What is PENGU?

Introduction to Pudgy Penguin Coin (PENGU)

If you’re a fan of Pudgy Penguins, you’ve probably heard the buzz about $PENGU – the official token of this wildly popular NFT collection. Pudgy Penguins started as 8,888 cute and quirky penguin-themed NFTs on the Ethereum blockchain in 2021 and quickly grew into one of the most beloved projects in Web3. But in December 2024, the penguins took a bold leap forward by launching $PENGU on the Solana blockchain – and the hype hasn’t cooled down since.

Here’s everything you need to know about $PENGU and why this token is making waves in the NFT and crypto communities.

What is PENGU?

$PENGU is the native token of the Pudgy Penguins ecosystem. It was designed to grow the community, reward loyal holders, and bring more people into the adorable world of Pudgy Penguins. The name “PENGU” comes from the nickname that fans affectionately gave their penguin NFTs.

The launch on Solana in late 2024 marked a new chapter for the project. By moving to Solana, Pudgy Penguins aimed to reach a broader audience thanks to the blockchain’s speed and low transaction costs.

PENGU Tokenomics

The total supply of $PENGU is a fun and fitting 88,888,888,888 tokens (penguin vibes, anyone?). Here’s how it’s been divided:

• 25.9% went to the Pudgy Penguins community, including holders of Pudgy Penguins, Lil Pudgy, and other collectibles.

• 24.12% was allocated to new communities, aiming to bring 5 million new members into the fold.

• 12.35% went toward liquidity on decentralized exchanges to create a thriving market for the token.

• 17.8% was reserved for the project team, locked up with a 1-year cliff and 3-year vesting period.

• 11.48% went to development and marketing efforts.

• 0.35% was given to FTT holders (from the defunct FTX exchange).

• 4% was dedicated to public good initiatives, staying true to Pudgy Penguins’ mission of “spreading good vibes across the meta.”

And here’s the exciting part : 25% of the total supply was airdropped to active users in the Solana ecosystem. Even if you weren’t a Pudgy Penguins holder, you could still snag some $PENGU just by being active in Solana dApps like Phantom and Jupiter.

How to buy PENGU on Hata

1. Create an Account: Sign up on the Hata platform by providing your email address and setting up a secure password. Verify your email to activate your account.

2. Verify Your Identity: Complete the KYC (Know Your Customer) process by submitting the necessary identification documents as required by Hata for security purposes.

3. Deposit Funds: Add funds to your Hata account.

4. Navigate to $PENGU: Once your account is funded, go to the cryptocurrency marketplace on Market Instant Buy and search for $PENGU.

5. Place an Order: Decide on the amount of $PENGU you wish to purchase.

6. Secure Your $PENGU: After purchasing, ensure your $PENGU is stored securely. You can keep it in your Hata wallet.

7. Monitor Your Investment: Keep track of your $PENGU investment through the Hata platform. Stay updated on market trends and news to make informed decisions.

Final Thoughts

The launch of $PENGU was a game-changer for Pudgy Penguins, solidifying its spot as one of the most exciting projects in Web3. By going multichain, the penguins are spreading their wings (or flippers?) to bring good vibes to a wider audience. Whether you’re a long-time NFT collector or new to the scene, $PENGU is worth keeping an eye on.

DISCLAIMER & WARNING

The information provided here is presented "as is'' and is intended for general informational and educational purposes only. It does not come with any representation or warranty of any kind. This content should not be interpreted as financial, legal, or other professional advice, and it is not intended to endorse or recommend the purchase of any specific product or service. It is advisable to consult with appropriate professional advisors for personalised guidance. In cases where the article is contributed by a third-party author, please note that the expressed views belong to the author alone and may not necessarily reflect the opinions of Hata. For further details, we encourage you to read our complete disclaimer. Please be aware that the prices of digital assets can be highly volatile. The value of your investment may increase or decrease, and there is a risk that you may not recover the full amount invested. You are solely responsible for making your own investment decisions, and Hata cannot be held liable for any losses you may incur. This material is not to be construed as financial, legal, or other professional advice. For more information, please refer to Hata’s Terms of Use and Risk Warning.