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

PNG Price Prediction

The price of PNG is predicted to fluctuate between $0.3224 and $0.7885 in 2030, with a potential peak of $2.55 and a low of $1.51 by 2040. By 2050, technical analysis suggests a trading range of $3.20 to $4.58 with an average price of approximately $3.18.

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.

Airdrops of PNG

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.

Exchanges to Buy PNG

1. MEXC:

Step1. 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

Step2.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.

Step3. 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).

Step4. 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.

2. Binance:

Step1. 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.

Step2. 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.

Step3. 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.

Step4. 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.

Step5. 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.

Step6. Connect Your Wallet

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

Step7. 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.

Step8. 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.ioand 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.

Step9. 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!

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.

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: 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