Pudgy Penguins, one of the most popular NFT projects, will launch a cryptocurrency called Pengu later this year. The announcement was made by the Pudgy Penguins team in an X post on Thursday.
A new token, PENGU, is now available on the Solana blockchain, giving millions of Pudgy Penguins fans, and many others who know the adorable characters, the opportunity to join the community with a new cryptocurrency It is designed to.
Source:X
According to the team, there are a total of 88,888,888,888 PENGU tokens in existence. Pudgy Penguins NFT is based on the Ethereum blockchain, while PENGU is launched on Solana.
Distribution of PENGU tokens will be as follows.
23.5% will be transferred to current Pudgy Penguins NFT holders. 22.02% applies to both Ethereum and Solana communities. 12.32% will be used to provide liquidity on decentralized exchanges.
Also, a significant portion is allocated to the team and community. 25.9% of the tokens will go to the Pudgy Penguins community, and 24.12% will go to other communities, including new members of the “Huddle” group.
The Pudgy Penguins core team will also receive 17.8%, but there is a one-year cliff and three-year vesting period before they can access these tokens. The company itself will hold 11.48% of the token supply, with similar vesting conditions.
Since its launch in 2021, Pudgy Penguins has become one of the most successful NFT projects. The collection consists of 8,888 unique penguin NFTs and has been so popular that it has also secured retail partnerships with major stores such as Walmart and Target.
Currently, the floor price for Pudgy Penguins NFT is approximately 17.90 ETH, or approximately $68,535. According to CoinGecko, the collection's market capitalization is estimated at $609 million (159,086 ETH). In just one day, trading volume increased by 212% to 2,877 ETH (approximately $8 million).
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