Original title: “A quick look at Binance HODLer’s 5th airdrop project Pudgy Penguins (PENGU)”
Original source: Golden Finance
On December 16, 2024, Binance announced that the Binance HODLer airdrop has now launched the fifth phase of project Pudgy Penguins (PENGU), an NFT (non-fungible token) collectible built on Ethereum.
From 08:00 on December 9, 2024 to 07:59 on December 13, 2024 (East Eighth District time)users who use BNB to subscribe for regular and/or current products on the coin-earning platform will receive airdrop allocations. HODLer airdrop information is expected to go live within twelve hours, and new tokens will be distributed to users’ spot wallets one hour before trading begins.
Binance will December 17, 2024 22:00 (East Eighth District time)List PENGU and open trading pairs for USDT, BNB, FDUSD and TRY. Seed tag trading rules apply.
1. PENGU HODLer airdrop details
· Token name: Pudgy Penguins (PENGU)
· Current total supply of tokens: 88,888,888,888 PENGU
· Maximum supply of tokens: 88,888,888,888 PENGU
· Total amount of HODLer airdrop tokens: 2,666,666,666.64 PENGU (accounting for 3% of the maximum token supply)
· Circulating supply before Binance listing: 623,125,000 PENGU
· Smart contract details: Solana, 2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv
· BNB position hard cap: average BNB position quantity of a single user / total average BNB position quantity * 100% ≤ 4%, (if the position proportion is greater than 4%, the BNB position proportion will be calculated as 4%)
2. Introduction to the Pudgy Penguins project
What is PENGU, Pudgy Penguins Token?
PENGU is the native cryptocurrency token launched by Pudgy Penguins, a popular NFT project aiming to expand its influence in the blockchain ecosystem. PENGU was launched on the Solana blockchain to drive community engagement and support the project’s broader goals.
Key takeaways
· PENGU is the official token of the Pudgy Penguins NFT series, which contains 8,888 unique cute penguin cartoon images.
· The Pudgy Penguins NFT series was first launched on the Ethereum blockchain and has grown into one of the largest NFT projects by market value. It has recently surpassed BAYC to become the second largest NFT project by market value.
· PENGU will be launched on the Solana blockchain, aiming to expand the project’s community and attract new users. Multi-chain deployment is planned and will be extended to include other blockchain networks such as Ethereum and Abstract.
Pudgy Penguins, one of the largest NFT series based on the Ethereum blockchain, will launch a native token – PENGU. Although Pudgy Penguins was not the first major NFT project to launch a native token, it withstood the test during the “NFT winter” and eventually became the second largest NFT project by market value after CryptoPunks.
2. The unique features of PENGU token
1. Short preparation period
Although rumors about Pudgy Penguins’ plan to launch a token have been circulating for years, the official announcement was not made until December 5, stating that PENGU will be officially launched in 2024.
Typically, airdrops related to an asset or ecosystem will have a long preparation period (months or even years), and there will be strong signals heralding the launch of the token, or locking in the airdrop price by announcing a snapshot date. PENGU, however, did not take such a route.
This triggered an enthusiastic response from the NFT market:
• The base price of Pudgy Penguins increased from approximately 16 ETH (approximately $61k) to 23 ETH (approximately $83k).
• The base price of Lil Pudgies (its sub-series) increased from ~1.7 ETH (~$6.5k) to 2.5 ETH (~$9k).
Data source date (December 10)
3. Positioning of Tokens
PENGU is Meme coins, utility tokens, or cultural tokens?？
It seems that it is a combination of the above three and may take on more roles in the future. Currently it is described as Pudgy Penguins Official Tokenserving this NFT project positioned as the “cryptocurrency facade”.
While self-proclaimed “cryptocurrency facade” is a subjective statement, Pudgy Penguins does have a solid foundation to back up this claim:
• 34 billion GIF views:Almost everyone has seen the Pudgy Penguins GIF;
• 1.6 million Instagram followers:The content is endearing and relatable;
• 522,000 TikTok main account followers,as well as 1.1 million Pudgy Kindness account followers；
• Global sales exceed 1.5 million Pudgy toysavailable at retailers including Walmart, Target and Amazon.
For those new to cryptocurrency, PENGU offers a new way for fans of Pudgy Penguins to develop a deeper connection with the characters, brand and intellectual property (IP) that is no longer limited to purchasing toys or engaging with content interactive.
This is consistent with the point I made earlier about cryptocurrencies being better stocks. Holding PENGU tokens can be seen as becoming an owner or stakeholder of the Pudgy Penguins brand in a new way, just like buying shares in the company has a similar meaning.
For some, it’s an investment; for others, it’s a way to express fandom; or both. Additionally, as the brand grows, the token’s uses may expand further.
4. Token Economics
Pudgy Penguins presents its token economic model in a new and interesting way, rather than the traditional 20-page white paper and pie chart.
This cute style fully embodies the Pudgy Penguins brand identity.
• Total supply:88,888,888,888 (8.89 billion pieces), a tribute to the 8,888 NFTs from the original Pudgy Penguins series;
• Application deadline:88 days.
Two allocation details stand out:
1. Other communities:
about 24% of tokensThe proportion that will be allocated to “other communities” and allocated to the Pudgy holder community(about 26%)quite.
On the surface, this may seem unfair to the Pudgy community, but the distribution scope explains the decision:
• Pudgy holder allocation will cover approximately 15,000 wallets;
• Other community allocations are open to approx. 5 million wallets。
This contrasts with 6th Man Ventures’ analysis of token design and distribution, which found that large-scale airdrops tend to perform poorly compared to airdrops focused on core users.
Original link
Source link
Source
