Written by: Nicky, Foresight News
On October 28th, Piggycell, a South Korean shared power bank project, officially launched TGE, and its token PIGGY was listed on Binance Alpha and OKX perpetual contract markets. Trading data shows that PIGGY rose rapidly from its opening price of $1.178 on the 28th, reaching a high of $2.724 on the 29th, an increase of over 130%, and is currently fluctuating steadily around $2.
The project is currently ranked first in the seven-day popularity chart of the DePIN section of BNB Chain DappBay.
Project Positioning
Piggycell is a shared power bank service provider with a market share exceeding 95% in South Korea. It has deployed over 14,000 charging stations nationwide, operates more than 100,000 charging devices, and boasts 4 million paying users. The project combines physical charging infrastructure with a token economy through blockchain technology, positioning itself as a fusion of Real-World Assets (RWA) and a decentralized physical infrastructure network (DePIN).
Its core logic is "real-time usage data on-chain": by recording high-frequency data such as user charging behavior and device operating status on the blockchain, charging services are transformed into quantifiable digital assets. This model solves the information asymmetry problem of the traditional sharing economy—users can see how their usage behavior is converted into income, and investors can also track the actual operation of the underlying assets.
The project's core models include "Charge-to-Earn" and "Dominate-to-Earn." The former allows users to earn token rewards when renting power banks, while the latter allows holders to share in the infrastructure revenue through location-based device NFTs.
Specifically, "Charging as Mining" allows users to earn PIGGY token rewards by borrowing power banks and charging for a set period of time, turning daily consumption into asset accumulation; "Domination as Mining" allows users to purchase NFTs linked to physical devices, becoming "shareholders" of regional infrastructure and sharing the revenue generated by the devices proportionally.
Funding background and team information
In February 2025, Piggycell announced the completion of a $10 million seed funding round. Investors included Animoca Brands, ICP HUBS, and traditional South Korean financial institutions such as Shinhan Financial Group and Hana Financial Group. DWF Labs also participated as a public partner.
Piggycell's core team is led by co-founder John Lee, who has extensive experience in Web2 infrastructure and successfully operated the portable charging network Chungjeondwaeji in South Korea. Under his leadership, the company successfully transitioned from traditional Web2 business to a Web3 platform.
Token Economics
The project's tokens adopt a dual-chain architecture, with 80% of the tokens deployed on the BNB Chain and 20% on the ICP network.
The total supply of PIGGY is 100 million, distributed across multiple dimensions including institutional, team, and community incentives: 10% to institutions, 7% to teams, 10% to the treasury, 25% to user holdings, 20% to charging behavior rewards, 10% to task challenges, 10% to partners, 5% to liquidity, and 3% to marketing. The current circulating supply is approximately 7.2458 million.
Despite the strong performance of the token market, the community reports that the Piggycell airdrop and Galxe rewards have not yet been distributed, raising concerns among some users.
User experience and future planning
Unlike the complex operations of most Web3 applications, Piggycell maintains Web2-level convenience: users can borrow power banks by scanning a QR code, support local payment tools such as Kakao Pay, and return them without site restrictions. The fee is 1000 Korean Won per hour.
In the future, Piggycell plans to launch an Energy as a Service (EaaS) platform, allowing individuals or businesses to register and lease energy devices (such as power banks and wall chargers) and automate revenue distribution through smart contracts. Furthermore, leveraging on-chain data, the platform will explore carbon credit issuance and ESG compliance solutions, further expanding the application scenarios of RWA.
