Unknowingly, I have held Fat Penguin for over 1000 days. To be honest, diamond hands are tough but happy, after all, Penguin has given so much.
Yesterday, I saw the news that Fat Penguin would issue a coin; at first, I didn't quite believe it because the penguins have been downplaying the idea of issuing a coin and never relying on Ponzi to maintain the floor.
The team and community have been doing this for the past three years, synchronously making efforts in both the Web2 and Web3 worlds, continuously elevating brand building to new heights and letting the world know about Penguin.
As for why the coin is issued at this time, I thought long and hard about it and seemed to understand: the bull market continues, many outsiders are entering, and Penguin has a wide recognition in the Web2 world, also being a leader in the Web3 world, making it a bridge between the two worlds, helping more newcomers understand and participate in Web3, while also helping Penguin's various business advancements.
In other words, $PENGU is both a spiritual symbol and lubricant of the Penguin Empire, and will also become a vehicle for large-scale adoption in Web3. Regardless, I choose to unconditionally trust Penguin and the Luca team.
There has been a lot of discussion about the Fat Penguin airdrop in the past few days, and many questions as well; I will help answer them one by one.
① Is there a snapshot?
There is no concept of a snapshot; when $PENGU goes live, you can directly claim with your NFT for 88 days.
In other words, no matter when you purchase before the token goes live, you are eligible for an airdrop. Compared to the snapshot method, this clearly better prevents wash trading.
② The team loves the number 8.
The number of big penguins is 8888, with a total of $PENGU being 88,888,888,888, and the airdrop claim lasts for 88 days, indicating the team's strong affection for the number 8.
The number 8 in China means 'prosper', which has a very good connotation; I hope all Penguin holders can become wealthy, after all, we deserve it.
③ What is the token positioning?
The team has not elaborated much on the use of $PENGU yet, only mentioning promoting large-scale adoption of Web3 and allowing more people to join the Penguin community.
In my speculation, $PENGU is more like a cultural symbol of penguins, with a meme attribute, representing the efforts of Fat Penguin to swim against the current and innovate over the past three years, embodying confidence, optimism, cuteness, unity, and all good elements.
④ Why it will be deployed on Sol
$PENGU is deployed on Sol, I speculate, to allow more interested people to join with a low barrier.
In the future, $PENGU will expand to multiple chains and will also be adopted on the Ethereum mainnet and Abstract Chain.
⑤ About valuation
External valuation analysis of $PENGU is not referential because Fat Penguin's goal has never been to become the next xxx, but to be the best penguin.
Please stop comparing valuations with other projects.
⑥ Penguin community allocation is 25.9%.
After the official announcement of the coin issuance, the Penguin community remains harmonious as usual, without the usual online criticisms that other communities face before TGE, which is quite rare.
As an old member who joined the community in 2021, I believe the team will not disappoint any believer.
⑦ External community allocation is 24.12%.
This ratio is very large, covering 5 million addresses, showing the team's broad vision.
Based on my speculation, this portion of chips will likely cover the communities that previously received airdrops from Fat Penguin, as well as those with investment and financing relationships with Fat Penguin, such as Animoca, ZK, L0, OMNI, DYM, etc.
Additionally, there may be some new airdrop standards, let's wait and see.
⑧ FTT holders allocation is 0.35%.
Here, FTT refers to SBF's $FTT; many people, including myself, are surprised by this allocation.
The leader Luca held a meeting with the community last night to explain: hoping to give some warmth to the victims of the FTX explosion, letting them remain optimistic about this world. Love it.
⑨ $PENGU is just the first step.
To put it mildly, Fat Penguin is one of the few blue chips that does not rely on Ponzi schemes to maintain a floor price. The value of Penguin comes from the team's continuous efforts in both the Web2 and Web3 worlds; the brand and community are top-notch.
$PENGU is just the first step in the Fat Penguin landscape, with ongoing outreach activities and consumer-grade L2 Abstract (which will issue a coin separately).
All of the above is sufficient to support the NFT floor while preventing excessive selling of tokens at TGE.
⑩ T1 exchanges are lining up to list the coin.
Greatness needs no words. For such a large IP as Fat Penguin, no centralized exchange would miss the opportunity; those that should list will list, and we can just wait patiently.
