What is Pangolin Exchange? Pangolin Exchange is an AMM-based decentralized exchange (DEX) running on the Avalanche Blockchain. In this article, you can access answers to frequently asked questions such as what is Pangolin Exchange, how does it work, and what are its features. As Kriptokoin.com, we have prepared it for our curious readers. Let’s examine together.
What is Pangolin Exchange?
Pangolin Exchange is a decentralized exchange (DEX) running on Avalanche and supporting all Avalanche and Ethereum tokens. This AMM-based DEX regulates asset prices with an algorithm rather than an order book. In fact, Pangolin uses the AMM model with its rival Uniswap. However, it reduces transaction fees to a very small fraction compared to Uniswap and settles transactions instantly. This greatly improves the user experience. Pangolin owes its speed and low cost to being built on Avalanche. In addition, DEX has a community-oriented, open, fair and democratic governance. The best example of this is seen in the exchange’s native token, the PNG coin. None of the PNG tokens are reserved for the Pangolin team and are distributed in a so-called “fair distribution” model.
What is a PNG token? What does it do?
The PNG token is the native governance token of the Pangolin exchange. Pangolin, a community-focused DEX, is managed by PNG owners. PNG holders get benefits such as bidding and voting. Besides, the token acts as a reward for miners and owners. Depositors save on transaction fees and get paid via PNG. However, Pangolin directs 0.30% of its transaction fees to liquidity providers. PNG holders can earn passive income through liquidity mining. Additionally, PNG includes the staking feature. Users can earn Wrapped AVAX (WAVAX) by staking their tokens.
What is Pangolin Exchange? What are its features?
- Swap: Token swap on Pangolin is simple, cost effective and high speed. In fact, this is a feature that other AMM platforms have. But the speed and efficiency with which the Pangolin exchange is implemented provides significant cost savings for traders.
- Adding Liquidity: Allows token holders to add liquidity to pools. Liquidity providers receive PGL tokens, which are a representation of your ownership of the pool. They also earn 0.25% in proportion to their share in the pool. Fees are added to the pool, accrued in real time and can be claimed via liquidity withdrawal. Thus, users are encouraged to provide liquidity.
- Liquidity Mining: After successfully creating a pool or adding liquidity to an existing pool, you will receive PGL tokens. These cryptocurrencies are a representation of your ownership in a liquidity pool. PGL holders can use their assets to earn PNG governance tokens by investing them in one of the participating pools.
- PNG Stake: Users can stake their PNG assets to earn Wrapped AVAX. This is part of the Avalanche Rush incentive program.
In addition to all this, Pangolin is a very fast exchange. However, it charges a small transaction fee in exchange for fast transactions. The project continues to evolve in a purely community-oriented manner. Finally, the fair, transparent and user-oriented altcoin distribution model attracts investors.
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