Pudgy Penguins launches PENGU token with 88-day claim window before burn
The post Pudgy Penguins launches PENGU token with 88-day claim window before burn appeared on BitcoinEthereumNews.com.
NFT project Pudgy Penguins’ PENGU token has gone live, opening the claims process for eligible participants. The token, which has a total supply of 88,888,888,888, debuted on the Solana blockchain. Holders have 88 days to claim their tokens before any unclaimed amounts are burned, permanently reducing the supply. The PENGU token launch was first announced by Pudgy Penguins on December 5. According to the team, the token aims to provide millions of Pudgy Penguins fans and broader audiences with a way to connect more directly with the brand. While the initial launch is on Solana, compatibility with Ethereum and Igloo’s Ethereum Layer 2 Abstract Chain is expected in future updates. PENGU token claims commence According to recent reports, more than 88 billion PENGU tokens are now circulating on the Solana blockchain. The allocation is structured to benefit multiple holder categories. The @pudgypenguins $PENGU claim is live 🎉 If you swapped in Phantom prior to 2024, you’re eligible. Here’s how to claim your tokens and stay safe 👇 pic.twitter.com/6lUh5GiUdu — Phantom (@phantom) December 17, 2024 Per the token’s developers, approximately 25.9% of the total supply is reserved for the Pudgy Penguins community, while 24.12% will go to other communities and new “Huddle” members. Another 17.8% is designated for team members under a one-year cliff and three-year vesting period, with 11.48% retained by the company under similar conditions. Pudgy Penguins holders, along with owners of related assets like Lil Pudgys, Rogs, and SBTs (soulbound tokens), are eligible to claim PENGU tokens. The claims process went live today, as confirmed by Luca Netz, CEO of Igloo, the company behind Pudgy Penguins. Claims are tied directly to NFTs for core collections, as is evident from a snapshot of SBTs taken on December 8. $PENGU is now live. Ca: 2zMMhcVQEXDtdE6vsFS7S7D5oUodfJHE8vd1gnBouauv https://t.co/9sTzfRywtI pic.twitter.com/SwmFbao7eq — Luca Netz…
Filed under: News - @ December 17, 2024 4:21 pm