Binance, the largest cryptocurrency exchange by trading volume, is set to list Pudgy Penguins’ native token $PENGU today, December 17, 2024. The Pudgy Penguins NFT team announced plans to launch their native token “PENGU’ earlier last week. In this article, we shall exclusively explore all that you need to know starting from $PENGU’s official launching time, airdrop, and tokenomics.
Tomorrow. $PENGU. pic.twitter.com/80LHuf9vZj
— Pudgy Penguins (@pudgypenguins) December 16, 2024
What Is Pudgy Penguins’ $PENGU?
By description, $PENGU is the official token of the Pudgy Penguins, the globally acknowledged non-fungible token collection, which features a limited edition of 8,888 unique cartoons of cute penguins. The Pudgy Penguins NFT collection was launched in July 2021 exclusively on the Ethereum blockchain and has grown into one of the biggest NFT projects in the NFT market.
The Pudgy Penguins team announced their native token on December 06, 2024. In a blog post on X (formerly Twitter), the Pudgy Penguins stated that the native token would offer millions of its fans the chance to align with the brand’s vision. The introduction of the PENGU token is part of Pudgy Penguins’ broader strategy to grow its ecosystem. PENGU is set to launch today Dec 17, at 14:00 UTC on the Solana blockchain network.
Though the $PENGU token will first launch on the Solana blockchain network, it will eventually expand to Ethereum and Abstract, the consumer-focused Ethereum layer-2 scaling network being built by Igloo Inc. Unveiled in June 2024, Igloo is the parent company for the Pudgy Penguins. By launching PENGU on the Solana blockchain network, the Pudgy Penguins NFT team aims to reach an entirely new audience.
$PENGU Tokenomics
Based on the Pudgy Penguins tokenomics table, the $PENGU token will feature a limited supply of 88 billion. The Pudgy Penguin team has allocated 25.9% of the Pengu tokens for the Pudgy Penguins community, which is likely to include Pudgy Penguins and Lil Pudgy holders, and potentially holders of other pudgy digital assets like Pengu Pins (commemoration soulbound tokens) and Pudgy Rods.
PENGU will have a total supply of 88,888,888,888 and will launch on Solana.
Check out our tokenomics and distribution below: pic.twitter.com/I8WFBBa3mW
— Pudgy Penguins (@pudgypenguins) December 6, 2024
The Pudgy Penguins team has allocated It has also allocated 24.12% of the total supply to other communities to expand the size of the Pudgy Penguins community, bringing an estimated five million new huddle members on board. It has also reserved 12.35% of the total supply to create liquidity pairs on decentralized exchanges and grow a thriving market for PENGU after launch.
Furthermore, the Pudgy Penguins team has also reserved 17.8% of the total supply to the project team and subject, at a 1-year cliff and 3 years vesting. It has also reserved 11.48% of the total supply for the company, which will be used for development and marketing ventures. Lastly, the team has reserved 0.35% to the FTX exchange token holders and 4% of the token supply to the public good, in line with the Pudgy Penguins’ motto of “Spreading good vibes across the meta.”
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