What Is Penguin Finance (PEFI)?

Penguin Finance is a DeFi hub with different income opportunities for users in a single ecosystem. These opportunities aim to include provision for staking, using gaming DApps, etc. Further, to create faster processing of these opportunities, the hub has been developed on Avalanche blockchain. The Avalanche blockchain seeks to reflect an open platform for decentralized applications (DApps), functioning using programmable smart contracts. According to the whitepaper of the asset, the hub's mission seeks to maximize the return on investment for users with yield-aggregator, farming, staking, fundraising, etc. The yield aggregators are automated protocols that function with a unique risk management strategy to provide users with the best return on the DeFi platform. In order to support this mission, the network introduced its cryptocurrency PEFI token.

The PEFI is a utility token of the Penguin Finance platform that functions on the Avalanche C-Chain. The Avalanche C-chain, also known as a contract chain, is the default smart contract blockchain on Avalanche that enables the creation of Ethereum-compatible smart contracts. Further, the PEFI token is integrated into all the DApps on the platform and seeks to be used for many different functions on this ecosystem which are mentioned below:

• Used for the purpose of staking to earn rewards.

• Collection of fees within the ecosystem of Penguin Finance.

• Used for gaming on the platform.

• The token is used for fundraising.

• To create and trade NFTs.

• Used for the purpose of customizable investment options. The uses of the token aim to help create a smooth working atmosphere within the Penguin Finance ecosystem while facilitating users on this network with financial freedom and access to financial instruments.

History of Penguin Finance (PEFI)

Penguin Finance was founded by Frostbyte (cofounder and project manager) and Cody Maverick (cofounder). The token of the platform has a maximum total supply of 21,000,000 PEFI coins.