Pudgy Penguins launches PENGU token with Binance listing and airdrop program.
PENGU token has a $4.4B valuation, with 88.8B tokens distributed across key allocations.
Pudgy Penguins NFT floor price surges past 33 ETH amid PENGU token launch excitement.
Pudgy Penguins has announced the launch of its PENGU token, set for December 17, with Binance listing and an airdrop. The token will have a fully diluted valuation of $4.4 billion, based on pre-market trading data.
Pudgy Penguins’ official X account shared information unveiling the token. Following this, Binance confirmed it will list PENGU for spot trading. The trading pairs include USD, BNB, FDUSD, and TRY. Binance also announced an airdrop for users enrolled in its HODLer Airdrop program.
The circulating supply of PENGU tokens is limited to 88,888,888,888. 25.9% of the supply will be allocated to the Pudgy Penguins community. Other NFT projects firms such as Azuki, Bored Ape, Mutant Ape, and Doodles will take 24.12%. Team members receive 17 percent of the shares which will be locked up for a year and will vest over a period of three years.
Liquidity pools will hold 12.35% of the supply, while 11.48% is reserved for Pudgy Penguins’ parent company, Igloo Inc. Public goods and brand expansion will each receive 4%. Pudgy Toys buyers will also claim PENGU tokens through AbstractChain, which is expected to go live in January.
Luca Netz, CEO of Pudgy Penguins, detailed the PENGU claim process. Holders of Pudgy Penguins, Lil Pudgys, Rogs, and Soulbound Tokens (SBTs) can claim their tokens starting December 17 at 8 a.m. EST. Eligible participants must connect both Solana and Ethereum wallets. Netz advised using desktop devices for a smoother claiming experience.
Tokens that will not be claimed after 88 days maximum will be burned. Netz encouraged users to be skeptical, stating that the official links should be checked through official Pudgy Penguins accounts and Discord channels.
The PENGU launch coincides with a surge in the Pudgy Penguins NFT floor price. It just reached 33 ETH, worth above $133,000 as of time of writing, with ETH sitting above $4,000. The collection has surpassed the Bored Ape Yacht Club NFTs that cost 19.69 ETH at press time.
Market analysts attribute the price rally to anticipation surrounding the PENGU token launch. The Pudgy Penguins ecosystem has seen increased buyer activity, reflecting growing investor interest. They have compared this development to BAYC’s ApeCoin launch, which initially surged before falling sharply. The market response to PENGU’s rollout will highlight its long-term viability.
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