Pangolin: A Community-Driven DEX for Avalanche and Ethereum Assets
Pangolin to showcase Avalanche’s speed and cost efficiencies with a cornerstone DeFi application.
Activity on Avalanche is increasing every day, with over 1,000 unique assets created on the platform and the newly launched Avalanche-Ethereum Bridge now helping assets flow between the two ecosystems. As new assets and applications are launched on Avalanche, users need access to cornerstone decentralized finance (DeFi) tools.
Today, we’re excited to see the launch of Pangolin, a community-driven decentralized exchange (DEX) running on Avalanche that supports all Avalanche and Ethereum tokens. Trading and liquidity mining on Pangolin will begin at 7:00 p.m. UTC to allow interested users to review tutorials and set up their tooling.
Pangolin uses the same automated market-making (AMM) model as Uniswap, but is built on Avalanche to drastically improve the user experience by reducing fees to a fraction of what they pay today and finalizing trades instantly.
In addition to a significant performance upgrade, Pangolin features a liquidity mining program that enables liquidity providers to yield the native governance token, called PNG. All PNG tokens will be distributed to the community, in a model known as a “fair launch.” There will be no premine and no early access tokens for the team. Pangolin also directs trading fees (0.30%) to liquidity providers.
What makes Pangolin different from other DEXs?
Pangolin is underpinned by Avalanche. It is fully compatible with Ethereum assets and tooling, but with faster finality, higher throughput, low fees, and full compatibility with Ethereum tooling and token standards.
Not only does this enable a wider set of developers to experiment and innovate with new assets and applications, but it also empowers capital efficiencies more closely mirroring institutional finance than what traders have come to expect in cryptocurrencies and digital assets.
Pangolin is community-driven, open, fair, and democratic. None of the PNG tokens are reserved for the team. The project puts the users first and foremost.
Coupled with the Avalanche-Ethereum Bridge, Pangolin enables DeFi users to pursue yield opportunities with the same asset across two blockchains for the first time.
How to get started?
Pangolin is now live, ushering in a new chapter in the history of decentralized exchanges and finance. Trading and liquidity mining on Pangolin will begin at 7:00 p.m. UTC to allow interested users to review tutorials and set up their tooling.
For more information on Pangolin, the PNG token, and tutorials for using the application, please go to www.Pangolin.exchange.
You can also follow the Pangolin on the following social channels:
Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is the first smart contracts platform that processes 4,500+ transactions/second and instantly confirms transactions. Ethereum developers can quickly build on Avalanche as Solidity works out-of-the-box.