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What is the PEFI token in Penguin Finance used for?

How the PEFI token is used. Penguin Finance is a platform for auto-compounding and yield farming and a gamified DeFi hub.

The PEFI token

PEFI is the governance and utility token of Penguin Finance on Avalanche Blockchain.

PEFI token is used for

  • Liquidity mining
  • Participating in IDOs
  • Rewards

How could value accrue to the PEFI token?

Staking

  • Token holders can stake their PEFI to xPEFI to earn percentage of the inflation and fees from usage of farms and games.

BURN

  • 75% of fees from farms to market buy and burn tokens.
  • 100% of Paper Hands Penalty i.e. withdrawing from xPEFI (currently 1%)
  • Some of the fees generated from dAPPs on Penguin Finance.

What is Penguin Finance?

Penguin Finance is a platform for auto-compounding, yield farming and a gamified DeFi hub.

Yield farming in Penguin Igloos is done by depositing LP tokens from Pangolin DEX.

Penguin Finance is also introducing a crypto game, NFTs, launchpad and a prediction market on the platform.

Holders of the token can stake it to earn fees and part of the inflation.

Upcoming features

Club penguin

Holders of xPEFI will be able to stake them aswell to earn rewards from other projects in the Avalanche Ecosystem (without impermanent loss).

Penguin Arena

A game on the platform featuring NFTs.

Penguin Emperor

A bidding game with xPEFI.

Penguin DAO

Decentralizing governance of the protocol to the community.

PEFI Tokenomics

Total supply: 21 000 000

Distribution:

  • 50% – Community
  • 10% – Penguin DAO Treasury
  • 10% – Team
  • 5% – Marketing
  • 25% – Airdrops

Inflation

  • 80 PEFI/Block.

Long term 0.5 PEFI/block.

DOCS

Similar projects

  • SNOB
  • LYD

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