What Is a Pangolin Token (PNG)?

Pangolin is a community-driven decentralized exchange (DEX) built on the Avalanche blockchain. The exchange is developed for Ethereum and Avalanche tokens and aims to provide fast settlement, low transaction fees, and a democratic distribution. The platform presents trading opportunities to users so that they can find and increase their yield.

According to the whitepaper, the team of Pangolin discovered the limitations of network infrastructure with the skyrocketing usage of decentralized finance (DeFi) applications. This resulted in network congestion and systemic risks. Consequently, the team realized that such applications need ownership from the community and should be highly democratic. Thus, the Pangolin platform is a response to these issues that aims to offer its users a centralized exchange-like swiftness without compromising access to their current range of assets and without giving authority to huge insiders. Pangolin seeks to provide three vital benefits to its users: cheap and swift trades, open and fair distribution of tokens, and community-driven growth. Pangolin aims to provide adequate performance along with governance control that can benefit the token holders.

As Pangolin is created on Avalanche, users can swap their assets at a low transaction fee. Also, the platform aims to offer fast trade to traders. The platform seeks to feature a token distribution model which is 100% community focused. This implies that all the tokens are dispersed directly to the entire community without allocating them to the traders, team, insiders, or advisers.

The native token of Pangolin is PNG, which is a governance token. The token holders are eligible to vote for the liquidity pool as well as the conversion fee. PNG token aims to enable the community to entirely drive the product's growth. The token seeks to serve as an incentive for traders who secure and earn fees via payment activities of the platform.

History of Pangolin Token (PNG)

The Pangolin project follows a fair launch model with its PNG tokens, where all the tokens are distributed to the community through mining operations or airdrop. Justin Trollip is the CEO at Pangolin Exchange. The maximum total supply of PNG tokens is 538 million.