No Pudgy Penguin, no airdrop for you! Some received 40 million tokens, some made millions in 20 minutes, while others went all in with $10,000 and saw it drop to zero instantly. Moreover, the NFT that can claim the most PENGU tokens is not even the Pudgy Penguins?
Written by: Alex Liu, Foresight News
On the evening of December 17, the token PENGU launched on Solana, with a maximum supply of 888.8 billion! As soon as the token was launched, trading activity was exceptionally hot, but the profits and losses of traders were vastly different:
After the launch of PENGU, a trader spent 23,742 SOL (approximately $5.36 million) to purchase 239.6 million PENGU, and then sold it for 60,726 SOL (approximately $1.37 million), earning a profit of 36,984 SOL (approximately $836,000) in less than 20 minutes.
In stark contrast to the genius traders, is this poor fool:
Someone went all in with $10,000 at the opening, but did not expect that the opening price of PENGU was completely unrealistic, ultimately buying PENGU at a valuation of about $14 trillion (equivalent to China's GDP for a year), and their $10,000 turned into $5 in seconds.
In addition to the hot trading, the generous airdrop ratio and the massive number of eligible addresses are also reasons for the high popularity of PENGU tokens. 25.9% of the total PENGU tokens will be distributed to members of the Pudgy Penguins ecosystem through airdrops, while 24.12% will be allocated to 'other communities', meaning that even if you do not have a Pudgy Penguin, you are likely to qualify for the PENGU airdrop!
PENGU Token Economics
The official has not yet released the specific categories that meet the airdrop conditions and the corresponding token amounts. Based on publicly available information on the internet, it turns out that the NFT that can claim the most PENGU tokens is not the Pudgy Penguins, but the rarest Pudgy Rods:
6,900,000 tokens / Pudgy Rods - Mythic (Fishing Rod NFT, rarity is Mythic)
1,700,170 tokens / Pudgy Penguins main series with a total of 8888 on Ethereum
398,550 tokens / Pudgy Rods - Epic (Fishing Rod NFT, rarity is Epic)
283,332 tokens / MVP [Soulbound Token]
250,000 tokens / Abstract Enjoyers - Giga [Discord Role]
213,332 tokens / 1000 Pengus Club [Soulbound Token]
194,501 tokens / Pudgy Rods - Rare (Fishing Rod NFT, rarity is Rare)
188,384 tokens / Lil Pudgys sub-series of little penguin NFTs with a total of 18888 on Ethereum
163,332 tokens / TruePengu Ice [Soulbound Token]
131,308 tokens / Pudgy Rods - Uncommon (Fishing Rod NFT, rarity is Uncommon)
105,786 tokens / Pudgy Rods - Common (Fishing Rod NFT, rarity is Common)
105,081 tokens / TruePengu Gold [Soulbound Token]
103,332 tokens / TruePengu Iridescent [Soulbound Token]
103,332 tokens / ARB Explorer [Soulbound Token]
103,332 tokens / BNB Explorer [Soulbound Token]
103,332 tokens / Poly Explorer [Soulbound Token]
103,332 tokens / Pengu Influencer [Soulbound Token]
43,332 tokens / Lil Pudgy Big Impact [Soulbound Token]
43,332 tokens / Safety Pin [Soulbound Token]
16,729 tokens / Abstract Enjoyers - Elite [Discord Role]
Variable quantity / OG Eth users, may be related to wallet age
Variable quantity / OG Sol users, may have various qualification criteria
Variable quantity / SOL diamond hands, may relate to the number held and duration
Variable quantity / Clusters, may depend on length and price
Nasen CEO posted a screenshot, stating that he can claim 40 million tokens!
To become a Solana OG user, known criteria include: Jupiter active users, JUP stakers (quantity threshold unknown); BONK holders and those locked in BONKrewards (minimum requirement of 1 billion tokens); users who used Magic Eden before 2023; users who traded tokens using the Swap feature built into the Phantom wallet before 2024, DRiP users before 2024, purchasers of Droplets, etc.
Members of the community who obtained the 'Elite' identity in Abstract Discord are eligible to receive PENGU, provided they declare this identity before the deadline and fill out the form in Discord. Eligible communities include but are not limited to: Plooshies, Doodles, Claynosaurz, Memeland, BoDoggos, Bitcoin Puppets, Nodemonkes, Azuki, Bored Ape Yacht Club, Mutant Ape Yacht Club, Wassies, Goblintown, Wonky Stonks, The Plague, Mocaverse, Onchain Gaias, and those holding at least 1 billion Mog Coin (MOG).
Buyers of Pudgy Toys who interact with its online Pudgy World gaming platform and collect 'Pudgy Traits' (or equip virtual penguin attributes) will also be eligible to receive PENGU. Owners of Pudgy Toys can access Pudgy World by scanning the QR code that comes with the toy. According to Luca Netz, the leader of Pudgy Penguins, after scanning the code, users will be instructed to 'collect traits and wait for Abstract Bridge to go live'.
According to the distribution amount above, the token airdrop received by a Pudgy Penguins NFT was worth over $90,000 when PENGU first launched!
It is worth noting that this airdrop did not take a snapshot of the penguin NFT holders. Whoever owns the NFT will be eligible to claim tokens, and the same NFT can only claim tokens once. After the launch of PENGU tokens, the floor price of Pudgy Penguins NFTs dropped sharply from an intraday high of 36 ETH to around 16 ETH.
But there are also some enviable lucky ones:
Someone sold a Pudgy Penguin at floor price after the crash, but the corresponding Lil Penguin (floor price around 2 ETH) and PENGU tokens have not yet been claimed, and the buyer almost made $100,000 for free!
As of the time of publication, PENGU is priced at $0.032 on Binance, with a market cap of $1.72 billion.
