Penguin Launchpad: Allocation Staking for BOOFI is LIVE

4 min readSep 24, 2021

Beginning this Friday, September 24th, Penguins will be able to stake their iPEFI tokens to receive allocation points (AP) for the $BOOFI token offering!

When staking your iPEFI in the Penguin Launchpad, your tokens will be locked for 14 days and you will continue to benefit from the growing value of iPEFI even whilst it’s locked in the IDO contract. This 14-day lock period is individual to your wallet so the earlier you deposit the earlier it will unlock. There are no extra allocations for Penguins that stake early, so as long as you stake before the staking phase ends, you’ll receive your entitled allocation points for the BooFinance IDO.

Staking Phase & Distribution Phase Dates

The staking phase will end on September 29th 23:59 UTC and the distribution period will begin shortly after on September 30th, 20:00 UTC. You must have staked your iPEFI before the staking phase ends to acquire BOOFI tokens through the Penguin Launchpad.

The distribution phase will last 7 days, ending on October 7th 20:00 UTC.

BOOFI Token Distribution

A total of 2,000,000 BOOFI tokens ($250,000) will be distributed through the Penguin Launchpad; a large portion of these at discounted prices.

The valuation of BOOFI at the time of the event is $250,000 given that no staking, team, developer, or marketing funds will be released until the protocol is live .Given that BOOFI’s max supply is 10,000,000 tokens, the FDV (Fully Diluted Valuation) at launch is of $1,250,000.

Users farming BOOFI LP pairs on The Cauldron (BooFinance’s yield farm) will earn bonus rewards, so a first mover advantage is granted to our Penguins once the platform goes live.

How can you participate in the Penguin Launchpad?

The amount of BOOFI you’ll be able to purchase will depend on the amount of iPEFI you hold. If you don’t have any PEFI yet, you can buy it through Pangolin or Trader Joe. Follow this guide to learn how to stake your PEFI into the Nest to receive iPEFI.

Once you have at least 500 iPEFI, you can head over to the Penguin Launchpad page to stake your iPEFI into our contracts to receive allocation points (relative to your stake & tier). Your iPEFI won’t be lost (it’ll actually grow in PEFI value) and should unlock 14 days after being staked. After staking, just wait for the distribution phase to go live and trade in PEFI for BOOFI. Remember, you’ll need additional PEFI to buy your allocation’s worth of BOOFI tokens, so keep some aside!

You can view the Penguin Launchpad participation tiers below.

How can I acquire BOOFI tokens for my entitled share?

You’ll be able to exchange PEFI to get BOOFI tokens at the exchange rate for your tier. The price of PEFI will be determined at the start of the Launchpad event. Hence, we recommend having enough PEFI to cover your allocation amount since it may fluctuate due to increased interest in the Penguin Launchpad.

Penguin x BooFinance Launchpad Tiers

Tier I: Ghoul (500 iPEFI minimum)

This is the minimum amount of iPEFI you must have to acquire BOOFI tokens through the Penguin Launchpad. If you don’t have enough iPEFI, you can participate in the upcoming Club Penguin initiative for free BOOFI, SHERPA, AVAX, and other tokens.

Any wallet with at least 500 iPEFI tokens will receive:

1 x Guaranteed allocation for every 500 iPEFI tokens.
BOOFI tokens will be offered at $0.125/BOOFI to Ghouls.
1 x Rare Ghoul NFT

Tier II: Reaper (10,000 iPEFI or more)

Any wallet with at least 10,000 iPEFI tokens will receive:

1 x Guaranteed allocation for every 500 iPEFI tokens.
1.5 x Bonus allocation for every 5000 iPEFI tokens (15% bonus allocations).
BOOFI tokens will be offered at $0.115/BOOFI each to Reapers (8% discount).
1 x Epic Reaper NFT

Tier III: Demonlord (50,000 iPEFI or more)

Any wallet with at least 50,000 iPEFI tokens will receive:

1 x Guaranteed allocation for every 500 iPEFI tokens
2.5 x Bonus allocations for every 5000 iPEFI tokens (25% bonus allocations).
BOOFI tokens will be offered at $0.1/BOOFI each to Demonlords (20% discount).
1 x Legendary Demonlord NFT

About BooFinance

BooFinance is a decentralized collective of ghosts working to disrupt current yield farming practices and inflationary NFT models. BOOFI offers a sustainable model that rewards early and long-term holders through cutting-edge yield farming contracts and deflationary NFTs. The protocol runs on Avalanche, leveraging on near-instant finality, low gas fees, and paramount levels of decentralization.

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About Penguin Finance

Penguin Finance is a platform powered by Avalanche, building an innovative set of decentralized applications, financial products, and documentation for 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.