Binance, the largest cryptocurrency exchange by trading volume, is set to list Pudgy Penguins' native token $PENGU today, December 17, 2024. The Pudgy Penguins team previously announced plans to launch their native token.
What is Pudgy Penguins' $PENGU?
$PENGU is the official token of the globally recognized NFT collection Pudgy Penguins, featuring 8,888 unique cartoon penguins. The collection launched on the Ethereum blockchain in July 2021. The launch is scheduled for today, December 17, on the Solana blockchain network.
$PENGU Tokenomics
$PENGU's tokenomics outlines a limited supply of 88 billion tokens. 25.9% of the tokens are allocated for the Pudgy Penguins community, including holders of Pudgy Penguins and Lil Pudgy. An additional 24.12% will be distributed to other communities to expand the family, while 17.8% is reserved for the project team.
Future Plans for $PENGU
$PENGU will initially launch on the Solana blockchain; however, future plans include expansion to Ethereum and Abstract — an Ethereum layer 2 scaling network by Igloo Inc. By launching on Solana, the team aims to reach a new audience.
The launch of the $PENGU token marks a significant move to expand the Pudgy Penguins ecosystem and engage a broader audience. The token is expected to foster community involvement and support the project's growth.
