Unknowingly, I have held the Fat Penguin for over 1000 days. To be honest, having diamond hands is tough but also very rewarding, as the penguin has given so much.

Yesterday, I saw the news that the Fat Penguin is going to issue a token. At first, I was skeptical because the penguin has always downplayed the idea of issuing tokens and has never relied on a Ponzi scheme to maintain its floor price.

The team and community have been doing the same for the past three years, making strides in both the Web2 and Web3 worlds, continuously elevating brand building to new heights and making the penguin known worldwide.

As for why the token is being issued at this time, after some contemplation, it seems I have come to understand: the bull market continues, with a large influx of outsiders entering the space, and the penguin has broad recognition in the Web2 world while being a leader in the Web3 world. It can serve as a bridge between the two worlds, helping more newcomers understand and participate in Web3, while also facilitating the advancement of various penguin-related businesses.

In other words, $PENGU is both a spiritual symbol and lubricant of the Penguin Empire, and it will also become a vehicle for the large-scale adoption of Web3. Regardless, I choose to unconditionally believe in the penguin and the Luca team.

In the past couple of days, there has been a lot of discussion about the Fat Penguin airdrop, along with many questions, which I will help answer one by one.

1. Is there a snapshot?

There is no snapshot; when $PENGU goes live, you can claim it directly with your NFT for a duration of 88 days.

This means that regardless of when you purchase before the token goes live, you are eligible for the airdrop. Compared to a snapshot method, this clearly better prevents insider trading.

2. The team's fondness for the number 8

The number of big penguins is 8888, the total amount of $PENGU is 88,888,888,888, and the airdrop lasts for 88 days, showing the team's great affection for the number 8.

In China, the number 8 means "prosper," which has a very positive connotation. I hope all penguin holders can become wealthy, as we deserve it.

3. What is the token's positioning?

The team has not elaborated much on the use of $PENGU yet, only mentioning that it aims to promote large-scale adoption of Web3 and bring more people into the penguin community.

In my estimation, $PENGU is more like a cultural symbol of the penguin, leaning towards a meme attribute, representing the Fat Penguin's efforts to innovate and thrive over the past three years, embodying confidence, optimism, cuteness, unity, and all things beautiful.

4. Why is it deployed on Sol?

I speculate that $PENGU is deployed on Sol to allow more interested individuals to join with a lower barrier to entry.

In the future, $PENGU will expand to multiple chains and will also be adopted on the Ethereum mainnet and Abstract Chain.

5. About valuation

External valuation analyses of $PENGU are not very relevant because the Fat Penguin's goal has never been to become the next xxx, but rather to be the best penguin.

Please do not compare it with other projects for valuation.

6. Penguin community allocation of 25.9%

After the official announcement of the token, the penguin community remains as harmonious as ever, without the usual pre-TGE criticisms seen in other communities, which is quite rare.

As an old member who joined the community in 2021, I believe the team will not let down any believers.

7. External community allocation of 24.12%

This is a significant proportion, covering 5 million addresses, demonstrating the team's grand vision.

Based on my speculation, this portion of tokens will likely cover the communities that previously received airdrops from the Fat Penguin, as well as communities that have investment relationships with the Fat Penguin, such as Animoca, ZK, L0, OMNI, DYM, etc.

Additionally, there may be some new airdrop standards to look forward to.

8. FTT holder allocation of 0.35%

The FTT here refers to SBF's $FTT, and many people, including myself, are surprised by this allocation.

Captain Luca held a meeting with the community last night to explain: the intention is to provide some warmth to the victims of the FTX incident, allowing them to remain optimistic about the world. Love it.

9. $PENGU is just the first step

It is no exaggeration to say that the Fat Penguin is one of the few blue chips that does not rely on a Ponzi scheme to maintain its floor price. The value of the penguin comes from the team's continuous efforts in both the Web2 and Web3 worlds, with top-notch branding and community.

In the Fat Penguin ecosystem, $PENGU is just the first step; there will be ongoing outreach activities and a consumer-grade L2 Abstract (which will issue its own token).

All of this is enough to support the NFT floor while avoiding excessive selling of the token at TGE.

10. Listing on T1 exchanges is not a dream

Greatness needs no words. For such a large IP as the Fat Penguin, no centralized exchange will miss out; those that should list will list, so just be patient.

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