Original title: (Launching tonight, a brief analysis of Pudgy Penguins (PENGU) valuation expectations)

Original author: Azuma, Odaily Planet Daily


The highly anticipated Pudgy Penguins token (PENGU) will officially launch tonight.


Luca Netz, CEO of Pudgy Penguins, posted on X this morning stating that at 8:00 AM Eastern Time tomorrow (9:00 PM Beijing Time tonight), eligible participants (including holders of Pudgy Penguins, Lil Pudgys, Rogs, and SBTs, etc.) will be able to start claiming PENGU. The claiming period lasts for 88 days, and all unclaimed supply will be permanently locked/burned after the 88th day.


Buyers of Pudgy Toys will also be included in the airdrop scope, but since Pudgy Toys / Pudgy World is built on Abstract, the bridge function for claiming PENGU through LayerZero will be launched when the Abstract mainnet goes live. After that, Pudgy Toys buyers will also be able to claim their PENGU, and more details will be announced when the Abstract mainnet launches in January next year.


Current situation of PENGU


As of the publication date, both Binance and OKX have officially announced the listing of PENGU.


Among them, Binance has announced that PENGU will be the 5th HODLer airdrop project on the exchange. Users who purchase fixed-term and/or current products using BNB from 8:00 AM Beijing Time on December 9 to 7:59 AM on December 13 will receive airdrop allocations. The expected launch time for PENGU is tonight at 10:00 PM, at which time trading pairs such as USDT, BNB, FDUSD, and TRY will be opened.


OKX has also opened PENGU deposits and announced that it will initiate PENGU trading as soon as user deposit quantities meet the requirements to open trading.


PENGU Token Economic Model


Earlier today, as part of the information disclosure for 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 based on the Solana network, with the token contract address being 2 zMMhcVQEXDtdE 6 vsFS 7 S 7 D5 oUodfJHE 8 vd 1 gnBouauv. At the beginning of its listing on Binance, the circulating supply of PENGU will be 62,415,951,646 tokens, accounting for about 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; this portion of tokens will be locked for 1 year and 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 airdrop;


· 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 figure below, apart from the shares for the team, investors, and advisors, the rest of the PENGU allocation will be unlocked at the time of launch.



Expected Valuation of PENGU


Currently, multiple pre-launch trading markets have opened pre-market trading for PENGU. As of around 1:00 PM Beijing Time, the valuation quotes from various platforms are as follows.


· PENGU is currently quoted at $0.04128 on Aevo, corresponding to a circulating market cap (MC) of approximately $2.576 billion, and a fully diluted valuation (FDV) of about $3.669 billion;


· PENGU is currently quoted at $0.0439 on whales.market, corresponding to a circulating market cap (MC) of approximately $2.74 billion, and a fully diluted valuation (FDV) of about $3.9 billion;


If we use NFT tokens like APE, MOCA, and animal meme tokens like PEPE, WIF as reference benchmarks, the expected valuation of PENGU is as follows.



Summary


Given the current hot market sentiment, combined with Pudgy Penguins' increasingly solid leading position in the NFT segment, it is expected that PENGU will attract a significant flow of traffic after its launch. However, considering the relatively large circulation ratio of PENGU at the beginning of its launch, it is inevitable that there will be some selling pressure from airdrop profits. Investors need to operate rationally based on their individual expectations, DYOR.


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