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?
Since their fair launch in Feb. ’21, Pangolin has grown to a TVL of >$442m while their governance token, PNG, has climbed to a market cap of >$108m at time of writing.
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
Pangolin and Olympus Pro
For this Olympus Pro Spotlight, we had the opportunity to chat with the Pangolin team about why Olympus Pro was the best solution for their liquidity needs. Here’s what they had to say:
“Pangolin is ecstatic to be one of the first Avalanche projects to join the first Olympus Pro cohort…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. 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.”
We’re excited to have a partner like Pangolin on board and encourage OHMies to get involved in their community if it interests you. Here’s some resources to get you started:
About Olympus Pro
Olympus Pro is a service for protocols looking to utilize bonds in their emissions programs with low overhead and maximum impact. We provide our partners with infrastructure, expertise, and exposure. Projects only need to bring a token and an objective. To learn more, read our in depth guide: A Beginner’s Guide to Navigating Olympus Pro.