PinkPanda (PINKPANDA) is a charitable utility token supported by the platform of PinkPanda that aims to provide long-term value to its users. PinkPanda aims to build a fully on-chain, noncustodial, mobile-first decentralized exchange (DEX) that allows for up to 5x margin/leverage trading while maintaining a centralized exchange-like experience.
The purpose of the PinkPanda token is to let individuals utilize the DEX, which will charge fees in $PINKPANDA. The platform runs on Binance smart chain that solves the challenges faced by the current DEXes in the market like slow and expensive transactions, inconvenient designing, especially for new users, and no limit on orders. The team at PinkPanda incorporated experienced developers to ensure the friendliest interface. The platform aims to develop an accessible DeFi space where any age group can get their hands-on and financial freedom by earning higher yields.
According to its whitepaper, the platform charges a 10 percent transaction fee to ensure no manipulation in the valuation of the token. Half of the transaction fee goes to the users holding PINKPANDA tokens in their wallets, and the rest goes to the liquidity pool (LP). The platform keeps the LP locked for security purposes and to maintain transparency. Further, the platform donates a portion of the token supply as charity and has pledged to present for all future revenues.
Moreover, the DEX of the platform offers an order book (a list of all traders to maintain transparency), allows cross-margin trading with up to five-time benefits, and uses advanced Defi protocol. Cross-margining means utilizing excess margins from the trader's account to satisfy maintenance margin requirements. The DEX also uses intelligent tools to keep digital threats away.
$PINKPANDA is the native currency of the PinkPanda. Users can utilize PINKPANDA tokens to make payments within the platform.
At the launch, the platform burned 50 percent of the token supply. Token burning refers to removing tokens from the circulating, permanently reducing the token's total supply.
