Data source: Pudgy Penguins official website, Golden Finance, Twitter Compilation: Golden Finance

December 2024 On the 16th, Binance announced that the Binance HODLer airdrop has now launched the fifth phase of project Pudgy Penguins (PENGU), an NFT (non-fungible token) collectible built on Ethereum.

Use the BNB subscription and earning platform from 08:00 on December 9, 2024 to 07:59 on December 13, 2024 (East Eighth District time) Users of regular and/or current products will receive airdrop allocations. HODLer airdrop information is expected to go live within twelve hours, and new tokens will be distributed to users’ spot wallets 1 hour before trading begins.

Binance will list PENGU at 22:00 on December 17, 2024 (Eastern Eighth District time), and open trading for USDT, BNB, FDUSD and TRY trading pair. Seed tag trading rules apply.

1. PENGU HODLer airdrop details

Token name: Pudgy Penguins (PENGU)

Generation Total current supply of tokens: 88,888,888,888 PENGU

Maximum supply of tokens: 88,888,888,888 PENGU

Total amount of HODLer airdrop tokens: 2,666,666,666.64 PENGU (accounting for 3% of the maximum token supply)

Circulating supply before Binance listing: 623,125,000 PENGU

Smart contract details: Solana, 2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv

BNB position hard cap: average BNB position number of a single user/total average BNB position number*100% ≤ 4 %, (if the holding ratio is greater than 4%, the BNB holding ratio will be calculated as 4%)

2. Introduction to Pudgy Penguins project

What is PENGU, Pudgy Penguins token?

PENGU is the native cryptocurrency token launched by Pudgy Penguins, a popular NFT project aiming to expand its presence in the blockchain ecosystem influence. PENGU is launching on the Solana blockchain to drive community engagement and support the project’s broader goals.

Key Points

PENGU is the official token of the Pudgy Penguins NFT series, which includes 8,888 unique cute penguin cartoon images.

The Pudgy Penguins NFT series was first launched on the Ethereum blockchain and has grown to become one of the largest NFT projects by market capitalization. It has recently surpassed BAYC to become the second largest NFT project by market capitalization.

PENGU will be launched on the Solana blockchain, aiming to expand the project's community and attract new users. Multi-chain deployment is planned and will be extended to include other blockchain networks such as Ethereum and Abstract.

Pudgy Penguins, one of the largest NFT series built on the Ethereum blockchain, will launch a native token – PENGU. While Pudgy Penguins wasn’t the first major NFT project to launch a native token, it weathered the “NFT winter” and eventually became the second-largest NFT project by market cap after CryptoPunks.

2. Unique features of PENGU token

1. Short preparation period

Although rumors about Pudgy Penguins’ plan to launch a token have been circulating for years, the official announcement was not made until December 5, stating that PENGU will be officially launched in 2024.

Usually, airdrops related to assets or ecosystems will have a long preparation period (number ofmonths or even years), and there will be strong signals heralding the launch of the token, or locking in short investment prices by announcing a snapshot date. PENGU, however, did not take such a route.

This triggered an enthusiastic response from the NFT market:

•Pudgy Penguins’ bottom price started from Around 16 ETH (~$61k) rose to 23 ETH (~$83k).

•Lil Pudgies (its sub-series) base price increased from ~1.7 ETH (~$6.5k) to 2.5 ETH (~$9k).

Data source date (December 10)

3. Tokens Positioning

Is PENGU a meme coin, a utility token, or a cultural token?

It seems that it is a combination of the above three and may take on more roles in the future. Currently, it is described as the official token of Pudgy Penguins, serving the NFT project positioned as the "face to cryptocurrency."

While self-proclaimed "cryptocurrency facade" is a subjective statement, Pudgy Penguins does have a solid foundation to back up this claim:

•34 billion GIF views: Almost everyone has seen a Pudgy Penguins GIF;

•1.6 million Instagram Followers: Cute and relatable content;

•522,000 TikTok main account followers, and 1.1 million Pudgy Kindness account followers;

• More than 1.5 million Pudgy toys have been sold worldwide and can be found at retailers including Walmart, Target and Amazon.

For those new to cryptocurrencies, PENGU offers a new way for Pudgy Penguins fans to develop a deeper connection with the characters, brand and intellectual property (IP) beyond the confines of to buy toys or interact with content.

This is consistent with my earlier point about holding PENGU. Tokens, can be seen as a new way to be Pudgy Penguins The owner or stakeholder of a brand has a similar meaning to buying shares in a company. To some, it is an investment; to some, it is an investment. For others, it is a way to express fan identity; or a combination of both. In addition, as the brand grows, the use of tokens may further expand.

Token economy. Learn

Pudgy Penguins Presents its token economic model in a new and interesting way instead of the traditional 20-page white paper and pie chart

This cute style fully reflects the brand identity of Pudgy Penguins

•Total supply: 88,888,888,888 (8.89 billion pieces), a tribute to the 8,888 NFTs in the original Pudgy Penguins series;

•Claim deadline: 88 Days

Two allocation details stand out:

1. Other communities:

About 24% of tokens will be allocated to "other communities", the proportion allocated to the Pudgy holder community (approximately 26%)

On the surface, this may seem unfair to the Pudgy community, but the distribution explains the decision:

< p style="text-align: left;">• Pudgy The holder allocation will cover approximately 15,000 wallets;

• Other community allocations are for approximately 5 million wallets.

This is in stark contrast to 6th Man Ventures’ analysis of token design and distribution, which found that compared to airdrops focused on core users, large Scale airdrops tend to perform worse.