What is Pangolin (PNG)? Everything you need to know about PNG Token

Pangolin - a community-driven decentralized exchange for Avalanche and Ethereum assets, brings users the best trading opportunities.

What is Pangolin? How does Pangolin works? What is PNG Token? In this article, I will introduce you an A-Z about Pangolin to support your trading decision.

What is Pangolin?

Pangolin is the top 1 AMM DEX project built in the Avalanche ecosystem, that allows users to swap Avalanche and Ethereum assets with an optimized fee. The procedure of accessing Avalanche-based DApps, notably Pangolin, is more complex than usual due to the three supporting chains: C-Chain, X-Chain, and P-Chain. 

AVAX, Avalanche’s native token, is used to determine transaction fees on the exchange.

What is PNG token?

PNG is the platform's native governance token which enables the community to drive the development of the product in full. 

The PNG token is an incentive for depositors who save and earn fees through Pangolin payment activities.

How does Pangolin work?

Pangolin builds on Avalanche instead of Ethereum. The problem of excessive transaction fees has been handled by utilizing a new structure with various token standards.

Although Pangolin is based on the Avalanche platform, the exchange is still compatible with Ethereum assets and tools.

Pangolin allows customers to trade at high speeds while paying cheap transaction costs, comparable to CEX. Another characteristic that distinguishes Pangolin from the competitors in this sector is Fair Launch, which occurs when the project decides on all PNGs for the community via Airdrop or Mining operations.

Detailed information about PNG token

PNG Token Metrics

• Token Name: PNG Token.
• Ticker: PNG.
• Blockchain: Avalanche.
• Token Standard: ARC20.
• Contract: 0x60781c2586d68229fde47564546784ab3faca982
• Token type: Governance, Utility.
• Total Supply: 538,000,000 PNG.
• Circulating Supply: 41,614,299 PNG.

PNG Token Allocation

• Airdrop: 5%.
• Liquidity Mining: 95%.

PNG Token Sale

As the project implements Fair Launch, there is no token sale and no token for the project team.

PNG Token Release Schedule

No tokens are locked, except for Liquidity Mining: Starting with 256M PNG, every 4 year the reward is halved, and so on.

PNG Token Use Cases

Pangolin’s governance is primarily community-driven, which contributes significantly to its value proposition. 

PNG holders can vote for the liquidity pool and the conversion fee. Conversion fees are being collected for the community’s benefits. 

For example, if the conversion fee is 0.05%, the liquidity provider will only receive 0.25% of the total, with the remaining 0.05% retained for other uses.

How to get PNG Token

You can get PNG Token by:

• Receiving airdrop: The project has made an Airdrop for users holding UNI and SUSHI on wallets before December 7, 2020.
• Providing liquidity to the pool and receive PNG as reward.
• Buying token from platforms that support PNG.

How to buy PNG

You can use Coin98 Exchange to swap other tokens for PNG following these simple steps with: exchange.coin98.com

Step 1: Connect Coin98 Extension Wallet.

Step 2: Click Trade and then click Pangolin.

Step 3: Choose coin/token for trading: 

• Search for PNG.
• If the search does not come up, you can paste the contract of PNG into the search box: 0x60781c2586d68229fde47564546784ab3faca982

Step 4: Adjust the amount you want to swap.

Step 5: Adjust the gas fee, then click Approve.

How to store PNG

You can store PNG Token on Coin98 Wallet with a few single steps as follows:

Step 1: Open Coin98 Wallet & click Receive on the home screen.

Step 2: Search PNG Token.

Step 3: Click on the correct result, copy the wallet address and send PNG to this address.

Pangolin Roadmap for 2021

The Pangolin team has begun planning and developing a roadmap focused on new features, ecosystem expansion, and continuous iteration to make Pangolin better than ever. The following areas have been identified as key factors to the success and long-term growth of the Pangolin project.

CEX listings: Completing the PNG token promotion product will promote listing deployment on many centralized exchanges to attract the community, which will also assist in promoting and introducing the project worldwide. Currently, PNG has been listed on Gate.io – as one of the top 10 CEXs.

Staking: Launching staking feature to incentivize users to hold project tokens. Besides, there is a token burning mechanism to reduce inflation to keep the PNG prices firm in the market. 

UX Redesign: Upgrading the interface to improve user-friendliness that brings them the best experience.

Rewards Pairs: Adding more liquidity pairs, increasing liquidity pairs rewards to incentivize users.

Governance: Improving the governance system will give users and the project more accessible to vote on the changes they want. 

Onboarding: Educating and onboarding new users into DeFi and Avalanche is an important mission of Pangolin. 

Partnerships: Finding and collaborating with partners to promote liquidity and improve features.

Bridges: Building the infrastructure to push liquidity is another goal that Avalanche is working on. Projects on Avalanche are currently not connected to each other seamlessly. Pangolin is participating in many projects and researching to connect projects to the ecosystem.

Becoming a premier DEX: The roadmap for the remainder of 2021 will require continued engagement from their community, close collaboration with current and future partners, and gradually building out a strong core team to deliver on crucial features.

This roadmap will establish Pangolin in a solid position in the DeFi landscape. After establishing a solid foundation with the current roadmap, more exciting innovations in a V2 roadmap will be revealed later.

Team, Investors, and Partners

Team

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Investors

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Partners

Currently, Pangolin integrates with Velox Trading Box, Penguin Finance, Markr.io, Spore, Avalaunch, DeFi Yield Protocol (DYP), and so on. 

Conclusion

AMM is always one of the most powerful categories in DeFi, as seen by the success of AMM projects on other ecosystems such as Uniswap on Ethereum and PancakeSwap on Binance Smart Chain. Avalanche is a developing ecosystem that has made considerable advancements over prior attempts. Pangolin is gaining strength as a result of receiving this advantage.

I hope you have gained all of the important information about Pangolin & PNG Token, including its features and highlights throughout this article. If you have questions or suggestions, please comment below and join Coin98 Community for further discussions. Thank you and see you again in the next ones.