PANews reported on December 6 that the well-known NFT project Pudgy Penguins announced that it will launch its official token $PENGU in 2024. The token will be issued on the Solana chain with a total supply of 88,888,888,888.

In addition, it announced the distribution plan for the upcoming $PENGU tokens. According to the published data, the Pudgy community will receive the largest share, accounting for 25.9%; other communities will receive 24.12%; the project team and future teams will receive 17.8% of the tokens, with a 1-year lock-up period and a 3-year vesting period; the liquidity pool will account for 12.35%; the company reserve will account for 11.48%, also with a 1-year lock-up period and a 3-year vesting period; in addition, the tokens will also be allocated 4% for ecological expansion, 4% for Public Good, and 0.35% for FTT token holders.