FAQ About the Pudgy Penguins $PENGU Token

What is $PENGU, and what is its connection to Pudgy Penguins?

$PENGU is the native token of the Pudgy Penguins project, launched on the Solana blockchain. It serves as both a utility and governance token, designed to boost community engagement and expand the Pudgy Penguins brand within the cryptocurrency and digital culture spaces. It builds upon the cultural impact that Pudgy Penguins has already achieved.

When was $PENGU launched, and what was the initial market response?

$PENGU was launched on December 17, 2024, with an initial market capitalization of $2.3 billion. It recorded over $90 million in trading volume within the first hour. However, the token experienced significant volatility shortly after its airdrop, with its price dropping by over 50%. During this time, the floor price of Pudgy Penguins NFTs also saw a decline.

How was the $PENGU token distributed, and who were the primary recipients?

The total supply of $PENGU is 88,888,888,888 tokens, distributed as follows:

• 25.9% for the Pudgy Penguins community (including NFT, Lil Pudgys, and Pudgy Rod holders).

• 24.12% for community expansion.

• 17.8% for the project team.

• 11.48% for the company.

• Remaining tokens allocated to liquidity pools, public good initiatives, and brand expansion.

Part of the tokens were distributed via an airdrop to NFT holders and community members.

What was the claim process for the airdropped $PENGU tokens, and were there any challenges?

The claim period for airdropped tokens is 88 days. Unclaimed tokens after this period will be locked in the smart contract. During the initial claim period, the process faced challenges, including potential DDOS attacks that disrupted the website’s functionality.

What are the stated goals of $PENGU, and how does it relate to the existing Pudgy Penguins community?

The primary goals of $PENGU include:

• Enhancing community involvement through token ownership.

• Broadening the brand’s reach beyond the NFT space.

• Strengthening the community’s engagement and connection to the Pudgy Penguins ecosystem.

What is the significance of $PENGU launching on the Solana blockchain?

Launching on Solana highlights the project’s intent to utilize a blockchain with high transaction speeds and low costs, ensuring scalability and quick trading. This makes it more accessible to a wider audience and encourages participation.

What kind of exchange listings were implemented for $PENGU’s initial trading?

$PENGU was listed on major centralized cryptocurrency exchanges such as Binance, OKX, and Bybit for spot trading upon launch. These listings enabled immediate, high trading volume and broad access to the token.

To trade Pudgy Penguins, you can visit Cascade.

What are some key observations and potential concerns surrounding the $PENGU launch?

The $PENGU launch aims to extend the reach and engagement of the Pudgy Penguins brand through token introduction. While it achieved impressive initial trading volume and market cap, the token faced significant price volatility, which is common in the cryptocurrency space.

Potential concerns include:

• The impact of token performance on the associated NFT market.

• The need to maintain sustained interest and utility for $PENGU within the ecosystem to ensure long-term success