Pudgy Penguins NFT collection’s token $PENGU airdrop is set to go live today at 8:00 AM EST. According to the official announcement, holders of Pudgy Penguins, Lil Pudgys, Rogs, and Soulbound Tokens (SBTs) will be eligible to claim their share of the $PENGU tokens.
Pudgy Penguins $PENGU Claim
CEO Luca Netz took to X to announce that the $PENGU airdrop claim window will remain open for 88 days, giving participants ample time to redeem. However, unclaimed tokens after the 88th day will be permanently locked or burned.
Pudgy Penguins Ecosystem update:
Tomorrow, at 8am EST the Pudgy Penguin $PENGU claim goes live for eligible participants.
Learn more below:
— Luca Netz 🐧✳️ (@LucaNetz) December 16, 2024
Netz also cautioned users against rash move which could lead to scams, saying, “PLEASE do not rush to claim & make sure to triple check the link you’re claiming from and cross reference our discord, my X account, and the main @pudgypenguins account before you connect anything.”
$PENGU claimants need to connect both a Solana wallet and an Ethereum wallet and need to ensure that both wallets are accessible on the same device. Additionally, a Solana wallet with at least $10 worth of $SOL is required to cover gas fees.
As per the announcement, using a desktop device is highly recommended, as mobile setups can be complex due to dual wallet approvals.
PENGU Token Supply
The total supply of $PENGU is capped at 88,888,888,888 tokens, which will be minted on the Solana blockchain during the Token Generation Event (TGE).
25% airdrop would be allotted to Solana users. Active users in the Solana ecosystem, including those using Phantom and Jupiter dApps, may also receive $PENGU tokens even if they don’t hold a Pudgy NFT.
Although the token launches on Solana, it is expected to expand to Ethereum and AbstractChain, an Ethereum layer-2 scaling network built by Igloo Inc.
We had initially covered that $PENGU will debut for spot trading on Binance at 9:00 AM ET on December 17, making Binance the first exchange to support the token. The latest update is that Bybit and OKX are also considering a similar move. Solana-based decentralized exchanges (DEXs) will also facilitate trading, with more platforms likely to follow.
$PENGU and Pudgy Toys Integration
Pudgy Toys, built on AbstractChain, will be bridged to $PENGU via LayerZero once Abstract’s mainnet goes live. This bridge will enable Pudgy Penguins toy buyers to claim $PENGU tokens, with further details expected in January 2025.
Pudgy Penguins Market Trends
The token has already generated massive excitement, recording $389,500 in pre-market trading. The market cap of Pudgy Penguins has also gone up to 293,126 ETH(worth over 1 Billion), as the project made a 24 hour sale of 190.
Also Read: Pudgy Penguins NFTs Surpass Bitcoin as Floor Price Breaks $100K
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