Insights from Fat Penguin Holdings: 10 Key Points After 1000 Days

Unknowingly, I have held the Fat Penguin for over 1000 days. This journey of diamond hands has been tough, but also full of happiness, as the Penguin project has given us so many rewards.

Recently, there have been reports that the Fat Penguin plans to issue tokens, and initially, I was skeptical. After all, the project has always downplayed the issuance of tokens and has never relied on a Ponzi scheme to maintain the price floor.

Over the past three years, the project team and community have been making efforts in both Web2 and Web3 fields simultaneously, continuously enhancing the brand image and gaining global recognition for the Fat Penguin.

After careful consideration, I believe the current timing for issuing tokens is appropriate: the bull market continues, and a large number of new users are entering the market. Fat Penguin performs excellently in both the Web2 and Web3 worlds and can completely serve as a bridge connecting the two fields, helping newcomers understand Web3 while also promoting its own business development.

$PENGU token is not only the spiritual symbol and lubricant of the Penguin Empire, but will also become the carrier for the large-scale application of Web3. In any case, I choose to unconditionally trust the project and the team.

Here are 10 important pieces of information about the issuance of the Fat Penguin token:

1. Token distribution mechanism: No snapshot is needed; you can receive rewards by holding the NFT after the token goes live, for a period of 88 days. This method effectively prevents insider trading.

2. Digital Preferences: The project has a special affection for the number 8. The total number of NFTs is 8888, and the total number of tokens is 88,888,888,888, with a claiming period of 88 days. The number 8 sounds like "fa" in Chinese, which signifies good fortune.

3. Token Positioning: Currently, the official description of the $PENGU utility is limited, only mentioning the promotion of Web3 adoption and community development. Personally, I speculate that this token is more like a cultural symbol with Meme attributes, representing the innovative spirit and positive values of the project over the past three years.

4. Reason for Chain Selection: $PENGU chose to issue on Solana, possibly to lower the participation threshold. It will expand to the Ethereum mainnet and Abstract Chain in the future.

5. Valuation Opinion: It is not appropriate to compare the valuation of $PENGU with other projects. The goal of the Fat Penguin is to become the best penguin project, rather than to imitate others.

6. Community Allocation Ratio: The Penguin Community received a 25.9% token allocation. After the announcement was made, the community atmosphere remained harmonious, which is very rare on the eve of a token issuance.

7. External Community Distribution: 24.12% of the tokens are allocated to external communities, covering 5 million addresses, showcasing the project's grand vision. This may include communities that have previously interacted with or invested in the Fat Penguin.

8. FTT Holdings Compensation: 0.35% of the tokens are allocated to FTT Holdings holders, aimed at providing some comfort to the victims of the FTX incident, reflecting the project's humanitarian care.

9. Long-term Development Plan: $PENGU is just the first step of the grand blueprint for the Fat Penguin. The project continues to make strides in both the Web2 and Web3 domains, and will introduce more innovations in the future, including the consumer-grade L2 Abstract (which will issue its own token).

10. Exchange Launch Prospects: As a well-known IP, the Fat Penguin token is expected to be listed on major trading platforms. Investors can patiently wait for related news.