The Ethereum blue-chip Non-Fungible Token (NFT) project "Pudgy Penguins", which has swept Web2 and Web3 with its adorable penguin image, announced on this (6th) morning that the team will launch the official token $PENGU on the Solana chain, and stated that the token will be issued in December 2024.
Introducing $PENGU, the official coin of Pudgy Penguins.
Launching in 2024. Learn more below. pic.twitter.com/J715bODcM6
— Pudgy Penguins (@pudgypenguins) December 6, 2024
$PENGU Token Economics
In addition to announcing the token issuance, Pudgy Penguins also released the token economics of PENGU, with the detailed information as follows:
- Total Supply: 88,888,888,888
- Pudgy Community: 25.9%
- Other Communities: 24.12%
- Liquidity: 12.35%
- Partners: 11.48% (locked for one year, linearly unlocked over three years)
- Team: 17.8%
- Public Sale: 4%
- Proliferation: 4%
- FTT Holders: 0.35%
It is worth mentioning that 0.35% of the total supply is allocated to the holders of the platform token $FTT issued by the now-bankrupt exchange FTX.
$FTT Surges 64% in Short Term
Due to the news of the Pudgy Penguins' upcoming token launch, it was reported by media outlet Coindesk last night. Possibly affected by this, $FTT surged from the low point of $2.6845 to a high of $4.4, a gain of 64.1%.
As of now, the FTT price is reported at $3.5228, up 29.28% in the last 24 hours.
Pudgy Penguins Floor Price Rises 18.79% in 24 Hours
On the other hand, the Pudgy Penguins NFT has also been buoyed by the token issuance news, with its floor price rising to 18.45 ETH, a 19.1% increase in the last 24 hours.
However, it should be noted that the official has not yet stated whether a snapshot of the tokens and NFTs has been taken.
