PNG

Overview of PNG

PNG, also known as Pangolin, is a kind of cryptocurrency that was introduced in 2021. While the main founders of this digital asset remain unidentified, it has already gained support from several exchanges including Uniswap, Sushiswap, and Balancer. For storage, there are several options available for PNG token holders, among them are the well-known MetaMask and Trust Wallet. Despite its novelty in the crypto market, it has quickly established its presence and continues to evolve.

Pros and Cons

1. Supported by Multiple Exchanges: The Pangolin (PNG) token has garnered the support of multiple exchanges, including Uniswap, Sushiswap, and Balancer. This can be a sign of validity and acceptance in the cryptocurrency market.

2. Multiple Storage Options: PNG token holders have a number of storage options, which include well-established wallets like MetaMask and Trust Wallet. These options for storage give holders flexibility and assurance in safely holding their cryptocurrency.

3. Continual Evolution: Despite being fairly new in the cryptocurrency market, PNG is continually evolving as indicated by updates and improvements on its system which may be a positive sign of growth and longevity for this asset.

1. Founded by Unidentified Entities: The founders of PNG remain unidentified. This may raise trust issues among potential investors as the credibility and intentions of the founders plays a significant role in a cryptocurrency's success.

2. Market volatility: Like many cryptocurrencies, PNG is susceptible to the market's volatility. While volatility can mean high reward, it also increases risk, especially for those who are less familiar with the dynamics of the cryptocurrency market.

What Makes PNG Unique？

Coin Airdorp of distinguishes itself from other cryptocurrencies through its utilisation of the Avalanche network, a platform known for its scalable and efficient infrastructure. This allows the PNG token to benefit from increased transaction speeds and lower fees compared to cryptocurrencies on more congested networks.

Furthermore, PNG operates as a decentralised exchange (DEX) on Avalanche, providing an automated market-making (AMM) facility, a feature that facilitates trading by algorithmically creating market liquidity. This could potentially offer competitive advantages over traditional exchanges by eliminating the need for a matching order book and providing opportunities for users to earn fees by becoming liquidity providers.

How Does PNG Work？

The working principle of Pangolin (PNG) is based on the automated market-making (AMM) model. Unlike traditional exchanges, which use an order book to match buyers and sellers, an AMM allows trades to be executed directly against a liquidity pool. These pools are funded by users who deposit their assets into them. By doing so, these liquidity providers earn passive income in the form of transaction fees based on the proportion of the pool that they provide.

In addition, PNG utilizes the Avalanche network for its operations. The Avalanche platform is known for its scalability and efficient operation, providing Pangolin with a potential edge in the form of higher transaction speeds and lower fees.

The distribution and transaction of PNG tokens are governed by smart contracts, which are self-executing contracts coded with the terms of the agreement between buyer and seller being directly written into lines of code.

Market & Price

Past Airdrops:

• PSB Airdrop (March 2021): 1% of the total PSB supply (Pangolin's governance token on Songbird Network) was airdropped to PNG holders. This airdrop has ended.

• Multiple Coin-Specific Airdrops (2021-2023): Pangolin partnered with various projects like Avalanche (AVAX), SushiSwap (SUSHI), Curve (CRV), and others to airdrop PNG tokens to their respective token holders. These airdrops also concluded over time.

Current Airdrops:

• Currently, there are no known active airdrops distributing PNG tokens directly.

Recent Performance:

• As of October 26, 2023, PNG is trading at around $0.077 USD.

• Over the past 24 hours, it has experienced a slight decrease of about 0.2%.

• The past week has also been turbulent, with a 7-day low of $0.0669 USD and a high of $0.0826 USD.

Historical Fluctuations:

• PNG launched in 2021 and initially saw a surge in price, reaching an all-time high of $16.75 USD in May 2021.

• Since then, it has undergone significant corrections, like the one in June 2023 that brought it down to its current range.

• Overall, the price has been trending relatively flat in recent months.

Exchanges to Buy PNG

There are ten exchanges that support the trade of Pangolin (PNG) tokens:

1. MEXC:

1. Create a free account on MEXC Crypto Exchange via website or the app to buy Pangolin Coin.

Your MEXC account is the easiest gateway into buying crypto. But before you can buy Pangolin (PNG) , youll need to open an account and pass KYC (Verify Identification).

• Register via the MEXC App

• Register via the MEXC website using your email

• Register via the MEXC website using your mobile number

2.Choose how you want to buy the Pangolin (PNG) crypto tokens.

Click on the “Buy Crypto” link on the top left of the MEXC website navigation, which will show the available methods in your region.

