Question 1

What is Pangolin (PNG)?

Accepted Answer

Pangolin (PNG) is a cryptocurrency token that functions within the ecosystem of a decentralized exchange (DEX) by the same name, Pangolin. The token is integral to the Pangolin platform, serving as its primary utility token.

Pangolin Exchange is built on the Avalanche blockchain, noted for its high throughput and minimal transaction costs. Pangolin is designed to enable fast, secure, and cost-effective trading of a variety of digital assets. It employs an automated market maker (AMM) model, which uses user-funded liquidity pools rather than traditional order books.

Question 2

What is PNG Used For?

Accepted Answer

PNG tokens are utilized in several ways within the Pangolin ecosystem. Firstly, PNG holders can engage in the governance of the Pangolin platform, proposing, and voting on protocol changes. This community-driven approach is key to the decentralized nature of the exchange. Secondly, PNG is often provided as an incentive for users who add liquidity to the platform's pools, thereby promoting better service and trading efficiency. Finally, users can also stake their PNG tokens to earn rewards, a process that helps secure the network and can impact the liquidity of specific trading pairs.