Introducing Penguin Launchpad
Penguin Finance introduced the best launchpad on Avalanche – Penguin Launchpad.
How do normal Launchpads work?
A launchpad platform is a tool that allows projects to distribute their new tokens to as wide an audience as possible in a fair fashion. Projects benefit from the added exposure, easy token distribution and are able to focus on what matters most, how to build value through their token and products.
In theory, it sounds great. Unfortunately, this is not the case with most launchpad platforms that exist within the crypto sphere today. Many platforms have centralized their token for the benefit of the developer team and keep upwards of 30% of their launchpad token’s supply for developers, advisors, etc. They also avoid a fair launch in order to centralize the majority of their launchpad allocations in the hands of as few as 5 to 8 individuals.
How did we create the best Launchpad on Avalanche?
Instead of basing our Launchpad in a new token with no utility or inherent value, we’ve decided to utilize xPEFI in order to ensure that no centralized entity can manipulate the token offering for their own benefit. xPEFI is the token that represents staked $PEFI, the latter was product of a fair launch and thus benefits from being one of the most decentralized tokens within the Avalanche Ecosystem.
What is xPEFI?
xPEFI (Nest) is the token you receive once you stake your PEFI. Since xPEFI receives the fees collected from all current and future dApps within the Penguin Ecosystem, it’s PEFI value can only ever increase. That means xPEFI will always be redeemable for more PEFI than you invested minus the Paper Hands Penalty (4.04% at the time of writing, it is lowered every week). Apart from being the necessary token for participating in all of Avalanche’s hottest token distributions, xPEFI has a myriad of benefits:
You cannot buy xPEFI on a DEX, the safest way to get it is by staking your PEFI in the Nest here (https://penguinfinance.org/nests)
- The highest single asset staking APY on Avalanche.
- There is no risk of impermanent loss.
- The Nest collects rewards automatically! You don’t have to worry about reinvesting.
- Access to FREE tokens via the Club Penguin initiative. Use xPEFI to participate and discover new projects at no cost.
- Future access to PEFI governance decisions through the Penguin DAO.
- Access to exclusive Airdrops (one is set to happen very soon).
- Exclusive access to the Penguin Emperor and Penguin Arena dApps.
How can you participate in the Penguin Launchpad?
The amount of $SHERPA and future Launchpad Offerings you’ll be able to purchase will depend on the amount of xPEFI you hold. If you don’t have any $PEFI yet, you can buy through Pangolin. Follow this guide if you don’t already hold $PEFI tokens. (https://penguin-finance.medium.com/penguin-finance-getting-started-923c383bb060)
What is Penguin?
Penguin Finance (PeFi) is an exciting new yield farming project on $AVAX.
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