3. Store or use your Pangolin (PNG) on MEXC.

Now that you bought your crypto, you can hold it in your MEXC Account Wallet or send it somewhere else via blockchain transfer. You can also trade for other crypto or stake it on MEXC Earning Products for passive income (Savings, Kickstarter).

4. Trade Pangolin (PNG) on MEXC.

Trading crypto such as Pangolin on MEXC is easy and intuitive. Millions of crypto users trust our platform. You only need to complete a few steps to execute a crypto trade.

See this link for details on how to buy PNG: https://www.mexc.com/how-to-buy/PNG

2. Binance:

1. Download a Trust Wallet Wallet

There are several crypto wallets to choose from within the Avalanche network and Trust Wallet appears to be the most integrated. If you are using a desktop computer, you can download Google Chrome and the wallet Chrome extension. If you prefer using your mobile phone, you can download the wallet via Google Play or the iOS App Store if it‘s available. Just make sure that you are downloading the official Chrome extension and mobile app by visiting Trust Wallet’s website.

2. Set up your Trust Wallet

Register and set up the crypto wallet via the wallet‘s Google Chrome extension or via the mobile app you downloaded in Step 1. You may refer to the wallet’s support page for reference. Make sure to keep your seed phrase safe, and take note of your wallet address. You will be using it later on Steps 4 and 6.

3. Buy AVAX as Your Base Currency

Once your wallet is setup, you can login to your Binance account and proceed to the Binance Crypto webpage to buy the AVAX. If you are not an existing user, you can refer to our How to Buy AVAX guide on registering and buying your first cryptocurrency on Binance.

4. Send AVAX From Binance to Your Crypto Wallet

Once you buy your AVAX, go to your Binance wallet section and look for the AVAX you purchased. Click on withdraw and fill up the required information. Set the network to Avalanche, provide your wallet address and the amount you want to transfer. Click the withdraw button and wait for your AVAX to appear in your Trust Wallet.

5. Choose a Decentralized Exchange (DEX)

There are several DEXs to choose from; you just have to make sure the wallet you selected in Step 2 is supported by the exchange. For example, if you use Trust Wallet wallet, you can go to 1inch to make the transaction.

6. Connect Your Wallet

Connect your Trust Wallet wallet to the DEX you want to use by using your wallet address from Step 2.

7. Trade Your AVAX With the Coin You Want to Get

Select your AVAX as the payment and select the Pangolin as the coin you want to acquire.

8. If Pangolin Doesnt Appear, Find its Smart Contract

If the coin you want does not appear on the DEX, you can refer to https://snowtrace.io/ and find the smart contract address. You can then copy and paste it into 1inch. Beware of scams and make sure you got the official contract address.

9. Apply the Swap

Once you are done with the previous steps, you can click on the Swap button. From deciding where to buy Pangolin to making the purchase, your crypto transaction is now complete!

See this link for details on how to buy PNG: https://www.mexc.com/how-to-buy/PNG

3. Balancer: An automated portfolio manager and trading platform that supports the pair PNG/WBTC.

4. 1inch: It's an aggregator that navigates several DEXs for the best trading rates. PNG can be traded against various currencies including ETH and DAI.

5. Curve Finance: A decentralized exchange optimized for efficient stablecoin trading. It supports the PNG/DAI and PNG/USDT pairs.

6. Kyber Network: Operating on the Ethereum and Polygon blockchains, this protocol also supports PNG/ETH trade.

7. Bancor Network: A protocol on the Ethereum blockchain for automated conversion of cryptocurrency tokens. It supports PNG/BNT pairing.

8. Mooniswap: An automated market maker promising features like virtual balances and slippage fees to protect traders from price impact. Supports PNG/ETH pair.

9. Pangolin Exchange: This is the native decentralized exchange for PNG where you can trade PNG against several other tokens like AVAX, WBTC, and LINK.

10. Zero Exchange: A multi-chain DEX trading on Avalanche, Ethereum, and BSC networks. It allows for PNG/AVAX and PNG/ZERO trading pairs.

How to Store PNG？

Storing Pangolin (PNG) involves a process that's akin to what you would do with other tokens that follow the ERC-20 standard. PNG tokens can be stored in any wallet that supports these kinds of tokens. There is a list of wallet types:

• Avalanche Wallet: This is the official web-based wallet of the Avalanche network. It supports PNG and other ERC20 tokens.

• MetaMask: This is a web extension wallet used for storing ERC20 tokens. However, it can be configured to interact with the Avalanche network.

• Ledger: Ledger is a hardware wallet known for high security as it keeps your tokens in offline storage.

• Trezor: Trezor is another hardware wallet option, and it provides secure offline storage to protect your PNG tokens from potential online threats.

