Review Penguin Finance ($PEFI) – The leading Avalanche-native DeFi Hub Combines DeFi with Gaming Features
Penguin Finance is a Decentralized Financial Institution (DeFI) platform developed on the Blockchain Avalanche Network.
What is Penguin Finance ($PEFI)?
Penguin Finance is a Decentralized Financial Institution (DeFi) protocol. It was developed to address both the high-technical needs and the exclusion caused by high gas fees. By developing a novel combination of decentralized applications, financial goods, and documentation, the team wants to give its customers with a seamless DeFi experience. Currently, Penguin Finance offers yield farming, staking, gaming, and launchpad to give its native token, PEFI, with a variety of earning options and utility.
What is the project trying to achieve?
Penguin is fairly certain at the present that they are offering a more appealing incentive level than the market standard. Apart from the standard LP stake, the platform also offers Auto-compound, a user-friendly high-performance yield farm utility.
Additionally, the Deflation Token mechanism is a shining point in the project’s operation. With the project placing a premium on offering a more enticing incentive than competitors, having a deflation mechanism in place to keep the token price consistent is a prudent approach. To be specific, if users withdraw from the pool early, they will incur a penalty cost and the associated penalty token will be burnt, which is extremely successful in maintaining the project’s TVL stability.
The project benefits from a number of very unique products, including the Prediction Market, Competition, and NFTs. With the NFTs trend gaining momentum recently, and Penguin Finance’s goal of combining DeFi with NFTs, this is another important aspect of the project.
What is the unique selling point?
By staking your PEFI into the nest, you effectively convert it to iPEFI. On the ecosystem, the iPEFI Nest is the primary staking mechanism. You’ll acquire more PEFI over time by Holding iPEFI tokens and will also have access to the ecosystem’s dApps. If you stake 100 PEFI at a rate of 1 iPEFI/PEFI and then unstake when the exchange rate reaches 2 iPEFI/PEFI, you will receive 200 PEFI for staking. The current ratio is 1.2727 iPEFI/PEFI.
Yield Farming (Igloos)
Igloos enables you to stake LP tokens in exchange for a portion of all PEFI token awards distributed by the network. Several popular token pairs, such as AVAX-PEFI and AVAX-ETH, are offered on the platform. The team claims that the majority of farms listed on Penguin Finance will have a higher APR than their competitors on the largest Avalanche DEXs.
Check out our How to Use Igloos step-by-step guide to get started with farming.
Rather than establishing a new token with no utility or actual value, the team has chosen to leverage iPEFI to ensure that no centralized entity may manipulate the token sale for their personal benefit.
- Fair Token Distribution with a much lower barrier of entry – smaller fish can also participate. Our launchpad is very much for penguins, not whales.
- No KYC – this means that our launchpad is open to everyone, no matter where you are in the world. More importantly, your privacy is protected.
- Support for new projects – we provide support every step of the way and help our IDO partners grow. Their success is also our responsibility and we take this very seriously. The IDO is just the beginning of our partnership!
Club Penguin (Pools)
Club Penguin is a single-asset iPEFI staking protocol; think of it as stake-ception. You can stake your iPEFI in different contracts to earn tokens from your favorite projects native to Avalanche. We will be providing plenty of options for everyone to choose from.
- No iPEFI lockup period – stake and unstake as you please
- No withdrawal fees
- No risk of impermanent loss
Penguin Emperor (King of the Hill game)
Users with iPEFI may engage in the Penguin Emperor, a game in which they must steal the throne and compete against other users to see who can stay on it the longest. At the conclusion of the match, the top users are rewarded with iPEFI from a jackpot pool. Each time a user makes a bid to take the throne, the protocol costs them a 3% fee. The protocol retains two-thirds of these fees for the jackpot pool and sends the remainder to the PEFI Nest for stakeholder distribution. Various game modes are available, including Blitz, Marathon, and Standard (limited-time events also exist).
Penguin Arena (Gaming dApp)
The Penguin Arena will be a natively developed gaming dApp comprised of a number of mini-games. The Arena is still under development, and specifics are not yet available. However, it is fair to assume that you will require iPEFI.
CryptoPuffies NFT Collection
CryptoPuffies is a collection of 8888 randomly generated cute monster avatars living on the Avalanche network. Each Puffy is completely unique with its own colors, clothing, and stats.
The CryptoPuffies collection goes beyond intangible value, as each one comes with utility within the Avalanche ecosystem. No passive PEFI & iPEFI rewards, instead AVAX rewards. Minting here
In Q1 2022, the team is releasing:
- New IDOs on the Penguin Launchpad V2: Decentralized, fair, and private fundraising with no KYC.
