Question 1

What is PNG?

Accepted Answer

PNG is Pangolin's native governance token on the Avalanche network. It enables holders to participate in votes on Pangolin Avalanche protocol changes; this governance right concerns protocol rules and is not equivalent to company equity, debt claims, or rights to fixed dividends. PNG is also included in Pangolin's liquidity-provision and single-token staking functions, but these functions serve different purposes from governance: voting concerns protocol decisions, while providing liquidity or staking requires entering the corresponding products and following their rules.

Question 2

What is the purpose of holding PNG?

Accepted Answer

The core purpose of holding PNG is to participate in Pangolin Avalanche governance. Token holders can submit or participate in proposals concerning protocol development and express their views on protocol changes. Whether governance can change a particular arrangement depends on the proposal and its approval and implementation; holding PNG does not automatically grant returns from a particular product. Voting rights also do not directly distribute Pangolin's operating income to holders.

Question 3

How can PNG be used in Pangolin?

Accepted Answer

Within Pangolin's Avalanche features, PNG can be used to provide liquidity, stake a single token, and vote on protocol changes. Providing liquidity means entering a specific pool and bearing asset-composition and transaction-related outcomes according to that pool's rules; single-token staking is another participation route defined by product rules. Eligible pools, qualification requirements, reward sources, and distribution parameters are not immutable attributes of the PNG token itself and may change with product interfaces or governance arrangements. Therefore, before taking action, users should confirm the assets, term, exit conditions, and reward basis under the current rules of the selected pool.

Question 4

Will PNG continue to be issued?

Accepted Answer

PNG has reached V2's maximum supply of 230 million tokens. Official materials state that all tokens are in circulation, so the supply will no longer be expanded through new PNG minting. Here, “no new minting” describes the supply-side status and does not guarantee that the quantity available for market trading, price, or liquidity will remain unchanged; transfers among holders, changes in lock-up arrangements, or market buying and selling can still affect the number of tokens available for trading.

Question 5

Has PNG's supply mechanism changed?

Accepted Answer

PNG's supply mechanism did undergo an important adjustment. When it launched in February 2021, V1 had a maximum supply of 538 million tokens and a planned emission period of 336 months; after a tokenomics adjustment was approved in November 2021, Pangolin V2 changed the maximum supply to 230 million tokens and the emission period to 48 months calculated from February 2021. This change was not simply a shortened schedule: official materials state that it reduced the maximum supply by stopping 57% of the originally planned PNG emissions. After the 48-month arrangement was completed, the current status became 230 million tokens fully in circulation, with zero new minting.

Question 6

Is PNG the same as Pangolin tokens on other networks?

Accepted Answer

They cannot be used interchangeably. PNG is Pangolin's governance token used on the Avalanche network; Pangolin uses tokens such as PFL, PSB, and PBAR on the Flare, Songbird, and Hedera networks, respectively. These tokens correspond to Pangolin deployments and governance scopes on different networks. Therefore, similar token names or membership in the Pangolin brand does not mean they can directly substitute for PNG on another network. Before use, users should verify the token symbol, the network it is on, and the governance token supported by the intended function.

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