Original | Odaily Planet Daily (@OdailyChina)
Author | Azuma (@azuma_eth)
The highly anticipated Pudgy Penguins token (PENGU) will officially launch tonight.
Pudgy Penguins CEO Luca Netz tweeted this morning on X that eligible participants (including holders of Pudgy Penguins, Lil Pudgys, Rogs, and SBTs, etc.) can start claiming PENGU tomorrow at 8:00 AM Eastern Time (9:00 PM Beijing time tonight). The claiming period lasts for 88 days, and any unclaimed supply will be permanently locked/destroyed after the 88th day.
Buyers of Pudgy Toys will also be included in the airdrop scope. However, since Pudgy Toys / Pudgy World is built on Abstract, when the Abstract mainnet launches, the bridge function for claiming PENGU through LayerZero will also be launched. Subsequently, Pudgy Toys buyers will also be able to claim their PENGU, and more details will be announced at the time of Abstract mainnet launch in January next year.
PENGU Listing Situation
As of the time of this post, both Binance and OKX have officially announced that they will list PENGU.
Binance has announced that PENGU will become the 5th HODLer airdrop project on the exchange. During the period from December 9, 8:00 AM to December 13, 7:59 AM Beijing time, users who purchase periodic and/or current products using BNB will receive airdrop allocations. The opening time for PENGU is expected to be 10:00 PM tonight, when trading pairs such as USDT, BNB, FDUSD, and TRY will be available.
OKX has opened PENGU deposits and announced that trading will be activated as soon as the user deposit volume meets the requirements.
PENGU Token Economic Model
Earlier today, as part of the information disclosure regarding the new coin launch, Binance Research has released some key information about PENGU.
The total supply of PENGU is 88,888,888,888 tokens, which will be issued on the Solana network with the token contract address 2 zMMhcVQEXDtdE 6 vsFS 7 S 7 D5 oUodfJHE 8 vd 1 gnBouauv. At the initial listing on Binance, PENGU's circulating supply will be 62,415,951,646 tokens, accounting for approximately 70.22% of the total supply.
The specific allocation plan for PENGU is as follows:
29.78% of PENGU will be allocated to the team, investors, and advisors, with this portion of the tokens locked for 1 year, then released linearly over 3 years.
47.87% of PENGU will be used for community airdrops.
3% of PENGU will be used for Binance HODLer airdrops.
12.35% of PENGU will be used to build initial liquidity.
4% of PENGU will be used to support public affairs development.
3% of PENGU will be used for marketing and expansion.
As shown in the image, aside from the shares for the team, investors, and advisors, the remaining portions of PENGU allocation will be unlocked at the opening.
PENGU Valuation Expectations
Currently, multiple pre-launch trading markets have opened pre-market trading for PENGU. As of around 13:00 Beijing time, the valuation quotes from various platforms are as follows.
PENGU is currently priced at $0.04128 on Aevo, with a circulating market cap (MC) of approximately $2.576 billion and a fully diluted valuation (FDV) of about $3.669 billion.
PENGU is currently priced at $0.0439 on whales.market, with a circulating market cap (MC) of approximately $2.74 billion and a fully diluted valuation (FDV) of about $3.9 billion.
If using NFT-related tokens such as APE, MOCA, and animal meme tokens like PEPE, WIF as reference targets, the valuation expectations for PENGU are as follows.
Summary
Given the current enthusiastic market sentiment, along with Pudgy Penguins' increasingly solid leadership position in the NFT niche, it is expected that PENGU will attract significant traffic after its opening. However, considering the relatively high circulation ratio at the beginning of PENGU's launch, certain selling pressure from airdrop profits is inevitable. Investors should operate rationally based on their personal expectations and conduct their own research (DYOR).
