Pudgy Penguins’ PENGU token launches tomorrow with Binance itemizing and airdrop

Key Takeaways

Pudgy Penguins launches the PENGU token, with Binance saying spot buying and selling and an airdrop.
Pengu token’s complete provide is about at 88.88 billion, with important allocations to the group, NFT collections, and the Pudgy Penguins crew.

Pudgy Penguins, the second-largest NFT assortment by market cap, introduced that they’ll launch their PENGU token tomorrow.

Tomorrow. $PENGU. pic.twitter.com/80LHuf9vZj

— Pudgy Penguins (@pudgypenguins) December 16, 2024

The official Pudgy Penguins X account posted a video showcasing a Pudgy Penguin holding a token engraved with a penguin image, representing the brand new PENGU token.

Following this announcement, Binance shared its update on X, confirming that it’s going to launch PENGU for spot buying and selling with pairs together with USD, BNB, FDUSD, and TRY.

Moreover, Binance introduced an airdrop for PENGU, which shall be distributed to customers taking part in Binance’s HODLer Airdrops program.

The token launches with a complete provide of 88,888,888,888 PENGU tokens.

The distribution allocates 25.9% to the Pudgy Penguins NFT group, whereas 24.12% is designated for different NFT communities together with Azuki, Bored Ape Mutant Ape, Doodles, and Memeland.

The undertaking crew receives 17% with a one-year cliff and three-year vesting interval.

Further allocations embrace 12.35% for liquidity swimming pools and 11.48% for Igloo Inc., Pudgy Penguins’ dad or mum firm. Public items {and professional} model enlargement will every obtain 4% of the availability.

Pre-market buying and selling information from Whale Market reveals PENGU buying and selling at $0.05 per token, implying a totally diluted market worth of $4.4 billion.

The information of PENGU’s launch follows the latest surge in Pudgy Penguins NFTs, as the ground value of the unique NFTs surpassed the $100,000 mark.

Since then, the ground value has continued to rise, reaching a staggering 33 ETH, which is at present valued at over $133,000, with ETH buying and selling simply above $4,000.