Pangolin is a decentralized exchange (DEX) that runs on Avalanche, uses the same automated market making (AMM) model as Uniswap, features a native governance token called PNG that is fully community distributed, and is capable of trading all tokens issued on Ethereum and Avalanche. In a crowded market with numerous competitors, Pangolin offers three critically important benefits: fast and cheap trading, community-driven development, and fair and open token distribution.
In this article, we will discuss:
What is Pangolin and how does it work?
Pangolin is the first AMM DEX project built on the Avalanche ecosystem, which allows users to exchange Avalanche and Ethereum assets at an optimized rate. The procedure for accessing Avalanche-based DApps, notably Pangolin, is more complex than usual due to three support chains: C-Chain, X-Chain, and P-Chain.
AVAX, Avalanche's native token, is used to determine transaction fees in the exchange.
Pangolin can complete deals quickly and cheaply. Because Pangolin is built on Avalanche, it allows users to exchange assets while enjoying transaction completion in less than a second and transaction fees as low as a few cents. Often, trading on Pangolin will be as fast as trading on centralized exchanges.
Second, in addition to significant performance upgrades to the technical status quo, Pangolin is community driven. The native governance token, PNG, allows the community to drive the entire product development. Third, but not least, Pangolin features a 100% community-focused token distribution model, which means that all tokens are distributed directly to the community, with no allocation to staff, consultants, investors or insiders.
Pangolin is based on Avalanche rather than Ethereum. The problem of excessive transaction fees was addressed using a new framework with multiple token patterns.
Although Pangolin is based on the Avalanche platform, the exchange is still compatible with Ethereum's assets and tools.
Pangolin allows customers to trade at high speed while paying low transaction costs comparable to CEX. Another feature that sets Pangolin apart from competitors in this industry is Fair Launch, which occurs when the project decides on all PNGs for the community via Airdrop or Mining.
PNG Token
PNG is the platform's native governance token that allows the community to drive the entire product development.
The PNG token is an incentive for depositors to save and earn fees through Pangolin's payment activities.
PNG is limited to 538 million tokens. The first 95% of the tokens, or 512 million tokens, are dedicated to the community treasure, where they will initially be used to fund liquidity mining. The remaining 5%, or 26 million tokens, are dedicated to a community airdrop.
PNG Token Metrics
- Token name: PNG token.
- Ticker: PNG.
- Blockchain: Avalanche.
- Token Standard: ARC20.
- Contrato: 0x60781c2586d68229fde47564546784ab3faca982
- Token type: governance, utility.
- Total supply: 538 million PNG.
- Current supply: 41.614.299 PNG.
PNG Token Use Cases
Pangolin's governance is primarily community oriented, which significantly contributes to its value proposition.
PNG holders can vote on the liquidity pool and exchange rate. Conversion fees are being collected for community benefits.
For example, if the conversion rate is 0,05%, the liquidity provider will receive only 0,25% of the total, with the remaining 0,05% retained for other uses.
Pangolin script
The Pangolin team began planning and developing a roadmap focusing on new features, ecosystem expansion and continuous iteration to make Pangolin better than ever. The following areas have been identified as key factors in the long-term success and growth of the Pangolin project.
CEX Listings: Completing the PNG token promotion product will promote the deployment of listings on many centralized Exchanges to attract the community, which will also help in promoting and introducing the project across the world.
Staking: Launch of staking feature to encourage users to keep project tokens. In addition, there is a token burning mechanism to reduce inflation to keep PNG prices firm in the market.
UX Redesign: Interface update to improve the ease of use that offers the best experience.
Pairs of rewards: Adding more liquidity pairs, increasing liquidity pair rewards to incentivize users.
Governance: improving the governance system will make users and the project more accessible to vote on the changes they want.
Integration: Educating and integrating new users with DeFi and Avalanche is an important mission of Pangolin.
Partnerships: Find and collaborate with partners to promote liquidity and improve resources.
Bridges: Building the infrastructure to increase liquidity is another goal Avalanche is working on. Projects in Avalanche currently aren't connected to each other perfectly. Pangolin is participating in many projects and researching to connect projects to the ecosystem.
Becoming a premier DEX: The roadmap for the remainder of 2021 will require continued involvement from your community, close collaboration with current and future partners, and gradually building a strong core team to deliver critical resources.
This roadmap will establish Pangolin in a solid position in the DeFi landscape. After establishing a solid foundation with the current script, more exciting innovations in a V2 script will be revealed later.
Where to Buy PNG cryptocurrency?
The PNG cryptocurrency can be traded on the following exchanges:
- Gate.io
- ZT
- lbank
- Bitmart
What is the Price Forecast for Pangolin cryptocurrency (PNG)?
The price of Pangolin is forecast to peak at $2.095 throughout 2022.
As early as 2023 according to our crypto price prediction index, Pangolin (PNG) could reach a maximum level of $3.557, with the average trading price of $2.645.
In 2025 according to our crypto price prediction index, PNG should cross an average price level of $3.138, the minimum expected price of Pangolin at the end of the current year should be $3.467. Additionally, PNG can reach a maximum price level of $3.713.
Conclusion
AMM is always one of the most powerful categories in DeFi, as seen by the success of AMM projects in other ecosystems such as Uniswap on Ethereum and PancakeSwap on Binance Smart Chain. Avalanche is a developing ecosystem that has made considerable strides over previous attempts. The Pangolin gains strength from this advantage.
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