The excitement around Pudgy Penguins is reaching new heights with the upcoming launch of their Solana-based token, PENGU.
The excitement around Pudgy Penguins is reaching new heights with the upcoming launch of their Solana-based token, PENGU. This development follows the project's impressive journey, which includes over 50 billion social media views and partnerships that brought Pudgy Penguin toys to major retailers like Walmart and Target.
Here’s everything you need to know about claiming your share of the PENGU airdrop.
What is PENGU?
PENGU is the native token for the Pudgy Penguins ecosystem, designed to enhance community engagement and extend the brand's reach. With a total supply of 88.88 billion tokens, a significant portion—approximately 25.9%—will be allocated to the Pudgy community through an airdrop.
By launching on Solana, Pudgy Penguins aims to tap into a new audience, while also planning future expansions to Ethereum and the Abstract layer-2 network.
Airdrop Details
While an official release date for PENGU has not been confirmed, it is expected to go live by the end of 2024. To ensure you’re ready to claim your tokens, it’s essential to understand who qualifies for the airdrop and how it will be distributed.
Who Qualifies for the Airdrop?
The largest portion of PENGU tokens will be reserved for existing Pudgy Penguins community members, specifically those holding Pudgy Penguins, Lil Pudgys, and Pudgy Rods NFTs.
Notably, there will be no snapshot of holders; instead, anyone holding these assets at the time of token generation will be eligible to claim their PENGU tokens.
In addition to NFT holders, PENGU will also be distributed to various other groups:
- Other Communities (24.12%): A significant allocation is set aside for new members from other Web3 communities, with the aim of welcoming 5 million additional Pudgy Penguins fans.
- Pudgy Penguins Team (17.8%): Employees of the Pudgy Penguins ecosystem will receive nearly 18% of the tokens, subject to a vesting schedule.
- Liquidity Pools (12.35%): To facilitate trading, a portion of the supply will ensure sufficient liquidity.
- Company (11.48%): The parent company, Igloo Inc., will also receive a share, with similar vesting terms as the team.
- Public Good (4%): Funds earmarked for public good initiatives will support community outreach and charitable efforts.
- Proliferation (4%): A small percentage will be used for brand expansion and marketing.
- FTT Holders (0.35%): A minimal allocation is reserved for holders of the FTX token, reflecting the project's commitment to its wider community.
How to Claim Your Tokens
Once PENGU goes live, holders will have a window of 88 days to claim their tokens. Specific instructions for the claiming process have yet to be announced, so it’s crucial to stay tuned for updates from the Pudgy Penguins team.
Pre-Market Trading
Even before the official launch, PENGU is already being traded on platforms like Whales Market. Early trading saw the token priced around $0.04, which could suggest a future valuation of over $3.5 billion, although pre-market prices can be highly volatile and may not accurately predict future trends.
Final Words
The PENGU airdrop represents an exciting opportunity for the Pudgy Penguins community and new fans alike. By understanding the eligibility criteria and following updates from the official channels, you can ensure that you're ready to claim your share of this highly anticipated token.
Keep an eye on announcements for more detailed instructions as the launch date approaches!
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