The Pudgy Penguins NFT project has officially launched its highly anticipated PENGU token on the Solana blockchain.
This marks a significant milestone for the beloved NFT brand as it expands its ecosystem to include a native token that enhances community engagement and utility.
Claims went live at 8 a.m. ET on Tuesday for holders of Pudgy Penguins, Lil Pudgys, Rogs, and SBTs, as confirmed by Luca Netz, CEO of Igloo — the company behind the project — in a post on X. Trading on major centralized crypto exchanges, including Binance, Bybit, and OKX, will follow.
Rogs are rare, collectible items within the Pudgy Penguins ecosystem, while SBTs (soulbound tokens) are non-transferable tokens that signify achievements, identity, or participation. For the core NFT collections, claims are directly tied to the NFTs themselves, whereas a snapshot for SBT eligibility was taken on December 8.
PENGU Token Launch Details
The PENGU token introduces a new era for Pudgy Penguins, which has become a staple in the NFT community. With a total supply of 88.88 billion tokens, the launch emphasizes community rewards, ecosystem expansion, and sustainability.
The token is now available for eligible NFT holders, including owners of Pudgy Penguins, Lil Pudgys, and Pudgy Rods, through a dedicated airdrop. Claims are currently open for 88 days, after which any unclaimed tokens will be permanently burned, ensuring a controlled token supply and added scarcity.
Token Allocation Breakdown
The tokenomics behind PENGU focuses on rewarding the community and fostering long-term growth. Key allocations include:
- Pudgy Penguins Community (25.9%): Airdropped to holders of Pudgy Penguins, Lil Pudgys, and Pudgy Rods NFTs.
- Web3 Community (24.12%): Tokens set aside to engage other Web3 and NFT communities.
- Team and Company (17.8%): Reserved for the team, with vesting schedules to ensure long-term commitment.
- Liquidity Pools (12.35%): Ensures active and liquid trading of PENGU tokens.
- Public Good (4%): Allocated for public initiatives and community-driven efforts.
- Brand Proliferation (4%): Tokens used to expand the Pudgy Penguins brand globally.
- FTT Holders (0.35%): Reserved for FTX token holders as part of broader community outreach.
Claim Window: 88 Days Before Token Burn
Eligible holders have 88 days to claim their PENGU tokens via the official Pudgy Penguins portal. After the claim window closes, any unclaimed tokens will be burned, reducing the overall token supply and enhancing its scarcity.
Building the Future of Pudgy Penguins
The PENGU token launch is more than just a new addition; it signals Pudgy Penguins’ evolution into a full-fledged digital ecosystem. By leveraging Solana’s fast, low-cost blockchain infrastructure, the project can seamlessly onboard new users and expand its reach. Future plans for the PENGU token include enhanced utility through staking, governance, and strategic partnerships.
With claims now live and the clock ticking, the Pudgy Penguins community is encouraged to secure their share of PENGU tokens before they are burned. For more information and to claim your tokens, visit the official Pudgy Penguins website and follow their official channels for updates.
This launch sets a new standard for NFT projects, merging digital collectibles with blockchain utility in an ever-evolving Web3 landscape.
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