Tokenomics của PEN (PEN)

The PENGU token is the native SPL token of the Pudgy Penguins ecosystem, launched on the Solana blockchain on December 17, 2024. It has also been deployed as an ERC-20 token on Ethereum and Abstract using LayerZero’s Omnichain Fungible Token (OFT) technology.

Issuance Mechanism

PENGU has a maximum token supply of approximately 88,888,888,888 tokens. The issuance was primarily characterized by a large-scale initial distribution event rather than a continuous mining or inflationary minting process.

The project team performed a significant one-time burn of over 12 billion PENGU tokens (approximately 13.69% of the maximum supply) on February 5, 2025. These tokens represented unclaimed portions of the initial airdrop.

Allocation Mechanism

The initial distribution of PENGU was heavily weighted toward the community and ecosystem development. Approximately 50.37% of the maximum supply was allocated to various airdrop recipients.

Usage and Incentive Mechanism

PENGU is currently classified as a meme token with no featured or planned utility within the network or protocol beyond speculative holding and exchange.

• No Staking/Rewards: There are no featured or planned staking or liquidity provisioning mechanisms that allow holders to earn fees, dividends, or additional tokens.
• No Governance: As of April 2025, there is no active governance process. Tokenholders do not have voting rights or the ability to influence project development; the project team retains sole privilege over protocol changes.
• Acquisition: Users can acquire PENGU through major centralized exchanges (Binance, Coinbase, Bybit, Kraken, OKX) and decentralized exchanges (Raydium, Orca, Meteora).

Locking Mechanism and Unlocking Time

The allocations for the "Current & Future Team" and the "Company" are subject to specific vesting constraints to ensure long-term alignment. Both allocations follow a one-year cliff followed by a three-year linear vesting schedule.

Based on the structured unlock schedule, the following trends are observed:

• Initial Unlock: A massive portion of the supply (approximately 61.97 billion PENGU) was unlocked at the Token Generation Event (TGE) on December 17, 2024.
• Cliff Completion: A secondary significant unlock of approximately 1.61 billion PENGU is scheduled for December 17, 2025, marking the end of the one-year cliff for team and company allocations.
• Linear Vesting: Starting in January 2026, the protocol will see monthly unlocks of approximately 722,962,963 PENGU (roughly 1.15% impact on circulating supply each month). This linear release is scheduled to continue through late 2028.