Introducing Pangolin V2
Pangolin V1 was launched in February 2021 as a proven concept for automated market makers (AMMs), native to the Avalanche network. Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality. It is low cost and is environmentally friendly.
Since launching, Pangolin has established itself as a safe, secure, and low-cost decentralized exchange and the premier DEX on Avalanche. Less than one year since its launch, the Pangolin V1 DEX has facilitated over $8.7 billion dollars in trading volume, and serves as a central piece of DeFi infrastructure in the ecosystem.
Today, we are excited to announce an overview of Pangolin V2. We are targeting the launch of our new smart contracts on November 21st with deployment on Avalanche Mainnet.
- Improved Tokenomics, reducing the $PNG emissions schedule, previously 28 years, to a new 4-year emissions schedule
- Dramatically reduced $PNG supply, the biggest token burn ever in DeFi’s history. We’ll be burning 57% of all remaining $PNG tokens, making them substantially more scarce.
- Liquidity Provider Optimization, enabled by making our smart contracts even smarter, allowing Pangolin to now offer even higher incentives to liquidity providers
- Additional LP Rewards, Pangolin will distribute the $4 Million USD of PNG tokens as rewards to liquidity providers in priority farms during the next 30 days to celebrate Pangolin V2
- A new UX, releasing phase 1 of a redesigned UI, including a migration tool to help users migrate from old pools to the new Pangolin pools. Phase 2 of our redesigned UI will cover the entire Dapp UI.
We will be releasing further updates, additional information, and initial documentation over the coming days and welcome all feedback and involvement from the community.