Dear Penguins, there’ve been a lot of developments taking place behind the scenes as we begin to explore new territory in DeFi and expand our use case. Several partnerships throughout Avalanche have been established for the Club Penguin & Penguin Launchpad which should propel the project to new heights. We are confident that it’ll all start coming to fruition very soon, so it’s important to highlight our trajectory and goals going forward.
At the beginning, Penguin Finance was mainly a yield farming protocol. Our plan was to attract as many users to our platform as possible with these potential gains, and therefore make a name for ourselves. This proved to be a success, as we’ve already gained said recognition and have grown to be the second biggest project on the network. Now we’re shifting our focus and began to search for new avenues for growth.
Going forward, we will continue providing the tools necessary to yield-farm consistently. We’re taking a more sustainable approach as our concern for token value and decreased inflation grows. We’ve always planned on being a long-term project and as our token use case increases we must protect holders above all else. The launchpad, compounder, and collectibles will give our Penguins a new perspective of what it means to be a Penguin.
xPEFI (Penguin Nest) is getting a massive overhaul
In order to reward our most long-term investors and attract new ones, we are going to dramatically increase the perks that penguins in the Nest currently enjoy. A first step is the upcoming airdrop to the nest, which you should definitely take advantage of if you’re interested in free PEFI.
On top of that, there will be exclusive utilities that xPEFI HODLers will enjoy:
- Penguin Launchpad: Exclusive access to token sales of upcoming projects on Avalanche.
- Club Penguin: Access to free tokens from your favorite Avalanche projects (single-asset xPEFI staking).
- Auto-Nesting: An integration of xPEFI directly on the Penguin Compounder (50% of all rewards from igloos are sent to the nest).
- Voting Power: Ability to vote on PeFi’s future when on-chain governance is implemented.
These features are already in progress and you’ll start enjoying most of them within the coming month! Current perks and rewards, such as fees from the entire ecosystem will remain in place as well.
PEFI Emission Rates
The $PEFI token is the lifeblood of the ecosystem and must therefore transition to become deflationary. This will protect the wealth of all investors within our ecosystem, foster the scarcity of PEFI and thus increase the buy pressure over time.
In order to achieve this it is essential that PEFI emission is reduced. We’re confident this will have a huge positive impact on the long-term value of the project. Eventually, $PEFI will become completely deflationary, meaning that over time the amount of circulating tokens decreases.
The slashing of emission rates will occur throughout various decreases in the following 2 weeks. Penguins might experience a decrease in the PEFI they receive from Igloos, but as sell pressure decreases this will increase token value and help APYs increase.
We are happy to announce that a lot of progress has been made when it comes to the Launchpad. We’ve already lined up several projects that offered us their token using our Launchpad service. Official announcements will be made in the coming weeks as we finish structuring everything and publish the guidelines for participating in the Launchpad.
How can you get access to the exclusive token sales? xPEFI will be the token that determines your allocation for all sales that take place on the Launchpad. You should start stacking as much xPEFI as possible in order to increase your stake within the coming token sales. To make this task much simpler for you, the upcoming Penguin Compounder will automatically distribute a percentage of Igloo rewards to the Nest, granting you the option to smoothly transition from Igloos to Nests.
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.