Penguin Finance is an exciting new Avalanche project working to bring yield farming, decentralized prediction markets and NFTs to the Avalanche Network. Many dApps are only accessible to those who are technologically savvy, which is why we’re building Penguin Finance with the common folk in mind; so that even your outdated uncle can follow our user-friendly documentation and intuitive design.
As a team of developers, designers and business-oriented people from all around the world, we understand the frustration of being excluded from traditional DeFi. Not everyone can afford to pay exorbitant gas fees to simply interact with smart contracts, hence the reason we decided to build on the Avalanche Network.
The Token ($PEFI) 🐧
The PEFI token is the lifeblood of the Penguin Ecosystem. As a way to incentivize the growth of the Penguin Finance (PeFi) ecosystem and ensure that it is always expanding, mechanisms will be implemented so that fees paid for services within the PeFi ecosystem (Prediction Market fees, NFT minting & sales, Yield Aggregation, etc.) will end up unanimously distributed to $PEFI token holders’ wallets. Additionally, $PEFI holders will be able to dictate the future of the protocol through the Penguin DAO.
As the project continues to grow we’ll be implementing token burning mechanisms to further boost the value of $PEFI and ensure all Penguins’ wealth continues to skyrocket.
Fair Launch & Tokenomics 💰
The whole nature of PeFi is that it is being built for Penguins by Penguins. We believe that most IDOs, ICOs and other centralized methods of distribution entirely contradict the nature of decentralization.
As true believers of Penguin Finance, the Penguin Foundation is using their own money to fund the project and expenses that come with pursuing such an ambitious mission. The 10% Team Distribution will be used to further hire the best talent in the crypto space to ensure that the penguin vision becomes a reality.
There will be no pre-mine, ICO, IDO or Venture Capital involved with the distribution of the ecosystem’s native token: $PEFI. The token will be distributed to the entirety of the community through airdrops and incentives.
We also understand that marketing plays a huge role in the success of a cryptocurrency. We’ve seen countless projects with great teams fail to get a following because they have the technology but lack the means to promote themselves. That is why 5% of the total PEFI supply will be used to promote the project as well as create giveaways for the community.
In order to reward both $PEFI stakers and liquidity providers for their contribution to the ecosystem, 50% of the total $PEFI supply is allocated for this purpose alone. Another 25% of the distribution’s allocation resides in airdrops, as we believe this is the fairest method to distribute our token to the community.
Yield Farming 👨🌾
Initially, three main pools will be incentivized. There will be a grace period in order to reward Penguins who are early to the project. During this period, stakers and liquidity providers will receive a bonus $PEFI yield for their contribution to the pools and the PeFi ecosystem as a whole.
Furthermore, ERC-721 collectibles will be distributed amongst initial adopters. These NFTs will be redeemable for perks within the Penguin Finance ecosystem in the near future.
In order to both fairly distribute PEFI and ensure we can grow the community alongside other great projects building on Avalanche, the PEFI token will be airdropped to token holders and users of different projects within the $AVAX ecosystem.
To ensure the fairest distribution, details of the PEFI Airdrop are top secret. We’re working to ensure ALL Penguins can get a piece of the pie.
Penguin DAO 🐧
The Penguin DAO will be a community operated organization that will eventually dictate fees, token mechanisms and operate PeFi for the betterment and self sustainability of the Penguin Ecosystem. 10% of the PEFI supply will be distributed to the Penguin DAO’s treasury which will later be used by the community for implementing different proposals that arise, furthering the Penguin Vision of a decentralized finance ecosystem built and accessible for everyone.
Given the fact that the project is in its early stages and voting features aren’t yet live, the Penguin DAO’s funds will remain locked until the DAO can become self governed. For Penguins by Penguins is our motto.
Penguin Finance: For Penguins, by Penguins.
Disclaimer: Although the Penguin Dev Team has worked around the clock to ensure all contracts are audited by both internal and external parties, interacting with DeFi protocols as a whole carries risks. $PEFI isn’t being sold, it is being fairly distributed to the community and thus holds no intrinsic value ($0.00). As with all crypto projects, always remember to Do Your Own Research (DYOR) and make sure you know all risks before interacting with ANY smart contract.