Original | Odaily ([@OdailyChina](https://x.com/OdailyChina))
Author | Azuma ([@azuma_eth](https://x.com/azuma_eth))
The highly anticipated Pudgy Penguins token (PENGU) will officially launch tonight.
Pudgy Penguins CEO Luca Netz posted on X this morning, stating that at 8:00 AM Eastern Time (9:00 PM Beijing time) tomorrow, eligible participants (including Pudgy Penguins, Lil Pudgys, Rogs, and SBT holders, etc.) can start claiming PENGU. The claiming period will last 88 days, and all unclaimed supply will be permanently locked/burned after the 88th day.
Buyers of Pudgy Toys will also be included in the airdrop, but since Pudgy Toys / Pudgy World are built on Abstract, when the Abstract mainnet launches, the bridging function to claim PENGU via LayerZero will also go live, and Pudgy Toys buyers will then be able to claim their PENGU. More details will be announced when the Abstract mainnet launches in January next year.
PENGU Listing Status
As of the time of writing, both Binance and OKX have officially announced the listing of PENGU.
Binance has announced that PENGU will be the 5th project in its HODLer airdrop program, and users who purchase platform fixed and/or floating products with BNB between 8:00 AM and 7:59 AM Beijing time on December 9-13 will receive airdrop allocations. PENGU is expected to open trading at 10:00 PM tonight, with trading pairs including USDT, BNB, FDUSD, and TRY.
OKX has also opened PENGU deposits and announced that they will launch PENGU trading as soon as user deposit volumes meet the requirements for enabling trading.
PENGU Token Economics
Earlier today, as part of the new token listing information disclosure, Binance Research has published some key information about PENGU.
PENGU has a total supply of 88,888,888,888 and will be issued on the Solana network, with the token contract address being 2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv. Upon Binance's initial listing, the circulating supply of PENGU will be 62,415,951,646, accounting for approximately 70.22% of the total supply.
The specific PENGU allocation plan is as follows:
29.78% of PENGU will be allocated to the team, investors and advisors, and this portion of tokens will be locked for 1 year and then linearly released over 3 years;
47.87% of PENGU will be used for community airdrops;
3% of PENGU will be used for the Binance HODLer airdrop;
12.35% of PENGU will be used to build initial liquidity;
4% of PENGU will be used to support public affairs development;
3% of PENGU will be used for marketing and expansion.
As shown in the image, except for the team, investor and advisor allocations, the other portions of PENGU will be unlocked at the time of launch.
PENGU Valuation Expectations
Currently, multiple pre-launch trading markets have opened trading for PENGU. As of around 1:00 PM Beijing time, the valuation quotes on various platforms are as follows.
On Aevo, PENGU is temporarily priced at $0.04128, corresponding to a circulating market cap (MC) of approximately $25.76 billion and a fully diluted valuation (FDV) of approximately $36.69 billion;
On whales.market, PENGU is temporarily priced at $0.0439, corresponding to a circulating market cap (MC) of approximately $27.4 billion and a fully diluted valuation (FDV) of approximately $39 billion;
If using NFT-related tokens like APE and MOCA, as well as meme tokens like PEPE and WIF as reference targets, the valuation expectations for PENGU are as follows.
Summary
Given the current market's hot sentiment, and the increasingly solid leading position of Pudgy Penguins in the NFT sub-sector, it is expected that PENGU will attract huge traffic after its launch. However, considering the relatively large circulating proportion of PENGU at launch, there will inevitably be some airdrop profit-taking pressure. Investors need to operate rationally based on their personal expectations and do their own research.
