PENGU: All You Need to Know About the Pudgy Penguins Solana-Based Token

After garnering over 50 billion views on various social media platforms and selling millions of toys in Walmart and other stores in the United States, Ethereum-based NFT project Pudgy Penguins launched its token on December 17th.

Following the long-awaited token launch, the floor price of Pudgy Penguins skyrocketed above $100,000, boosting its market valuation massively to become the second-largest NFT project, according to NFT Price Floor data.

Are you part of the Pudgy Penguins community or an outsider who wishes to know more about PENGU? Well, this article is tailored for you. Keep reading to learn about the token’s tokenomics and other key details.

PENGU Explained

PENGU is a Solana-based token intended to power the Pudgy Penguins ecosystem. Its total supply is capped at 88.88 billion tokens, with 25.9% of the figure distributed to the NFT project’s community via an airdrop.

But why was PENGU launched on Solana, yet Pudgy Penguins NFTs run on the Ethereum blockchain? The developers behind the project say the move is intended to reach a new audience in an effort to expand Pudgy Penguins’ fanbase. However, they plan to expand PENGU to Ethereum and an upcoming self-developed blockchain network.

How Will You Identify the Actual PENGU?

Since Pudgy Penguins creators announced the launch of PENGU, several copycat tokens have been created, with their developers urging investors to buy them. To avoid losing funds to these fake tokens, only buy the actual PENGU, whose address is 2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv. Better yet, you can buy the asset from reliable centralized exchanges that have listed it.

PENGU’s Tokenomics

Here is how Pudgy Penguins creators have allocated the over 88 billion PENGU tokens:

Pudgy Penguins Community (25.9%): As mentioned, 25.9% of PENGU’s total supply has been airdropped to the Pudgy Penguins community, which includes holders of Pudgy Rods, Lil Pudgys, and Pudgy Penguins NFTs. According to the PENGU tokenomics, Lil Pudgy owners have received 188,000 tokens, while those of Pudgy Rod and Pudgy Penguins have gotten 195,000 and 1.7 million, respectively.

Other Communities (24.12%): Over 21 billion PENGU tokens have been allocated to other Web3 communities as Pudgy Penguins creators seek to acquire more than five million new members. Communities that are eligible for free PENGU include Azuki, Bitcoin Puppets, Memeland, Wonky Stonks, Mocaverse, The Plague, Onchian Gaias, BoDoggos, Doodles, Plooshies, Mutant Ape Yacht Club, and Goblintown. Furthermore, if you hold over 1 billion MOG tokens, you qualify for a PENGU airdrop.

Pudgy Penguins Team (17.8%): The team behind Pudgy Penguins will receive over 15 billion PENGU tokens, which come with a 3-year vesting period. That means team members will not be able to sell their allocations until 2028.

Liquidity Pools (12.25%): To facilitate seamless trading of PENGU, Pudgy Penguins creators will deposit over 10 billion tokens into various liquidity pools.

Investors (11.48%): Entities that have made financial contributions to Pudgy Penguins will get 10.2 billion tokens, tradable after three years.

Public Good (4%): About 3.55 billion PENGU will be used to finance the ‘Kindness Campaigns,’ which involves supporting underappreciated streamers and other public good initiatives.

Proliferation (4%): This allocation is intended to support marketing efforts and financing exchange listings.

FTT Holders (0.35%): Holders of FTT, the native token of now-collapsed crypto exchange FTX, will get more than 310 million PENGU tokens. Notably, FTT has increased by 4% since PENGU went live, defying the current marketwide downtrend.

How Do You Claim PENGU?

According to Pudgy Penguins’ tweet on Tuesday, eligible users can claim their free PENGU by visiting claim.pudgypenguins.com. The token claiming period ends on March 15th, 2025. Users can also check eligibility on the same platform.

Where Can You Buy PENGU?

If you have not qualified for the PENGU airdrop but want to buy the token, you can do so via decentralized or centralized exchanges. If you prefer the former, purchase PENGU on Raydium or Jupiter. As for centralized exchanges, the asset has been listed on Bybit, Binance, and OKX.

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