Written by: Azuma, Odaily
Pudgy Penguins CEO Luca Netz posted on X this morning, stating that eligible participants (including Pudgy Penguins, Lil Pudgys, Rogs, and SBT holders, etc.) can start claiming PENGU at 8:00 PM Eastern Time (9:00 PM Beijing time) tomorrow. The claiming period will last 88 days, and all unclaimed supply will be permanently locked/burned after the 88th day.
Pudgy Toys buyers will also be included in the airdrop, but since Pudgy Toys/Pudgy World is built on Abstract, the bridge function to claim PENGU through LayerZero will be available when the Abstract mainnet launches. More details will be announced when the Abstract mainnet goes live in January next year.
PENGU Listing Updates
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. Users who purchase platform fixed and/or floating products with BNB between 8:00 AM Beijing time on December 9th and 7:59 AM Beijing time on December 13th will receive an airdrop allocation. The PENGU trading pair is expected to open at 10:00 PM tonight, with trading pairs including USDT, BNB, FDUSD, and TRY.
OKX has also opened PENGU deposits and will activate PENGU trading as soon as the deposit volume meets the requirements.
PENGU Token Economics
Earlier today, as part of the new token listing disclosure, the Binance Research Institute has published some key information about PENGU.
The total supply of PENGU is 88,888,888,888, and it will be issued on the Solana network. The token contract address is 2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv. At the initial Binance 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 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 allocation, the other PENGU allocations will be unlocked at the time of launch.
PENGU Valuation Expectations
Currently, multiple pre-launch trading markets have opened PENGU pre-trading. 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 $2.576 billion and a fully diluted valuation (FDV) of approximately $3.669 billion;
On whales.market, PENGU is temporarily priced at $0.0439, corresponding to a circulating market cap (MC) of approximately $2.74 billion and a fully diluted valuation (FDV) of approximately $3.9 billion.
If using NFT-related tokens like APE and MOCA, as well as meme tokens like PEPE and WIF as reference targets, the expected valuation of PENGU is as follows.
Summary
Given the current market enthusiasm and Pudgy Penguins' increasingly solid leading position in the NFT sub-sector, PENGU is expected to attract significant traffic after its launch. However, considering the relatively large initial circulating proportion, there will inevitably be some airdrop profit-taking pressure. Investors should operate rationally based on their personal expectations and do their own research (DYOR).
