Key Takeaways
- Pudgy Penguins launches the PENGU token, with Binance asserting spot buying and selling and an airdrop.
- Pengu token’s complete provide is about at 88.88 billion, with important allocations to the group, NFT collections, and the Pudgy Penguins staff.
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Pudgy Penguins, the second-largest NFT assortment by market cap, introduced that they may launch their PENGU token tomorrow.
Tomorrow. $PENGU. pic.twitter.com/80LHuf9vZj
— Pudgy Penguins (@pudgypenguins) December 16, 2024
The official Pudgy Penguins X account posted a video showcasing a Pudgy Penguin holding a token engraved with a penguin image, representing the brand new PENGU token.
Following this announcement, Binance shared its replace on X, confirming that it’ll launch PENGU for spot buying and selling with pairs together with USD, BNB, FDUSD, and TRY.
Moreover, Binance introduced an airdrop for PENGU, which shall be distributed to customers collaborating in Binance’s HODLer Airdrops program.
The token launches with a complete provide of 88,888,888,888 PENGU tokens.
The distribution allocates 25.9% to the Pudgy Penguins NFT group, whereas 24.12% is designated for different NFT communities together with Azuki, Bored Ape Mutant Ape, Doodles, and Memeland.
The venture staff receives 17% with a one-year cliff and three-year vesting interval.
Further allocations embody 12.35% for liquidity swimming pools and 11.48% for Igloo Inc., Pudgy Penguins’ father or mother firm. Public items {and professional} model enlargement will every obtain 4% of the availability.
Pre-market buying and selling knowledge from Whale Market exhibits PENGU buying and selling at $0.05 per token, implying a completely diluted market worth of $4.4 billion.
The information of PENGU’s launch follows the current surge in Pudgy Penguins NFTs, as the ground worth of the unique NFTs surpassed the $100,000 mark.
Since then, the ground worth has continued to rise, reaching a staggering 33 ETH, which is presently valued at over $133,000, with ETH buying and selling simply above $4,000.
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