Even before its token even launched, PENGU made headlines, and now it has officially landed on Binance through the HOLDer Airdrop.
It is the native token of the popular Pudgy Penguins NFT Collection, and the project seems to revolve around the number 8, representing penguins. For instance, the Pudgy Penguins NFT collection consists of 8,888 NFTs, while the total supply of the PENGU token is 88,888,888,888.
However, upon being listed on Binance, the circulating supply will only be 70.22% of the total supply.
About Pudgy Penguins
The Pudgy Penguins NFT collection is no ordinary project. It has stood as a competitor to BAYC (Bored Ape Yacht Club), a collection renowned for its “ape” avatars. Following the announcement of the PENGU token, Pudgy Penguins quickly rose to become the second-largest NFT collection by market cap. At one point, a single Pudgy Penguin NFT was selling for over $100,000, more pricey than Bitcoin.
This surge in value was driven by speculation among NFT holders that they would receive PENGU token allocations. As people rushed to buy NFTs, their prices skyrocketed. However, after the launch of the PENGU token, NFT floor prices dropped back to around 17.8 ETH.
PENGU Token Utility
Interestingly, the PENGU token’s utility is quite simple as it doesn’t have any specific functionality. According to the Pudgy Penguins team, the token is intended to connect their community with a broader audience. Despite this, the Pudgy Penguins ecosystem plans to continue partnerships and expand its presence through online content, gaming, and social media.
The community speculates that PENGU could evolve into something similar to BAYC’s APE token, which raises anticipation about its future potential.
Tokenomics
PENGU has a total supply of 88 billion tokens, which is relatively large. Its allocation is as follows:
3% for Binance HODLer Airdrop
12.35% for Liquidity
47.87% for Community Airdrop
4% for Public Goods
3% for Marketing
29.78% for Team, advisors, and investors.
Binance HODLer Airdrop
Binance’s HODLer Airdrops are surprise rewards for users who stake BNB in Simple Earn products. For PENGU, the airdrop was distributed between December 9th and 12th to users who had staked their BNB in these products. To participate in future HODLer Airdrops, all you need to do is stake your BNB in Simple Earn — no additional actions are required.
Missed Out on PENGU? Prepare for Future Airdrops!
If you missed out on the PENGU airdrop this time, don’t worry! Start staking your BNB in Flexible or Locked Staking now to prepare for future HODLer Airdrops, as well as potential Megadrops or Launchpool rewards.
Key Takeaway
This month alone, Binance has already launched three projects with HODLer Airdrops. By staking more BNB, you not only earn rewards but also increase your chances of receiving these exclusive airdrops. Don't miss out on Binance's sweet surprises!
