Pangolin is a decentralized exchange (DEX) which runs on Avalanche, uses the same automated market-making (AMM) model as Uniswap”. Likewise PNG is the native token to Pangolin as UNI is the native token to Uniswap. To understand why the PNG token will have future value, they need to dig in to why people would use the Pangolin exchange in the first place.
A community-driven decentralized exchange for Avalanche and Ethereum assets with fast settlement, low transaction fees, and a democratic distribution–powered by Avalanche. Pangolin brings you the best trading opportunities to find and maximize your yield.
Pangolin uses the same automated market-making (AMM) model as Uniswap, but is built on Avalanche to drastically improve the user experience by reducing fees to a fraction of what they pay today and finalizing trades instantly.
|Circulating Supply||25,586,902 / 538,000,000|
|Market Cap / TVL Ratio||0.13|
How To Start With Pangolin
To start trading with Pangolin ,Indian residents first have to sign up for an account by following the steps below.
Step 1. Click on the “Login/Signup” link on the top right hand corner of the Pangolin website.
Step 2. In the form, fill in your first name, last name, mobile number, email ID and password.
Step 3. If you have a referral code, enter the code while creating your account.
Step 4. Submit the form and wait for an activation email to be sent to you.
Step 5. Click on the “confirm email” link in the activation email.
Step 6. After your account is activated, you’ll be sent a 6 digit one time password (OTP), which you have to enter after logging into your Pangolin account.
A big part of the value proposition of Pangolin governance is that it is highly community-driven. Because there are no insiders, such as investors, team members, or other such stakeholders, the development of Pangolin remains entirely up to the wider community. Pangolin governance will be live three months after launch and will enable several key actions, including:
Modifications to the liquidity pools
Initially, the distribution of tokens will be entirely through the liquidity mining pools listed in the previous section. The liquidity mining period will remain active until the pools are altered or another community initiative is accepted as a formal governance proposal. Proposals may add and subtract liquidity mining pools or may allocate PNG directly to a user or smart contract such as a community treasury.
- The community will also have the ability to enable the Pangolin fee switch. This fee switch can divert .05% of all swap fees to a designated address. Swap fees will remain fixed at .30%, but liquidity providers will only receive at most .25% of these fees. This provides the community with the opportunity to acquire extra funds to support any significant community initiatives. The Pangolin fee switch is subject to a 90-day timelock delay and is disabled by default.
The Pangolin governance thresholds are as follows:
- 10% of PNG circulating supply (delegated) to submit a governance proposal
- During a voting period, a simple majority (>50%) of ‘yes’ votes weighted by delegated PNG that totals at least 15% of the circulating supply of PNG is required to reach quorum
- 7 day voting period
- 2 day timelock delay on execution
PNG Distribution: A 100% Community-Driven Governance Token
To reinforce Pangolin project’s commitment to being created solely for the benefit of users, Pangolin is following a fair launch model with its governance token (PNG). However, while PNG will enable all the governance activities of Pangolin, and therefore its future development, governance proposals will not start until three months after the launch of Pangolin. This waiting period of three months is to ensure that enough PNG is distributed to the community.
No PNG tokens are allocated to the team, investors, advisors, or any sort of insiders. Therefore, Pangolin is entirely community-driven and entirely community-owned. PNG is capped at a supply of 538 million tokens, 100% of which will be distributed to the community according to Chart 1. The first 95% of tokens, or 512 million tokens, are dedicated to the community treasury, where they will initially be used to fund liquidity mining. The remaining 5%, or 26 million tokens, are dedicated to a community airdrop.
Liquidity Mining Allocation (95% of PNG)
The vesting schedule is algorithmically specified as follows: starting from 256 M tokens for the first four years, the number of tokens distributed halves every additional four years, meaning that the next four years contribute roughly a quarter, and so on. This pattern continues into perpetuity. For reference, during the first four years, roughly 175,342 PNG will be distributed per day to liquidity miners. The full schedule of distribution of PNG in the liquidity mining allocation is shown below:
|Time||Total PNG Distributed||PNG / Day|
|0 – 4 years||256 M||~ 175 K|
|4 – 8 years||128 M||~ 87 K|
|8 – 12 years||64 M||~ 44 K|
|12 – 16 years||32 M||~ 22 K|
|16 – 20 years||16 M||~ 11 K|
|20 – 24 years||8 M||~ 5 K|
|24 – 28 years||4 M||~ 2 K|
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