Pangolin is the decentralized exchange (DEX) running on the Avalanche blockchain adopts the same as Uniswap The same automated market maker (AMM) model supports users to trade Avalanche with low fees and high speed. Ethereum Asset. Its core token PNG serves as a governance and utility token, realizing a completely community-driven Decentralization Finance (DeFi) ecosystem.
Core Technology: Efficient Trading Engine Powered by Avalanche
Pangolin’s core advantage comes from the underlying architecture of Avalanche:
- Sub-second transaction confirmation: Thanks to Avalanche’s consensus mechanism, transaction completion time is under 1 second, rivaling the efficiency of centralized exchanges.
- Ultra-low transaction costs: Each transaction fee is only a few cents, far lower than the gas costs of Ethereum ecosystem DEXs.
- Multi-chain compatibility: By integrating Avalanche’s C-Chain, X-Chain, and P-Chain, it supports cross-chain swapping of Ethereum assets (such as ERC-20) with Avalanche native assets.
In 2022, Pangolin further expanded its cross-chain capabilities, becoming the first DEX on the public chain Flare. Utilizing Flare’s State Connector and the interoperability protocol LayerCake, it can directly trade any assets bridged to Flare (including tokens from non-smart contract chains), significantly broadening the range of tradable assets.
PNG Token: The Ecological Core Governed Entirely by the Community
PNG is the governance and utility token of Pangolin, designed to embody the principle of complete community autonomy:
- Token Distribution:
- Total supply cap of 230 million (earlier documents mentioned 538 million, now updated to current consensus data).
- Initially, 95% is distributed to the community through liquidity mining, 5% is allocated for airdrops, with zero reserved for the team or investors.
- Economic Model:
- Staking Rewards: Token holders staking PNG can receive a 0.0425% share of protocol revenue (achieved through token buybacks).
- Deflationary Mechanism: A portion of transaction fees is used to buy back and burn PNG, suppressing inflation.
- Governance Rights: Holders have the right to vote on key parameters such as liquidity pool adjustments and fee rate changes.
According to Gate’s market data, as of August 8, 2025, the foundational data for the PNG token is as follows:
- Circulation: 220.37 million PNG
- Price: 0.138 USD
- Market Cap: 33.78 million USD (Ranked 723)
Ecosystem Expansion: From Avalanche to Multichain Universe
Pangolin continues to expand its ecological boundaries:
- Incentive Program: Joined Avalanche Rush in 2021, receiving 2 million USD in AVAX rewards for single-sided PNG liquidity pool incentives.
- Fiat On-Ramp: Integrated payment provider Wyre, supporting credit card/Apple Pay for direct purchase of AVAX and trading.
- Cross-Chain Milestone: Deployed to the Flare network in 2022 and airdropped 4.6 million tokens to Avalanche users (accounting for 2% of the total Flare version supply).
Market Performance and Future Outlook
- Trading Volume: Historical cumulative trading volume exceeds 15 billion dollars, with over 3000 trading pairs launched.
- User Growth: A smooth onboarding experience (such as fiat entry) attracts a large number of new DeFi users.
- Competitive Positioning: With the performance advantages of Avalanche and a community governance model, it has become an important competitor among multi-chain DEX.
Conclusion: Community-Driven DeFi Paradigm
Pangolin represents a key direction in the evolution of DEX: it has built a truly user-controlled trading ecosystem through a high-performance public chain foundation, a token distribution with no team retention, and continuous cross-chain interoperability. With the integration of new chains such as Flare and the expansion of CEX channels, its multi-chain liquidity network is gradually improving, providing a solution for decentralized finance that combines efficiency and fairness.
