Penguin Finance is an exciting Avalanche project working to build yield farming, decentralized prediction markets, staking fundraising, gaming and NFTs to the Avalanche network. Many dapps are only accessible to those who are technologically savvy, which is why Team has built Penguin Finance with the common folk in mind with user friendly documentation and intuitive design.
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The Igloos where users can deposit their LP tokens from Avalanche exchanges to form the underlined token from the exchange and $PEFI
If you just wanna increase your yields from Dex by using the Igloo, you are given the $PEFI and $iPEFI in addition to the token that would be farm on the Dex.
The Nest where you can stake your $PEFI in return for $iPEFI which can continue to compound reward but also imposed a paper hands penalty.
At the club participants can stake their $iPEFI and can earn other tokens of Avalanche native projects. In order to participate in the club or play to earn games participants need to stake $PEFI tokens. With staking you can earn additional reward and can have a access to the more opportunities.
Tokenomics
Total Supply :- 21M
Token Utility
As longtime users of crypto, we understand that there is an excess of projects and tokens that have no actual utility or long-term value propositions, which is why we’ve come together to excel from the rest.
The $PEFI token is the lifeblood of the Penguin Finance Ecosystem. Penguins are able to stake their tokens to receive both staking rewards and fees that are collected by applications within the Penguin Finance Ecosystem. Rather than being purely speculative, PEFI’s value is derived from the fees that are collected from the protocol’s users and its utility within PeFi, as well as burning mechanisms. PEFI tokens will have a wide arrange of applications ranging from their use in custom yield farming strategies, our upcoming ultra low-fee Prediction Markets, NFTs, and the famed Penguin Arena.
The Penguin Community is always proposing new use cases and additions to the PEFI token whose supply mechanisms have been built with long-term holders in mind. It is against our nature to dilute Early Penguins for the benefit of others, the PEFI token has many built-in burning mechanisms and deflationary implementations to ensure it is continuously appreciating in value for both newcomers and legacy holders.
Token Distribution
50% Liquidity Providers & Staking: To reward our fellow Penguins for staking their funds and adding liquidity into the Penguin Ecosystem, half of the supply will be distributed as incentives via the Penguin Igloos (yield farming pools) and the Penguin Nests (staking).
5% Marketing & Community Endowment: In order to ensure PeFi can get to as many people as possible, this allocation will be used for creating competitions such as our recent NFT Artwork Competition and other creative ideas that will drive community engagement, social media exposure, and help support content creators within the Penguin Finance Community. This allocation will allow us to organically grow the project, compensate designers, and community managers.
25% Airdrops: To expand the PeFi Vision and reach as many Penguins as we can around the globe, this allocation will be distributed in several small key strategic distributions within a time span of 3 years to guarantee that they don’t affect $PEFI’s value short-term.
10% Team Allocation: Given PeFi’s mission is to continue pushing out excellent code and features for the coming decade, we will use this allocation to onboard new developers, designers, and marketers into the team and make sure everyone can be a full-time Penguin. This is distributed by the MasterChef rather than being minted beforehand, meaning there is no preallocation.
10% Penguin DAO Treasury: This allocation of the total supply will be held by the Penguin DAO which will be free to use the funds for whatever the Penguin Community sees fit in the future. They may be burnt, distributed, or used for creative proposals that our community will be able to vote on in the future. Given the project is in its early stages and the Penguin DAO isn’t yet live, the funds will not be allocated yet to not make the circulating supply of PEFI appear larger than it really is.
Deflationary Mechanisms
In order to increase $PEFI’s value over time and balance the circulating supply of our token, the token was engineered with several key burning mechanisms in place:
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3% of all withdrawals from the Penguin Igloos are used to market buy $PEFI and burn it.
100% of the paper hands penalty (PPL) collected from the Penguin Nests is immediately burnt. This in turn increases the value of investors that are inside of the Nests, as the circulating supply has been lowered.
A percentage of the fees generated by the following dApps will also be used to market buy $PEFI and immediately burn it forever:
Penguin Arena
Penguin Emperor
Prediction Markets
CryptoPenguins
Other upcoming dApps
These features reduce the amount of $PEFI to ever be created, making it impossible for circulating supply to ever reach the established hard cap of 21,000,000 PEFI tokens.
Conclusion
Penguin Finance is a Avalanche-based liquidity mining project, and it's native token is $PEFI. Users can wager LP tokens in liquidity pools and receive additional LP tokens and PEFI as a reward for providing liquidity. In addition to productive agriculture, the project also offers beta and games. For example, users can wager PEFI to receive iPEFI, which users can to participate in the Penguin Emperor game and other activities.