I have been holding the Fat Penguin for over 1000 days. To be honest, being a diamond hand is hard, but very happy, after all, the Penguin has given us so much.
Yesterday I saw the news that the Fat Penguin is going to issue a token, at first I didn't quite believe it, because the Penguin has always been downplaying the issue of tokens, and has never relied on Ponzi schemes to maintain the floor price.
The team and community have been doing this for the past 3 years, synchronizing efforts in both the Web2 and Web3 worlds, constantly pushing the brand to new heights, making the Penguin known to the world.
As for why they will issue a token at this time point, after much thought, I seem to have realized: the bull market continues, large-scale outsiders are entering, and the Penguin has widespread recognition in the Web2 world and is also a leader in the Web3 world, it can completely become a bridge between the two worlds, on the one hand helping more newcomers understand and participate in Web3, and on the other hand also helping to promote the Penguin's various businesses.
That is to say, $PENGU is both the spiritual symbol and lubricant of the Penguin Empire, and will also become a carrier for large-scale adoption of Web3. In any case, I choose to believe in the Penguin unconditionally, and believe in the Luca team.
There has been a lot of discussion about the Fat Penguin airdrop these days, and there are also a lot of questions, I will help you answer them one by one next.
1. Is there a snapshot
There is no such thing as a snapshot, when $PENGU goes live, you can claim directly based on the Non-Fungible Token, and it will last for 88 days.
That is to say, no matter when you buy before the token goes live, you will be eligible for the airdrop. Compared to the snapshot approach, this can obviously better prevent front-running.
2. The team is fond of the number 8
The number of Big Penguins is 8888, the total supply of $PENGU is 88,888,888,888, and the airdrop claim period is 88 days, it can be seen that the team is very fond of the number 8.
8 in China means "to get rich", which is a very good meaning, hoping that all Holders of the Penguin can get rich, after all, we deserve it.
3. What is the positioning of the token
The team has not yet made too much explanation about the use of $PENGU, only mentioning that it will drive large-scale adoption of Web3 and bring more people into the Penguin community.
In my opinion, $PENGU is more like a cultural symbol of the Penguin, with a MEME attribute, representing the efforts of the Fat Penguin to swim against the current and constantly innovate over the past 3 years, representing confidence, optimism, cuteness, unity and all other positive elements.
4. Why deploy on Sol
The reason why $PENGU is deployed on Sol, I guess, is to allow more people interested in the Penguin to join at a low threshold.
In the future, $PENGU will expand to multiple chains, and will also be adopted on the Ethereum mainnet and Abstract Chain.
5. About valuation
External valuations of $PENGU have no reference, because the goal of the Fat Penguin has never been to become the next xxx, but to become the best Penguin.
Please don't compare it with other projects for valuation anymore.
6. 25.9% allocation to the Penguin community
After the official announcement of the token launch, the Penguin community is still as harmonious as before, without the usual verbal and written attacks before the TGE of other communities, which is rare.
As an old-timer who joined the community in 2021, I believe the team will not let down every believer.
7. 24.12% allocation to external communities
This proportion is very large, covering 500 million addresses, showing the team's grand vision.
Based on my guess, this portion of tokens will most likely cover the communities that have previously received airdrops from the Fat Penguin, as well as communities that have investment and financing relationships with the Fat Penguin, such as Animoca, ZK, L0, OMNI, DYM and others.
Additionally, there may be some new airdrop criteria, let's wait and see.
8. 0.35% allocation to FTT holders
The FTT here is sbf's $FTT, many people are surprised by this allocation, including me.
Last night, the captain Luca held a meeting with the community and explained this: he hopes to give some warmth to the victims of the FTX blowup, so that they can still remain optimistic about this world. I love it.
9. $PENGU is just the first step
Without exaggeration, the Fat Penguin is one of the few blue-chip projects that does not rely on Ponzi schemes to maintain the floor price. The value of the Penguin comes from the team's continuous efforts in both the Web2 and Web3 worlds, with a first-class brand and community.
In the Fat Penguin empire, $PENGU is just the first step, there will be ongoing out-of-circle activities in the future, and also the consumer-grade L2 Abstract (which will issue a separate token).
All of this is enough to support the Non-Fungible Token floor, while avoiding excessive sell-offs of the token at the TGE.
10. Listing on Tier 1 exchanges is not a dream
Greatness needs no further elaboration. For such a large IP as the Fat Penguin, no centralized exchange will miss it, all the ones that should be listed will be listed, just wait patiently.
