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Fat Penguin NFT announces the issuance of $PENGU Token, opening a new chapter in the Web3 ecosystem.
Holding the Fat Penguin NFT for over 1000 days has been both challenging and joyful during this time. Although persistence is not easy, the rewards are abundant and truly gratifying.
Recently, there have been reports that the Fat Penguin project will issue tokens. Initially, I was skeptical. After all, the project has always downplayed the token issuance plan and does not rely on a Ponzi scheme to maintain the floor price.
In the past three years, the project team and community have made efforts in both Web2 and Web3 fields, continuously enhancing brand awareness and making Fat Penguin a global focus.
After careful consideration, I believe that issuing tokens at this time may be to seize the opportunity of a bull market and attract more people from outside the circle. Fat Penguin has a good reputation in both Web2 and Web3, and can serve as a bridge between the two worlds, helping newcomers understand Web3 while promoting its own business development.
$PENGU token will become an important part of the Fat Penguin ecosystem, serving as both a spiritual symbol and a vehicle for driving the mass adoption of Web3. Regardless, I choose to unconditionally trust the project team.
Regarding the Fat Penguin airdrop, there are a few points worth noting:
No snapshot mechanism, tokens can be directly claimed using NFT after launch, for a period of 88 days. This method helps to prevent insider trading.
The project favors the number 8, which is reflected in multiple aspects, such as the total amount of NFTs, the total amount of tokens, etc.
The positioning of the $PENGU token is still unclear, but it may lean towards cultural symbols and Meme attributes, representing the core values of the fat penguin.
Choosing to issue on Solana may be aimed at lowering the participation threshold, with plans to expand to other public chains in the future.
Token valuation should avoid comparisons with other projects; the goal of the Fat Penguin is to become the best project.
The community allocation ratio reached 25.9%, demonstrating the team's emphasis on supporters.
The external community allocation ratio is as high as 24.12%, covering a wide range, reflecting the project's open attitude.
Allocate 0.35% to FTT holders, aimed at providing some comfort to the victims of the FTX incident.
$PENGU is just the first step of the Fat Penguin ecosystem, with more plans to come, such as Abstract Layer 2.
It is expected that multiple large exchanges will list the $PENGU token, and investors can wait patiently.