Pangolin PNG Price

What is Pangolin (PNG)?

Pangolin (PNG) is a decentralized exchange (DEX) built on the Avalanche blockchain, designed to facilitate the trading of cryptocurrencies in a fast and efficient manner. Launched in early 2021, Pangolin aims to provide a seamless trading experience while leveraging the advantages of the Avalanche network, such as low transaction fees and high throughput. As of 2024, Pangolin has gained notable traction, with over $100 million in total value locked (TVL) and a growing user base. The platform enables users to trade various tokens directly from their wallets, providing liquidity through automated market-making (AMM) mechanisms.

Who are the Founders of Pangolin?

Pangolin was co-founded by a team of blockchain enthusiasts and developers, including Patrick O'Grady, who played a crucial role in the project's development and ecosystem growth. The founding team is composed of individuals with diverse backgrounds in software development, finance, and blockchain technology. They aimed to create a user-friendly DEX that could compete with existing platforms while embracing the unique features of the Avalanche network.

How does Pangolin Work?

Pangolin operates on the Automated Market Maker (AMM) model, enabling users to trade tokens without relying on traditional order books. Users provide liquidity by depositing pairs of tokens into liquidity pools, earning fees generated from trades that occur within these pools. The pricing of assets is determined by the ratio of tokens in the pool, utilizing a constant product formula to ensure liquidity is always available. Additionally, Pangolin implements features like limit orders and support for cross-chain swaps, enhancing the trading experience. As of 2024, Pangolin has integrated with various DeFi protocols on Avalanche, further expanding its utility.

Key Features of Pangolin

• Low Fees: Transaction costs on Pangolin are significantly lower than those on Ethereum-based DEXs, making it accessible for all users.
• Fast Transactions: Leveraging Avalanche's consensus mechanism, transactions are confirmed in seconds, providing a smooth user experience.
• Liquidity Mining: Users can earn PNG tokens by providing liquidity to specific trading pairs, incentivizing participation in the ecosystem.

Top Use Cases of Pangolin

Pangolin serves multiple use cases within the DeFi ecosystem:

• Token Swapping: Users can easily swap various cryptocurrencies directly from their wallets without the need for an intermediary.
• Liquidity Provision: By depositing tokens into liquidity pools, users earn trading fees and can participate in liquidity mining programs.
• Yield Farming: Users can stake their PNG tokens in different pools to earn rewards, enhancing their overall returns in the DeFi space.
• Cross-Chain Compatibility: With the integration of other networks, Pangolin allows users to trade tokens from different blockchains seamlessly.

How to Keep your Pangolin Safe?

Ensuring the safety of your PNG tokens and assets involves several best practices:

• Use Hardware Wallets: Store your PNG tokens in hardware wallets like Ledger or Trezor for enhanced security against hacks.
• Enable Two-Factor Authentication: Always enable 2FA on any accounts associated with your Pangolin trading activities to add an extra layer of security.
• Be Cautious of Phishing Scams: Always verify that you are on the official Pangolin website and avoid clicking on suspicious links.
• Keep Your Software Updated: Regularly update your wallet software and any associated applications to protect against vulnerabilities.
• Diversify Your Assets: Avoid putting all your assets into a single platform or type of investment to mitigate risk.