penguin finance and pangolin

Penguin Finance x Pangolin AMA Recap

By WJH | Avalanche Defi | 1 Jul 2021


Penguin Finance team came together with Pangolin to do an AMA. In this article, I will recap the event.

AMA started with an introduction of the Penguin Finance team.

-Team lead Frostbyte, Alex from Mexico, Volkonik from France were participating in the AMA from the Penguin team. 

-At launch Penguin had a code ready for the 'swap' function on the website but decided not to launch it just because to keep their focus on what they are best at and at innovation. They believe that Pangolin is the king of AMM in the Avalanche Defi, so chose not to compete with Pangolin.

-Penguin and Snowball have a very close relationship. Even Frostybyte mentioned that if you invest in PEFI, it means you invest in SNOB as well and vice versa. His description tells us that these two projects are very close.

-Team is very careful about what token to launch on their launchpad. Tokens that will be accepted on the launchpad should have value and should be potentially beneficial to the Avalanche ecosystem. The team believes that Sherpa is a great project and happy to offer Sherpa token as a first launchpad sale.

-xPefi is the backbone of the Penguin Network economy. Network revenue is distributed among xPefi holders. There is a weekly decreasing paper hand penalty for people who hold xPefi and wants to switch back to PEFI. And eventually, this penalty will be 0. Currently, the paper hand penalty is burned. In the future, the team will introduce a new version of the nest where instead of tokens being burned as a paper hand penalty, paper hand penalties will be distributed with xPefi holders.

-Team is going to launch a gambling arena soon.

-CEX listing is not on the plan yet. 

-According to the community survey, 50% of the Penguin finance community is from Turkey, and the second-largest community is from France.

-Team will publish a statistic page on the website which will provide more transparency about fees being collected and distributed to investors.

-Token burns and fee distribution will be automated in the future.

-Team will create a governance protocol that will allow xPefi holders to participate in the network's decision.

-Penguin will have its NFTs, and they will be introduced at their blockchain games.

-Two new developers are hired and they are joining the team this week.

-Besides the Certik audit, there is an additional audit of auto-compounders in Penguin as well. This audit report will be published with the community soon.

-Sherpa launch will be in 2-3 weeks or even can be earlier.

-Emperor Blitz will go live soon. In one-two day.

 

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WJH
WJH

Nonstop exploration of the rabbit hole. Interested in Blockchain & Token Economics. Nice&Wise.


Avalanche Defi
Avalanche Defi

I write everything AVALANCHE. In this blog, you will learn about new innovations happening in the Avalanche ecosystem as well as high you can utilize the power of fast, decentralized, and secure blockchain's DEFI applications. I explain how to use DeFi projects such as Snowball, YieldYak, Pangolin etc.

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