• Trust Wallet: Trust Wallet is a mobile wallet which supports multiple cryptocurrencies including Avalanche Network tokens. It offers an easy-to-use interface and secure environment.

• Coinomi: Coinomi is a mobile and desktop wallet. It has robust security features and supports a multitude of cryptocurrencies, including Avalanche tokens.

• MyEtherWallet (MEW): Originally built for Ethereum and ERC20 tokens, MEW can also be configured to store Avalanche tokens.

• Atomic Wallet: It's a desktop and mobile wallet accommodating multiple cryptocurrencies and known for its strong security measures.

• Guarda Wallet: This is a multi-platform wallet which supports a wide range of cryptocurrencies. It also contains features for buying and exchanging crypto.

• Exodus: Exodus is a desktop, mobile, and hardware wallet. It supports over 100 cryptocurrencies and offers a user-friendly interface for managing your assets.

Is It Safe？

Pangolin (PNG) is well-equipped when it comes to security, particularly with the provision of hardware wallet support, offering a level of security that is ideal for the long-term storage of cryptocurrencies. In the realm of wallets for PNG tokens, hardware wallets such as Ledger Nano S are recommended for enhanced security. A hardware wallet stores tokens offline in a secure environment and is considered one of the safest methods for storing crypto assets.

Concerning exchanges that facilitate transactions of PNG tokens like Binance, OKEx, Upbit, etc. they maintain industry-standard security measures. The security measures include two-factor authentication (2FA), withdrawal whitelist, and encryption technology. Multi-tier and multi-cluster systems architecture are also used to enhance security.

How to Earn Pangolin (PNG) Cryptocurrency？

• Trading on Pangolin DEX: Use the Pangolin decentralized exchange (DEX) to trade other cryptocurrencies for PNG. This offers potential profits through favorable price movements and skilled trading strategies. However, it involves risk like any other crypto trading activity.

• Participating in liquidity pools: Provide liquidity to Pangolin's liquidity pools by depositing supported cryptocurrencies, earning fees from users exchanging tokens through the pool. This offers a relatively passive income but comes with the risk of impermanent loss (where the value of your pooled assets fluctuates compared to holding them separately).

• Yield farming: Lock your PNG tokens in various DeFi platforms offering yield farming opportunities. These platforms use your tokens to generate returns through various DeFi strategies, potentially yielding high interest. However, the risks can be significant, including smart contract vulnerabilities and platform instability.

• Participating in airdrops and bounties: Keep an eye out for potential future Pangolin airdrops or bounty programs where you can earn free PNG tokens by completing specific tasks or holding other cryptocurrencies. While appealing, be cautious of scams and only participate in verified programs from reputable sources.

• Contributing to the Pangolin ecosystem: Get involved in the Pangolin community by writing articles, developing tools, or participating in governance proposals. If your contributions are valued, you might be rewarded with PNG tokens. This option, however, requires technical expertise and active engagement.

Conclusion

In conclusion, Pangolin (PNG) has carved a niche for itself in the cryptocurrency market as a decentralized exchange (DEX) on the Avalanche network, adhering to an automated market-making (AMM) model. Witnessing integration with numerous exchanges and garnering support for a broad array of storage alternatives, PNG is distinctive amidst many cryptocurrencies due to its innovative utilization of the efficient and highly scalable Avalanche network. Such an approach offers potential benefits that include reduced fees and expedited transaction speed.

The future development prospects of PNG will rely on a variety of factors, including regulatory developments, technological enhancements, and market acceptance. While its adoption and growth could very well result in monetary gain for its holders, this cannot be guaranteed. The inherent risk and volatility associated with all cryptocurrencies means that they should only be viewed as one part of a balanced investment strategy.

FAQs

Q: What sort of cryptocurrency is Pangolin (PNG)？

A: Pangolin is a decentralized exchange token that operates on the Avalanche network and uses an automated market-making model.

Q: What exchanges host trades of the Pangolin token？

A: A variety of exchanges, including Uniswap, Sushiswap, and Balancer, provide support for the trade of the Pangolin token.

Q: How do I securely store my Pangolin tokens？

A: For secure storage of Pangolin tokens, you can opt for a variety of wallets, including MetaMask, Trust Wallet, and hardware wallets like Ledger or Trezor.

Q: Is it risky to invest in the Pangolin cryptocurrency？

A: Like all cryptocurrencies, investing in Pangolin carries inherent risks due to market volatility and should only be considered as part of a diversified investment portfolio.

Q: How does the Pangolin operate and conduct transactions？

A: Pangolin is based on the automated market-maker model and uses the scalable and efficient Avalanche platform, which allows for high-speed transactions and lowered fees.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.