Pangolin

Pangolin Decentralized Exchange on Avalanche

By Heath Muchena | Decentralised News | 13 Apr 2022


What is Pangolin?

Launched in 2021, Pangolin is a decentralized exchange on the Avalanche Network. Utilizing a similar automated market maker model to that of Uniswap, Pangolin managed to facilitate over $10 billion dollars in trading volume within the first year of launching. PNG is a community distributed native governance token of the ecosystem, usable for trading tokens on Avalanche and Ethereum.  

Benefits of Using Pangolin

  • Pangolin offers fast and cheap trades. Pangolin users are able to swap assets while enjoying sub-second transaction finality and transaction fees as low as a few cents. 
  • The project’s development is community-driven.
  • All PNG tokens are distributed directly to the community to promote fair and open token distribution.

Features on the Pangolin Platform


Users can swap tokens with the automated market maker (AMM) exchange. All a user needs to do is launch the app to access the swap feature.

fac9933023fcd90852b90a54ce86550fd6b266a134928504ea5be05940619cbd.png

Source: https://app.pangolin.exchange/#/swap 

Users can execute limit orders and also trade with leverage on MarginSwap or WOWswap.

129b5150ba8d45644fef62c7f4b477c5a8d72c1bd48a306632d5de5c2d8519d6.png

In order to get started on Pangolin a user needs to connect a Web3 wallet such as MetaMask.

98166ef29abed85b101ca60b9725d481a716ee63b8059e60a31667166e8dcdf6.png

Wait to connect to your web3 wallet.

5eb2b91ee29157802acc40b80d4e58c23af9b39917c77112e605c8a0fc6c15fc.png

Log into your wallet.

1bae2b77880435f696a8d0fd748e9e1e247c500e8b36bc70f388ea3a274c0aa0.png

Connect to your default wallet if you already have MetaMask set up or set up a new wallet. 

d93c047e81d5f75e1610f5747ff2dec909c2a486283d91541039a8a172f71d45.png

Choose which blockchain network you’d like to transact on. In this case, we switched from the Ethereum network to Avalanche.

c2cf2478eb96a2531e43bbcd88de4e4f984fdf7b54bed01fefe7f69503681fcc.png

Once your wallet is connected, you’ll be able to process your swaps or buy AVAX which is the native ecosystem token of the Avalanche network. You can purchase AVAX tokens with fiat via Pangolin’s fiat gateway provider Wyre. You can use a Visa, Mastercard and even Apple Pay.

b895b5b0c8d9a284558314c08b48479938905154de0a14f4b9ae09e41d12f88e.png

Pangolin has other ecosystem partners helping them deliver offerings to users effectively. Some of their partners include Coin98, Beefy Finance, TrustSwap and many others.  

8f2d88d24fd652be42524c9b1dcf206fa153d05ba32322071dbeddaf502f397f.png

427ea46053bad250df940e08210522c8456c6655787779ffde51a860e0d71d4d.png

Users of Pangolin can exchange a number of different tokens on the exchange. As a user, you can also track your portfolio and token watchlist.

18bbb856c9a0241ef9fc96aef29477bb33b3e9b7686e01a7ff972f1cc392c6fc.png

Liquidity Pools on Pangolin

Users of Pangolin are able to add or remove liquidity on existing pools or create entirely new liquidity pools. If you’re a PNG token holder, you can add liquidity and receive PGL tokens which are effectively seen as a representation of ownership of the pool.

796a4539e5ea2926b18bca4f51365008e9c47aac38f91033a1c8e4b9034324ab.png

Once liquidity is added, a user is able to use the PGL tokens to earn PNG. By adding liquidity, a user can earn 0.25% of all trades on the pair that they choose, proportional to their share of the pool. Fees are added to the pool and these fees in fact accrue in real time and can be claimed by withdrawing liquidity. Read a more comprehensive guide on managing liquidity on Pangolin here

Farming & Liquidity Mining on Pangolin 

On Pangolin, users can deposit their Pangolin Liquidity Provider PGL tokens in order for them to receive PNG which is the Pangolin protocol governance token. Pangolin allows users to stake LP tokens into super farms and earn PNG along with other incentive tokens.

dea0f9b0ae01332a4756fde2d54e042e7e6689a100534d718b89ad659fa7878b.png

Source: https://app.pangolin.exchange/#/png/2 

It is important for users to understand that there is a difference between yield farming which focuses on gaining the highest yield possible in DeFi and liquidity mining which focuses more on providing liquidity to a DeFi protocol. Staking on the other hand focuses on helping to secure a blockchain network. 

Staking on Pangolin

6850f6e5d7dd99daceb0f2c972c21c658bf236b129c4fc0869fe56dee45dfdb5.png

Users of Pangolin can also stake their PNG tokens in order to earn more tokens. Currently PNG tokens are available for trading on exchanges such as Gateio & MEXC

45cf2dfc7dba929ee8cec107c99b34b8fdc9a51a801ab82492074858a904fbcd.png

Users can also access bonding via Olympus Pro’s marketplace. Bonding is essentially a mechanism that allows a user to sell assets to a protocol in exchange for its native token. Read more about bonds here. PNG is the native token of Pangolin’s ecosystem and it has different use cases including for participating in ecosystem governance. 

Originally posted on Decentralised News

Check out our YouTube channel

Subscribe to our newsletter: https://decentralised.news/newsletter/

Recommended crypto platforms: https://decentralised.news/ecosystem/

Crypto resources: https://decentralised.news/resources/

Read the best selling book: TOKENIZED TRILLIONS: https://amzn.to/3BA2TOv

Also check out: BLOCKCHAIN APPLIED: https://amzn.to/3oT6QKU

Get FREE Bitcoin Breakthrough eBook: https://www.funnelbuilda.com/bitcoin-breakthrough-ebook

Join our Discord Channel: https://discord.gg/EcvqQaNzsD

Join our Telegram Group: https://t.me/+cTexh7QC3D9mNj

 

How do you rate this article?


12

0

Heath Muchena
Heath Muchena

Founder, Decentralised News & Proudly Associated Author, Journalist For more about me: https://linktr.ee/heathmuchena


Decentralised News
Decentralised News

For the latest in blockchain & digital assets visit https://decentralised.news/

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.