$PNG
DeFi • Yield • DEX Governance
native asset
DEX Governance and Incentive Token — $PNG
$PNG is the native token of Pangolin, a multichain decentralized exchange (DEX) originally launched on Avalanche and now deployed on multiple networks including Flare, Hedera, and Evmos. $PNG is used for governance voting, liquidity incentives, and protocol revenue-sharing models. As Pangolin expands across Layer 1 ecosystems, $PNG aligns community participation with DEX growth through dynamic emissions, farms, and token utility tied to trading volume.
Use Case: $PNG is earned through farming, used to vote on protocol upgrades, and in some deployments, receives a share of swap fees or emissions through staking mechanisms.
Key Concepts:
- DEX — Decentralized exchange platform for token swaps
- Multichain Deployment — Available on Avalanche, Flare, Hedera, and Evmos
- Liquidity Incentives — Yield farms and rewards tied to trading volume
- Governance — Token-based voting for protocol changes and DAO decisions
- Revenue Sharing — Staking and emission models based on network fees
- Decentralized Exchange — Permissionless trading platform without centralized intermediaries
- AMM — Automated market maker enabling trustless token swaps
- Governance Token — Tokens granting voting rights in protocol decisions
- Governance Participation — Active involvement in on-chain proposal and voting systems
- DAO — Decentralized autonomous organization governing Pangolin’s direction
- Liquidity Pool — Paired token reserves enabling DEX trading
- LP Tokens — Receipt tokens representing a share of pooled liquidity
- Yield Farming — Earning rewards by providing liquidity to protocol pools
- Swap Fee — Transaction cost paid on each DEX trade
- Token Utility — Functional use cases beyond speculation
- Emission Sustainability — Long-term viability of token reward distribution
- Pool Weighting — How rewards are allocated across different liquidity pools
- Staking — Locking tokens to earn yield or governance weight
- $FLR — Native asset of Flare Network where Pangolin is deployed
- $HBAR — Native asset of Hedera where Pangolin operates as $PBAR
- $AVAX — Native asset of Avalanche where $PNG originated
Summary: $PNG is the utility and governance token of the Pangolin DEX, facilitating multichain growth through incentive programs and community-led governance. Its evolving tokenomics reflect the shift toward sustainable DeFi rewards and cross-chain participation.
$PNG Token Variants Across Chains
The Pangolin ecosystem utilizes different token tickers across multiple Layer 1 networks to support governance, rewards, and protocol-specific features. While $PNG originated on Avalanche, its expansion to other ecosystems led to distinct cross-chain token variants, each native to their respective network:
This multichain token model allows Pangolin to localize governance and incentives to each Layer 1’s ecosystem while preserving a unified brand identity. Cross-chain swaps, bridges, and community votes may align these tokens in the future under broader DAO decisions.
Pangolin Multichain DEX Reference
four deployments — each with its own token, liquidity depth, and governance weight
Key Insight: Pangolin’s multichain strategy means $PNG is not one token — it is a family of tokens, each living on a different chain with its own liquidity and governance. This creates opportunity but also fragmentation. A strong farm on Flare does not mean the same opportunity exists on Avalanche. Evaluate each deployment independently — the brand is shared, but the economics are local.
$PNG Yield Strategy Framework
four steps from token acquisition to sustainable DEX yield
– Evaluate liquidity depth on each Pangolin deployment
– Compare APR across Avalanche, Flare, Songbird, and Hedera
– Consider native asset exposure ($AVAX, $FLR, $SGB, $HBAR)
– Match chain selection to existing portfolio holdings
The best farm is on the chain where you already have capital
– Pair tokens in pools with consistent volume, not just high APR
– Understand impermanent loss risk on volatile pairs
– Monitor pool weighting changes from governance votes
– Use Bifrost for Flare-based Pangolin access
Volume sustains yield — APR without volume is a countdown to zero
– Vote on emission allocation to protect your farming position
– Monitor DAO proposals that affect pool rewards or token burns
– Stake $PNG/$PFL/$PSB/$PBAR for governance weight
– Align voting with long-term sustainability, not short-term APR
If you farm but do not vote, someone else decides where the yield goes
– Route farming rewards into Kinesis $KAG/$KAU for metal preservation
– Layer Cyclo, SparkDEX, and Enosys above the metal base
– Secure crypto in Ledger or Tangem
– Do not reinvest 100% of yield — extract and harden regularly
DEX rewards are temporary — metal is permanent
$PNG Position Checklist
verify the fundamentals before committing capital to a multichain DEX token
☐ Emission schedule reviewed — halving timeline and remaining supply
☐ Token burn mechanisms confirmed and active
☐ Inflation rate compared to trading volume growth
☐ Revenue-sharing model verified for stakers or LPs
☐ Governance power proportional to token holdings confirmed
If emissions outpace volume, the token dilutes faster than it earns
☐ Pool depth checked on target chain deployment
☐ Trading volume confirmed as consistent, not spike-driven
☐ Impermanent loss exposure calculated for intended pair
☐ LP token withdrawal tested — no unexpected lock or fee
☐ Competing DEX volume compared on the same chain
Liquidity is the lifeblood of a DEX token — without it, governance means nothing
☐ Token variant identified for the correct chain ($PNG/$PFL/$PSB/$PBAR)
☐ Bridge risk assessed if moving between deployments
☐ Governance scope confirmed — chain-specific or ecosystem-wide
☐ APR differences across chains compared before committing
☐ Not overexposed to a single chain’s Pangolin deployment
Same brand, different chains, different risks — evaluate each one independently
☐ Farming rewards harvested and routed to Kinesis $KAG/$KAU
☐ Crypto secured in Ledger or Tangem
☐ LP positions reviewed before cycle peaks — exit before volume drops
☐ Governance tokens not held purely for APR — voting value assessed
☐ Withdrawal plan in place before liquidity thins
The best DEX exit is the one you plan before the volume disappears
Capital Rotation Map
DEX tokens rise with volume and fall with attention — $PNG earns when people are trading, not when they are holding