What Is Panda Coin (PANDA)?
Panda Coin is a meme token in the Solana ecosystem aiming to be community-owned and fun. $PANDA is inspired by Dogecoin, Samoyed coin, and aims to grow Solana’s ecosystem through its highly technological coins. Being a fun cryptocurrency, $PANDA includes all the features of the Solana blockchain, i.e., high scalability, high speed, and low fees. The PANDA team hosts various community competitions inside PandaCoin every week, with its native currency as the reward.
As per its whitepaper, the total supply of 1.3B Panda Coin has been burned; hence, the current total max supply is 8.7B, allotted for different purposes listed below:
40 percent for staking rewards - Holders are encouraged to hold more PANDA, and DEXs need to have a high supply of PandaCoin to facilitate effective trades.
10 percent for airdrop - 15,125 PANDA was sent to each participant who joined the community at the first airdrop. Top holders were provided with 2 percent for holding PANDA every day. In the second airdrop, 20,000 PANDA was sent to 2000 random participants. The remaining 222,346,270 PANDA were burned. Cryptocurrency burning is when a fraction of tokens are sent to a wallet with no private key. This means the tokens are lost forever. Tokens are usually burnt to reduce availability and increase market value.
10 percent for burning - 1B PANDA has been burnt in three stages:
250M PANDA has been burnt in the first burning.
250M PANDA has been burnt to celebrate PandaDEX launch .
500M PANDA has been burnt to celebrate Bitrue listing.
30 percent for Marketing - To create awareness for PANDA tokens, the marketers use this fund.
0.5 percent for Advisor – Five tenths percent of the total supply goes to the advisors. Five percent of the tokens are unlocked per month. Therefore, the fund will be fully released after twenty months.
9.5 percent for Team – Each month,0.25 percent of 9.5 percent team tokens are released. According to this, the fund will be fully released to the development team in nineteen months.
History of Panda Coin (PANDA)
Panda Coin was launched on January 06, 2021.
