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February 10, 2021, 10:20:59 PM |
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Pangolin is a decentralized exchange (DEX) which runs on Avalanche, uses the same automated market-making (AMM) model as Uniswap, features a native governance token called PNG that is fully community distributed and is capable of trading all tokens issued on Ethereum and Avalanche. In a crowded marketplace with multiple contenders, Pangolin offers three critically important benefits: fast and cheap trades, community-driven development, and a fair and open token distribution.
First, Pangolin can finalize trades quickly and cheaply. Since Pangolin is built on Avalanche, it enables users to swap assets while enjoying sub-second transaction finality and transaction fees as low as a few cents. Oftentimes, trades on Pangolin will feel as fast as trades on centralized exchanges. Second, beyond the significant performance upgrades to the technical status quo, Pangolin is community-driven. The native governance token, PNG, enables the community to drive the development of the product in full. Third, but not least, Pangolin features a 100% community-focused token distribution model, meaning that all tokens are distributed directly to the community, without any allocations to team, advisors, investors, or insiders.
Users of existing AMMs, such as Uniswap and Sushiswap, are already familiar with their mechanism of action. Therefore, the rest of this post does not discuss how Pangolin achieves its trading capabilities. Instead, we discuss the PNG token in more detail, including its distribution mechanism and governance rules.
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