI tasks. The fund believes that potential listing expectations on Coinbase and Kraken, FP8 kernel upgrades, and the AI computing power narrative are its main growth catalysts.

However, the research report also cautions that currently less than 1% of blocks involve real AI tasks, the token supply is expected to grow by approximately 86% next year; in addition, the approximately 122 million tokens produced within the first 6 days of the mainnet launch, the team's internal holdings have not yet been disclosed, and the project has not yet completed a third-party code audit.