Penguin Finance is a Decentralized Financial Institution (DeFI) platform developed on the Blockchain Avalanche Network.
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.
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.
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.
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.
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.
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).
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 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
Learn more about the Q1 2022 ROADMAP here
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.
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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.
Find more information:
Website: https://penguinfinance.org/
Twitter: https://twitter.com/penguin_defi
Telegram: https://t.me/penguin_defi
Discord: discord.gg/Y7GZVATWfP
Reddit: https://www.reddit.com/r/PenguinFinance
Medium: https://penguin-finance.medium.com/
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
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.
Marshall
Coincu Ventures
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