- CryptoPuffies (NFTs): A family of cute, multi-utility furry creatures coming to Avalanche.
- CEX Listings: Significantly increase the accessibility, volume, and liquidity of PEFI.
- Emperor V2: Consistent. Play-to-earn. Avalanche Rush incentives.
Learn more about the Q1 2022 ROADMAP here
- Token Name: Penguin Finance
- Ticker: PEFI
- Blockchain: Avalanche
- Token Standard: ARC20
- Contract: 0xe896CDeaAC9615145c0cA09C8Cd5C25bced6384c
- Token Type: Utility
- Total Supply: 21,000,000
- Circulating Supply: 15,264,810
The Penguin Foundation is funding the initiative with its own money, as well as the costs that come with such an ambitious mission. The 10% Team Distribution will be utilized to employ the greatest personnel in the crypto field in order to make the penguin vision a reality.
The distribution of the ecosystem’s native token, $PEFI, will take place without the need of a pre-mine, an ICO, an IDO, or venture capital. Through airdrops and incentives, the token will be given to the whole community.
Token Release Schedule
- 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: 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 grow the project, compensate designers and maintain community managers.Additionally, this allocation will support Launchpad token acquisitions to provide as much value as possible to iPEFI holders. Once a Launchpad Distribution is concluded, 100% of tokens received will be returned to this endowment for future use in other Launchpads, marketing activities, community competitions, etc.
- 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. The MasterChef distributes this 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, free to use the funds for whatever the Penguin Community sees fit in the future. They may be burned, distributed, or used for creative proposals that our community will be able to vote on in the future. The Penguin DAO funds have not yet been minted since the DAO is not live.
Token Use Case
- Use for revenue staking.
- In the Penguin Finance ecosystem, a 0.3% transaction fee is distributed.
- PEFI tokens will be used in a number of ways, including custom Yield farming tactics, Prediction Markets, forthcoming ultra-low-fee NFTs, and Penguin Arena.
Market and Community
- Frostbyte (Co-Founder) FrostByte is Penguin Finance’s project manager. He is in charge of the hiring process, accounting, and other administrative tasks. He’s also involved in the development of both frontend and backend applications.
- CryptoBanker (Smart Contract Wizard) CryptoBanker is a seasoned veteran in Solidity. He’s developed several DeFi protocols on Ethereum and has reported several vulnerabilities to top-tier projects. In addition, he’s behind Penguin Finance’s secure, gas efficient, and unique contracts. He’s also participated in defining PEFI’s tokenomics and the mechanisms behind our dApps.
- Optisman (Lead Frontend Developer) Optisman manages the development and maintenance of PeFi’s websites. He’s a top-tier developer with vast experience within decentralized finance. Be it night or day, Optisman can handle any last-minute emergency with ease. Optisman is also an avid Solidity developer with tremendous output.
- Peter (Frontend Engineer) Peter has many years of experience within the cryptocurrency space. Specifically within the development of superb front-end applications, creating intuitive and classy UI elements, APIs, and more. Peter has enabled penguins to enjoy the best UI on Avalanche.
Art & Brand Team
- Cody Maverick (Co-Founder)Cody Maverick specializes in marketing and design. He manages social media accounts, giveaways and gives the Art team direction to maintain PeFi’s renowned brand image through astonishing graphics, motion videos, and social engagement.
- Mar (Graphic Designer)Mar has been a designer for Penguin Finance since release, and for a good reason. She’s a creative 2D artist that has drastically improved our branding by creating logos, artworks, stickers, and a clean user interface that help Penguin Finance distinguish itself from other crypto projects in the space. She also assists in art direction as her design decisions help keep the brand congruent and lively.
- Cris (Graphic Designer) Cris is a talented graphic designer specializing in 2D art. We incorporate her artworks into our brand and social media posts. She’s the creative genius behind our new PEFI logo and mind-blowing Twitter banner, as well as the artworks present throughout the documentation.
- VicenzoStudio (3D Artist & Animator) VicenzoStudio is a 3D animation/design mastermind that has been with us ever since Penguin Finance had floating astronaut penguins on the website. Playing a crucial role in creating our teaser videos, marketing content and collectible penguin NFTs, he gives our Penguins life and personality.
- NaotaMax (3D Artist) NaotaMax is a creative 3D artist & video editor. He is responsible for the epic meme edits we’ve released, and he helps model 3D scenarios used in our motion videos.
Penguin Finance is a DeFi platform that allows users to optimize revenues while supplying liquidity to Avalanche Network platforms. Penguin products are quite innovative. In the short term, the successful combination of NFT + DeFi + Gaming will raise transaction volume and platform Fee. The Token price will gain considerably from the Deflation mechanism.
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If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.