Club Penguin is coming to Avalanche: Earn Free Tokens by Staking iPEFI.
To reward our most long-term investors and attract new ones, we have made it our priority to dramatically increase the perks and utility that Penguins in the Nest currently enjoy. Every day, we’re thinking and developing new and innovative applications to bring value to our penguins.
A fundamental step in the right direction is the introduction of our Club Penguin dApp, designed to give iPEFI utility beyond the passive PEFI rewards and Launchpad/game access that it already offers. Now, you’ll be able to earn new tokens from popular Avalanche projects by simply staking your iPEFI in the Club. Of course, this dApp is exclusive to Penguins in the Nest, so make sure you start staking if you haven’t already!
How it works
The Club Penguin will function as a single-asset iPEFI staking protocol; think of it as “stake-ception.” You stake your PEFI and get iPEFI, which you can then stake in different contracts to earn tokens from your favorite projects native to Avalanche. They will provide plenty of options, all without the risk of impermanent loss.
Their pools will be called Icebergs and will be displayed in the main app on a separate page. You won’t have to unstake your iPEFI to participate in these pools and earn complimentary tokens, as your iPEFI will continue to grow in value regardless of where it is located. Since the ratio of iPEFI is growing, every iPEFI token increases in value even when staked in a smart contract.
The Penguin Finance team has already secured many deals with different projects (and a network) throughout the ecosystem. They designed the infographic below, which they presented to their teams at Verso Finance, BooFinance, Sherpa Cash, AVME, Gondola, Lydia, ELK, and others. Communities will mutually benefit, and this program will help grow the Avalanche network as a whole.
About Penguin Finance
Penguin Finance is a platform powered by Avalanche, building an innovative set of decentralized applications, financial products, and documentation for technologically savvy individuals and those with absolutely no knowledge of cryptocurrency.
We’re bridging the gap between DeFi and mass adoption by offering ultra-low fees, an intuitive UX design, and the best documentation/tutorials. PeFi is made for penguins by penguin
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