In order to reward our most long-term investors and attract new ones, we have made it our priority to dramatically increase the perks and utility that penguins in the Nest currently enjoy. Every day, we’re thinking and developing new and innovative applications to bring value to our penguins.
A fundamental step in the right direction is the introduction of our Club Penguin dApp, designed to give xPEFI utility beyond the lucrative APYs that it already offers. Now, you’ll be able to earn new tokens from popular Avalanche projects by simply staking your xPEFI in the Club. This dApp is exclusive to penguins in the Nest, so make sure you start staking if you haven’t already!
How it works
The Club Penguin will function as a single-asset xPEFI staking protocol, think of it as “stake-ception”. You stake your PEFI and get xPEFI, which you can then stake in different contracts to earn tokens from your favorite projects native to Avalanche. We will provide plenty of options, all without risk of impermanent loss.
Our pools will be called Icebergs and will be displayed in the main app as a separate tab. You won’t have to unstake your xPEFI to participate in these pools and earn free tokens, as your xPEFI will continue to grow in value regardless.
These past few weeks, the Penguin Finance team has been scheduling multiple meetings with different projects throughout the ecosystem. The purpose of these meetings is to introduce other dApps to the Club Penguin, and form lasting relationships with these projects. We’ve designed the infographic below which we presented to the teams at Snowball Finance, Sherpa Cash, AVME, Gondola, Lydia, ELK, and others to benefit all communities mutually and help grow the Avalanche network as a whole.
About Penguin Finance
Penguin Finance is a platform powered by Avalanche building an innovative set of decentralized applications, financial products, and documentation for both technologically savvy individuals and those with absolutely no knowledge of cryptocurrency.
We’re bridging the gap between DeFi and mass adoption by offering ultra-low fees, an intuitive UX design, and the best documentation/tutorials. PeFi is made for penguins, by penguins.