Powered by Ava Labs, Avalanche has grown into a fully-featured platform in the past few years. It offers a highly customizable interoperable heterogenous open-source platform. The Avalanche-Ethereum Bridge (AEB) helps assets flow between the two ecosystems.
Pangolin is built on Avalanche. It is a community-driven decentralized exchange (DEX) for Avalanche and Ethereum assets. It drastically improves user experience by reducing fees and instantly finalizing trades.
What is Pangolin?
- is a DEX that runs on Avalanche,
- works the same way as Uniswap using the automated market-making (AMM) model, and
- features a native governance token (PNG).
PNG is fully community distributed. It is capable of trading all tokens issued on Avalanche and Ethereum.
Three critically important benefits of Pangolin are:
- fast and cheap trades,
- community-driven development, and
- a fair and open token distribution.
Firstly, Pangolin can finalize trades cheaply and quickly. As it is built on Avalanche, it enables users to swap assets while enjoying transaction finality in a flash and lower transaction fees. Trades on Pangolin; most of the time; will feel as fast as trades on centralized exchanges.
Secondly, it is community-driven. The PNG token enables the community to drive the full product development.
Finally, Pangolin features a 100% community-focused PNG token distribution model. In other words, this means that all tokens are distributed directly to the community, without any allotments to the team, investors, advisors, or insiders.
Pangolin follows a fair launch model with its PNG token. No PNG tokens are allocated to the team, advisors, investors, or any sort of insiders. Therefore, it is entirely community-driven and community-owned. PNG is capped at 538M tokens supply. The first 512M tokens, or 95% of tokens, are dedicated to the community treasury, initially used to fund liquidity mining. The remaining 26M tokens, or 5%, are dedicated to a community airdrop.
What makes Pangolin different from other DEXs?
- Pangolin is fully compatible with Ethereum assets, tooling, and token standards, but with lower fees, faster finality, higher throughput. So this enables a wider set of developers to experiment and innovate with new assets and applications.
- Further, it is community-driven, fair, open, and democratic. As PNG tokens are not reserved for the anyone, it puts the users first and foremost.
- Moreover, AEB enables decentralized finance (DeFi) users to pursue yield opportunities with the same assets across two blockchains for the first time.
Pangolin was launched on Avalanche on Feb. 10, 2021. It uses AEB that allows the assets to flow seamlessly between the two ecosystems. Also, it solves two critical issues that other AMMs face: substandard performance and governance controls that only benefit a few large holders.
As a result, with Pangolin, users will be able to enjoy speeds like centralized-exchange without giving control to large insiders and without compromising access to their existing asset portfolio.