PeFi Weekly Digest #2: Penguin Emperor, UI Launch, Burning, and more! (April 26th, 2021)

A letter to the Penguin Community from your penguin companions, Cody Maverick and Bisbis

As is the norm with these weekly digests, we’ll start by listing some of our achievements and statistics within the Avalanche ecosystem

• Counting the Nest, PeFi currently has $6.9 million TVL, comfortably sitting at the 4th spot on Avalanche
• Nests currently hold 19% of all circulating PEFI! That means that 19% of PEFI is locked and HODLers trust that the token value will continue to appreciate, with sell pressure decreasing as a result.
• 252,466 PEFI has been burnt to date! That is 1,23% of the max supply and, at time of writing, 9.11% of the current supply!
• A new igloo is up and running! With a whopping 1300%+ APY, PEFI-SUSHI is our most profitable igloo at the moment.
• Our new dApp was announced! The Emperor Penguin dApp is our spin on King of the Hill, with everyone bidding xPefi to become the Emperor and half of all rewards going to nest holders!

UI Launch 💻

With the user-interface launching on the 15th April 2021, our penguins can finally yield farm and stake in a couple clicks! No more need to interact with “raw” contracts as our penguins called them. With the regular addition of little teasers and easter eggs, users who interact with the UI have already been able to enjoy the teaser for the upcoming Penguin Arena. By integrating the penguin brand into every aspect of user interaction, we ensure that you feel at home and have fun while securing PEFI rewards.

The UI launch was well received by our users, and by focusing on small details and making sure the code was internally audited, we guaranteed a bug-free launch. Since then, our UI has received frequent improvements and added features, such as burning statistics and xPEFI to PEFI ratios.

New Igloo 💸

With the launch of our new PEFI/SUSHI igloo, we brought an additional farming option to our penguins. Providing liquidity shouldn’t be limited to a select number of pools, which is why we’re planning to add more igloos every month. Plenty of valuable and safe tokens are on our list, and we’ll be listening to your feedback to bring the communities’ favorite pairs to life.

Penguin Emperor👑

In a matter of days, our penguins will participate in our new King of the Hill dApp! Penguin Emperor. This dApp will present a bidding mechanism with underlying tokenomics that will surely entice our penguin investors. Have fun while earning xPEFI rewards and burning PEFI in the process! Additional information on the Emperor Penguin dApp will be provided in another article that will be published alongside the app. We have been able to test it internally and let us tell you, it is incredibly exciting.

Burnt PEFI 🔥

Based on our underlying tokenomics, we have bought back and burnt over 9.11% of the supply that has been minted in 3 weeks, therefore increasing the price of PEFI for years to come! PEFI is being burnt at such a fast rate that at one point over 10% of what would’ve been circulating supply was burnt. By implementing this deflationary mechanic into the core of our tokenomics, APRs have increased for our investors and token price hasn’t suffered as much as it would’ve otherwise.

Thanks to community proposals and voting that occurs in our discord, burning LP tokens and buying back PEFI has been modified to once every 12 hours on average! Burning only occurs if there’s over $5000 worth of PEFI in the address, and when our automatic burning functionality becomes available, we will look at having another vote to allow for this process to be averaged out at exact times and when exact amounts are met.

Final Thoughts

Thank you for reading all the way to this point and supporting the penguin movement! We have been working hard behind the scenes to answer all of your inquiries and will continue to provide further aid to all our penguin companions. From now on, these digests will become a common weekly occurrence and more information will be streamlined to our community!

We are building a product that belongs to all of you, the penguins, as much as it belongs to us. The dApps, projects, and future charity events are all possible thanks to your engagement and decisions. It is our firm belief that you will all be able to boast to your friends how you made the right call by HODLing PEFI.

A Penguin riddle

We just received this telegram from our fellow space-penguin Guin Guin on the Falcon 9 yesterday. We are having some trouble decoding it, so we will offer a 100 PEFI reward to the first penguin that manages to decipher it and send us a message on Discord, Telegram, or Twitter with the answer of the question deciphered. What could the answer be?

“. — …. .- — / .. … / — …. . / -.-. ..- .-. .-. . -. — / .-. .- — .. — — / — — ..-. / . — . . ..-. .. / — — — / -..- . — . . ..-. .. .. — ..”