Created in July 2021, Pudgy Penguins is an NFT collection that has quickly become a sensation. While the NFT ecosystem seems to have been reborn from its ashesThe Pudgy Penguins now want to set sail for Solano.
- Pudgy Penguins has made a name for itself in the NFT world since its inception in July 2021.
- They announced the launch of their PENGU token on the Solana network without specifying its utility yet.
Pudgy Penguins unveils its PENGU token
Since its inception in 2021, Pudgy Penguins excelled in the NFT world. More than just a collection of cute penguins, they have become a true cultural phenomenon with an active community and strategic partnerships. Therefore, they have been used several times as an eligibility criterion for airborne troops.
This Friday, December 6, the Pudgy Penguins teams announced launching their own token soon. With a title PENGUwill be launched on the Solana network.
“With PENGU, the millions of Pudgy Penguin fans and the hundreds of millions of people outside of crypto who see and share Pudgy Penguin every day finally have the opportunity to identify with the character. »
At the moment, the team has not yet clarified the utility of the token. However, it is very likely that they allow participation in the decentralized management of the protocol.
Tokenomic PENGU
In addition to this announcement, Pudgy has Penguins revealed the tokenomics of its token. Therefore, PENGU will have a total supply (stock) 88,888,888,888 tokens.
In practice, these tokens will be distributed as follows:
- 25.9% for the Pudgy Penguins community. Perhaps via airdrop to NFT holders;
- 24.12% for other communities whose details were not shared;
- 11.48% for the company;
- 12.35% for initial liquidity;
- 17.8% for the development team;
- 4% for general welfare;
- 4% for proliferation ;
- 0.35% for FTT holders.
More information is expected to be shared in the coming weeks. The token launch is actually planned for 2024, so it should happen in the coming weeks.
Hopefully the project has potential the airdrop will be as successful as the one led by Hyperliquid last week. Indeed, the price of the HYPE token continued to rise even though it was not listed on any major exchange.