Olympus Pro Spotlight: Pangolin

Olympus Pro Spotlight is a series where we highlight our Olympus Pro cohort partners to give OHMies insights into what our partners are building, how their token works, and why they chose Olympus Pro.

What is Pangolin?

According to their docs, Pangolin is a decentralized exchange built on Avalanche that uses the same automated market-making (AMM) model as Uniswap and features a native governance token called PNG that is fully community distributed and is capable of trading all tokens issued on Ethereum and Avalanche.To date, Pangolin has facilitated over $10b in trading volume

Since Pangolin is built on Avalanche it is fully compatible with Ethereum assets and tooling, but with higher throughput and lower fees. Pangolin also puts as priority on the distribution of PNG through liquidity mining incentives that are available on a wide range of pools. In order to earn these rewards, users must supply liquidity to an eligible pool and stake their associated LP tokens in one of the available yield farms found here.

What is PNG?

Pangolin and Olympus Pro

“Pangolin is ecstatic to be one of the first Avalanche projects to join the first Olympus Pro cohort. Currently Pangolin is emitting ~175k PNG tokens per day ($280,000 USD) on farming pools for their DEX. Pangolin’s goal is to increase protocol owned liquidity (POL) instead of being solely dependent on renting liquidity through farm emissions.

To work toward the goal of protocol owned liquidity, Pangolin will allocate $500k USD per month for purchasing AVAX-PNG bonds through the Olympus Pro platform. This bonding program will allow Pangolin to own more AVAX-PNG liquidity over time, and become less dependent on farming emissions. Bonding will also allow users to earn PNG at attractive discounted rates, with virtually zero exposure to IL (impermanent loss).

Pangolin believes that DeFi will trend toward DeFi 2.0 concepts like bonds, and is ready to embrace these new innovative ideas. Pangolin made the choice to work with Olympus DAO as its bonding partner for multiple reasons: 1) Olympus is the pioneer of bonding and protocol owned liquidity in DeFi 2) The Olympus team and platform is well established and trusted in the DeFi space and 3) Olympus has a fantastic community that aligns well with Pangolin’s ethos as a community driven DEX.”

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