Introducing Pingu Exchange ($PINGU) Early Access.docx

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ICO Project

Introducing Pingu Exchange ($PINGU) Early Access

Publish: (UTC) 02:52 PM - 25 Mar 2024

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Author: Moby Team

We are thrilled to announce the launch of Pingu Exchange ($PINGU) Early Access round, exclusively for $MOBY stakers.

Pingu Exchange Early Access sale is an exclusive opportunity for the Moby community to be at the forefront of the $PINGU Elite ICO. $MOBY stakers from the Snapshot #5, took place on March 22, are eligible for favorable allocations and terms.

Pingu Exchange is an Arbitrum-native SocialFi Perp DEX committed to full decentralization. It is an on-demand oracle product powered by the Pyth Network. Its architecture allows it to offer zero spread and zero price impact trading across crypto assets, forex, commodities, and indexes in a fully decentralized manner and at low fees.

Pingu Exchange has achieved $1.1B+ Total trading volume since January 2024. Through this, approximately $1 million in fees has been generated and distributed back to poolers and stakers, marking a significant contribution to the community.

Learn more about Pingu Exchange: here

$PINGU Early Access is launching on March 26, 2024, at 2 PM UTC.

Exclusively available for $MOBY stakers only.

EARLY ACCESS TO $PINGU TOKENS

Start date: March 26, 2 PM UTC

End date: March 28, 2 PM UTC

EARLY ACCESS MECHANISM

Target Raise of 1,050,000 $USDC at fixed valuation of $15,000,000 FDV , with vesting set of 30% on TGE and 3 months linear vesting.
Eligibility: Staking $MOBY during our snapshot #5 (March 15 - March 22, 2024)

Snapshot data:

Time: March 15 - March 22, 2024
Total Moby Chips: 67,191,718.82 Chips
Total $MOBY stakers: 1313 stakers

Note: Introduced in Moby Staking V2.0, Moby Chips is the new official measure, used to calculate the allocation of each individual stakers. This innovation allows us to strengthen the benefits of long-term stakers. Learn more about Moby Staking V2.0: here

Mechanism: Overflow

Eligible $MOBY stakers contribute $USDC for $PINGU allocation in the Early Access sale:
- Your max contribution amount (in USDC) = 0.031 * Your total Moby Chips at the snapshot period.
- Your max contribution amount ≠ your final allocation if the sale reaches the ‘Overflow' stage (meaning the total contribution amount surpasses the ‘Target Raise' ). The more you contribute, the more allocations you receive.
- The final allocation will be based on the amount of funds each staker put in as a percentage of all funds put in by other stakers at the end of the Early Access sale.
- Users will reclaim any leftover funds after the contribution period ends.

Note: If you commit a very small amount of $USDC compared to the total amount committed by others, your contribution may be such a small part of the total that you may not qualify for even a small portion of the tokens sold. In such a case, you can still reclaim all committed funds.

Timeline:

Contribution period: 2 PM UTC, March 26 - March 28, 2024
Rebalancing allocation and refund: 2 PM UTC, March 29, 2024

$PINGU TOKEN

Token name: PINGU

Network: Arbitrum

Symbol: PINGU

Total Supply: 100,000,000

Percentage	Category	Vesting
7%	Moby Early Access	30% unlock at TGE, 3 months linear vesting
2%	Moby Public ICO	50% unlock at TGE, 3 months linear vesting
5%	Moby Alpha Chest	20% unlock at TGE, 6 months linear vesting
6%	Private KOLs sale	20% unlock at TGE, 6 months linear vesting
17.5%	Early Community Incentives	10% unlock at TGE, 3 months linear vesting.
2.5%	Strategic Communities Airdrop	100% unlock at TGE.
15%	DEX & CEX LP & Community DEX LP incentives	DEX PINGU LPs will be able to deposit their LP token in a pool, and earn 7.5% of the supply over 12 months
20%	Treasury	Gradually staked following early community unlocks, will always remain staked.
15%	Partnerships & Marketing	10% unlock at TGE, the rest locked up until further notice.
10%	Team	6 months cliff, 8 months linear vesting