PENGU: Everything You Need to Know About the Pudgy Penguins Solana Token and Airdrop

After amassing greater than 50 billion social media views and inserting toys on cabinets in Walmart and Goal shops throughout the nation, Ethereum NFT venture Pudgy Penguins has launched a token. 

Information of the deliberate token launch despatched the Pudgy Penguins ground worth skyward, breaching $100,000 and turning into the second largest profile image (PFP) venture in all of NFTs. 

“A founder’s job in crypto is to maximise for optimum pleasure,” mentioned Pudgy Penguins IP proprietor Luca Netz in a video interview with crypto personality ThreadGuy. 

Now the token is dwell as of at the moment, December 17. This is every part it’s good to find out about PENGU on Solana, the tokenomics, and the way eligible customers can declare it.

What’s PENGU?

PENGU is the Pudgy Penguins ecosystem token that is now dwell on the Solana blockchain. It has a complete provide of 88.88 billion PENGU tokens, 25.9% of that are put aside for members of the Pudgy Penguins ecosystem by way of an airdrop declare.

“By launching PENGU on Solana, Pudgy Penguins grows by reaching a wholly new viewers,” said Igloo Inc, the Pudgy Penguin guardian firm on X (previously referred to as Twitter). 

Although the token first launched on Solana, it should finally develop to Ethereum and Abstract, the consumer-focused Ethereum layer-2 scaling community being constructed by Igloo Inc. 

To Netz, the PENGU token presents the thousands and thousands of Pudgy Penguin followers world wide to raised join with the model, suggesting that tokenization at its core is “alignment.” 

When is PENGU dropping?

PENGU launched as deliberate on December 17, 2024. Official hyperlinks and declare particulars will solely be shared and introduced from the Pudgy Penguins account on X.

Plenty of copycat tokens have been created and traded forward of the launch, trying to dupe traders into shopping for an asset with the identical or an identical title. With the official PENGU dwell now, although, it needs to be extra apparent which token is the true one with regards to shopping for from exchanges.

Who will get the PENGU airdrop?

Greater than 88 billion PENGU tokens have been minted on the Solana blockchain, break up amongst a handful of holder classes as outlined by the Pudgy Penguins announcement. 

Decrypt has reached out to Pudgy Penguins to realize further readability on particulars associated to its token distribution. Numbers under are estimates primarily based on an informational graphic offered by Pudgy Penguins. 

25.9% : Pudgy Neighborhood

The biggest allocation of PENGU tokens is reserved for the Pudgy Penguins neighborhood, together with however not restricted to Pudgy Penguins, Lil Pudgys, and Pudgy Rods (aka Rogs) NFT holders.

House owners of the principle Pudgy Penguins NFTs reportedly acquired an allocation of simply over 1.7 million PENGU, whereas Lil Pudgy homeowners acquired over 188K PENGU, and Pudgy Rod holders acquired between 105K and almost 195K tokens relying on rarity degree.

Undertaking lead Luca Netz confirmed that no snapshot was taken to seize holders, and as a substitute these holding the property on the time of token technology will likely be granted entry to PENGU. Unsurprisingly, Pudgy NFT costs plummeted as soon as the token claims opened; any NFTs up on the market have most likely already been used within the airdrop, and cannot be used once more to say extra PENGU.

24.12% : Different Communities

The subsequent largest bucket of PENGU tokens has been put aside for different communities in Web3 and doubtlessly past, with an expectation of buying 5 million new members of the Pudgy Penguin neighborhood, based on the announcement graphic. 

Communities that have been provided the “Elite” role in the Abstract Discord are also eligible for a PENGU claim, assuming they claimed the function and crammed out a type within the Discord earlier than the deadline.

The listing consists of however shouldn’t be restricted to the next communities: Plooshies, Doodles, Claynosaurz, Memeland, BoDoggos, Bitcoin Puppets, Nodemonkes, Azuki, Bored Ape Yacht Membership, Mutant Ape Yacht Membership, Wassies, Goblintown, Wonky Stonks, The Plague, Mocaverse, Onchain Gaias, and holders of a minimum of 1 billion Mog Coin (MOG).

Netz additionally indicated that consumers of Pudgy Toys that interacted with its on-line Pudgy World gaming platform and picked up “Pudgy Traits”—or attributes to equip to their digital Penguins—could be eligible for PENGU as effectively. House owners of Pudgy Toys can acquire entry to Pudgy World by scanning a QR code that got here with their toy. After scanning the code, customers are instructed to “collect the traits and wait for Abstract bridge to go live,” based on Netz.

17.8%: Pudgy Penguins crew 

Pudgy Penguins ecosystem staff, present and former alike, take the third-largest slice of PENGU, receiving almost 18% of the token pursuant to a one-year cliff and a three-year vesting interval. Throughout token distributions, a cliff usually disables the power for a person to promote or switch any tokens.

12.35% : Liquidity swimming pools 

A portion of the PENGU provide has been put aside to create ample liquidity for lively buying and selling of the token. 

11.48%: Firm 

Igloo Inc., the Pudgy Penguins guardian firm, will obtain 11.48% of the PENGU token, topic to the identical one-year cliff and three-year vest that Pudgy Penguin staff acquired. 

4% : Public Good

4 % of the PENGU token provide is put aside for public good efforts. Although not formally described, Pudgy Penguins has undertaken public good initiatives over the past yr with its Pudgy Kindness campaigns, sending funds and serving to underappreciated streamers go viral on social media. 

4%: Proliferation

One other small share of PENGU is put aside for efforts to develop the Pudgy Penguins model, doubtlessly via listings with centralized exchanges or model advertising and marketing efforts.

As a part of the launch on Binance, 3% of the PENGU supply will likely be airdropped to contributors of Binance’s HODLer program.

0.35%: FTT Holders

The smallest allocation of the PENGU token is put aside for FTT token holders. FTT is the native token of the notorious FTX change, which filed for chapter and ceased operations following its November 2022 collapse.

The token noticed a quick spike to almost $4 on the day of the PENGU announcement—a virtually one-year worth peak—however has since retraced. No official holding standards has been shared presently.

How one can declare PENGU

Pudgy Penguins has shared claim details via X, and customers have 88 days to say the token—till March 15, 2025. Any unclaimed PENGU will likely be completely locked, successfully faraway from the circulating provide.

The place are you able to commerce PENGU?

PENGU went dwell for spot buying and selling on the centralized crypto exchanges Binance, OKX, and Bybit, with extra anticipated to affix the fray. Moreover, customers can commerce PENGU by way of Solana-based decentralized exchanges, or DEXs.

Edited by Andrew Hayward

Editor’s notice: This story was initially printed on December 13, 2024. It was final up to date with new particulars on December 17. This story was initially written by Logan Hitchcock forward of the PENGU launch, however any post-launch updates have been made by Andrew Hayward.