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Pudgy Penguins to Launch PENGU Token with Binance Listing and Airdrop on December 17.
Pudgy Penguins, a prominent NFT collection, is set to launch its native token, PENGU, on December 17, 2024. The launch will be accompanied by a listing on Binance, the world’s largest cryptocurrency exchange by trading volume, and an airdrop to eligible participants.
PENGU Token Launch and Binance Listing
The PENGU token is scheduled to go live on December 17, 2024, at 14:00 UTC. Binance has confirmed that it will support the token’s launch by listing PENGU for spot trading with pairs including USD, BNB, FDUSD, and TRY. This strategic partnership with Binance is expected to provide significant liquidity and exposure for the PENGU token, facilitating its adoption within the broader cryptocurrency community.
Airdrop Details and Token Distribution
In conjunction with the token launch, Pudgy Penguins has announced an airdrop for PENGU. The total supply of PENGU is set at 88.88 billion tokens, with the following allocations:
- 25.9%: Designated for the Pudgy Penguins NFT community, likely including holders of Pudgy Penguins and Lil Pudgy NFTs.
- 24.12%: Allocated to other NFT communities, such as Azuki, Bored Ape Mutant Ape, Doodles, and Memeland, aiming to expand the project’s reach.
- 17%: Reserved for the project team, with a one-year cliff and a three-year vesting period to ensure long-term commitment.
- 12.35%: Set aside for liquidity pools to support trading activities.
- 11.48%: Allocated to Igloo Inc., the parent company of Pudgy Penguins.
- 4%: Dedicated to public goods, fostering community development and engagement.
- 4%: Intended for professional brand expansion, enhancing the project’s market presence.
Market Valuation and Community Impact
Pre-market trading data indicates that PENGU is trading at approximately $0.05 per token, suggesting a fully diluted market valuation of around $4.4 billion. This substantial valuation reflects the strong community support and the anticipated demand for the token. The airdrop is expected to engage over seven million wallets, significantly expanding the Pudgy Penguins ecosystem and fostering greater community involvement.
Conclusion: Pudgy Penguins to Launch PENGU Token with Binance Listing and Airdrop
The launch of the PENGU token represents a significant milestone for the Pudgy Penguins project, marking its expansion into the cryptocurrency market beyond NFTs. With the support of Binance and a comprehensive airdrop strategy, PENGU is poised to make a substantial impact in the digital asset space, offering new opportunities for both existing community members and potential investors.
