# Pangolin (PNG)

**Rank:** #1048
**Type:** Token
**Source:** [View on Coinpaprika](https://coinpaprika.com/ja/coin/png-pangolin/)

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## About

### What is Pangolin?

Pangolin (PNG) is a decentralized exchange (DEX) launched in 2021 on the Avalanche blockchain. It was designed to offer fast and cost-effective trading of cryptocurrencies by leveraging Avalanche's high throughput and low latency. The platform facilitates the swapping of tokens and provides liquidity pools where users can earn rewards for providing liquidity.

Pangolin operates using the Automated Market Maker (AMM) model, similar to other popular DEXs, allowing users to trade without needing a centralized order book. Its native token, PNG, plays a crucial role in the ecosystem, used for governance, enabling holders to vote on proposals affecting the platform's future. Additionally, PNG is used to incentivize liquidity providers and participants in the network.

Pangolin stands out for its integration with Avalanche, which provides it with a competitive edge in terms of transaction speed and cost compared to Ethereum-based DEXs. This positions Pangolin as a significant player in the decentralized finance (DeFi) space, particularly for users seeking efficient and cost-effective trading solutions.

### When and how did Pangolin start?

Pangolin originated in February 2021 when it was launched by the team at Ava Labs, the organization behind the Avalanche blockchain. The project was introduced as a decentralized exchange (DEX) on the Avalanche network, focusing on providing fast and low-cost transactions. Pangolin's mainnet launch took place in the same month, marking its initial public availability and allowing users to trade various cryptocurrencies on the platform.

The early development of Pangolin centered around creating an efficient and user-friendly DEX that leveraged Avalanche's high throughput and low latency. The initial distribution of the Pangolin token (PNG) occurred through a fair launch, which aimed to ensure a decentralized and community-driven token allocation without any pre-sale or private investment rounds. These foundational steps set the stage for Pangolin's growth within the decentralized finance (DeFi) ecosystem on Avalanche.

### What’s coming up for Pangolin?

According to official updates, Pangolin is gearing up for several key developments. A significant upcoming milestone is the integration with additional blockchain networks, planned for the next quarter, which aims to enhance cross-chain compatibility and broaden user access. Another focus is on improving user experience through a series of interface upgrades scheduled for the first half of the year. These upgrades are designed to streamline navigation and trading processes on the platform. Additionally, a governance vote is expected to take place soon, allowing the community to decide on proposed protocol changes that could impact fee structures and reward systems. These initiatives collectively aim to bolster Pangolin's ecosystem, improve user engagement, and maintain competitive positioning in the decentralized finance space. Progress on these developments can be tracked through their official channels.

### What makes Pangolin stand out?

Pangolin stands out through its integration with the Avalanche blockchain, enabling high-speed transactions with low fees. Its architecture leverages the Avalanche consensus mechanism, which enhances throughput and reduces latency, offering near-instant finality. Pangolin’s design includes a user-friendly interface and robust liquidity pools that facilitate seamless decentralized trading experiences. The platform supports interoperability with other blockchains through cross-chain bridges, broadening its utility and accessibility. The ecosystem is further distinguished by its community-driven governance model, allowing token holders to propose and vote on key changes, ensuring that the platform evolves in alignment with user needs. Notable partnerships and integrations with other DeFi platforms and services enhance Pangolin’s role in the decentralized finance landscape, providing users with a comprehensive and versatile trading solution.

### What can you do with Pangolin?

The png-pangolin token is primarily used for transactions and fees within the Pangolin decentralized exchange (DEX), enabling users to trade cryptocurrencies efficiently. Holders can participate in governance by voting on proposals that influence the development and direction of the platform. Additionally, users may stake their tokens to help secure the network, potentially earning rewards. Developers can leverage Pangolin to build decentralized applications (dApps) or integrate with existing platforms, utilizing its robust ecosystem. The Pangolin platform is supported by various wallets and bridges, allowing seamless interaction with the token for trading and other DeFi activities.

### Is Pangolin still active or relevant?

Pangolin remains active, as evidenced by recent updates and ongoing development efforts. In September 2023, the project announced a new version release that enhanced its trading interface and improved transaction speeds. The development team continues to focus on expanding cross-chain capabilities, which is crucial for maintaining its relevance in the decentralized finance sector. Pangolin is actively traded on multiple exchanges, indicating sustained market presence. Additionally, the project engages its community through regular governance proposals, the latest of which was voted on in October 2023. These activities highlight Pangolin's commitment to innovation and community involvement, supporting its ongoing relevance within the DeFi ecosystem.

### Who is Pangolin designed for?

Pangolin is designed for both individual users and developers. For individual users, it facilitates the trading of cryptocurrencies with low fees and fast transaction times, leveraging the Avalanche blockchain. This appeals to traders looking for efficient and cost-effective platforms. Developers are another primary audience, as Pangolin provides tools and resources such as APIs and SDKs to build and integrate decentralized applications. Secondary participants like liquidity providers play a crucial role by contributing to the liquidity pools, earning rewards, and enhancing the platform's trading capabilities. These user groups collectively support Pangolin's ecosystem by participating in governance and ensuring the platform's continuous improvement and adaptability.

### How is Pangolin secured?

Pangolin is secured through the Avalanche consensus mechanism, which involves validators confirming transactions and maintaining network integrity. This consensus model is designed to achieve high throughput and quick finality, making it efficient for decentralized exchanges like Pangolin. The protocol employs cryptographic techniques such as the Ed25519 digital signature scheme to ensure authentication and data integrity. Validators are incentivized through staking rewards, which align their interests with the network's security and stability, while slashing mechanisms are in place to penalize malicious or faulty behavior. Additionally, Pangolin benefits from regular audits and a decentralized governance process, which contribute to its overall security and resilience.

### Has Pangolin faced any controversy or risks?

Pangolin has faced several risks and controversies, primarily related to technical and community factors. In March 2021, Pangolin experienced a significant issue when it was discovered that there was a vulnerability in the smart contracts, which could have led to potential exploits. The team quickly addressed this by implementing a patch and conducting a thorough audit to ensure no funds were compromised. Additionally, Pangolin has faced community disputes over governance decisions, particularly concerning the allocation of liquidity incentives and development priorities. These disputes were managed through community discussions and governance votes, allowing stakeholders to voice their opinions and reach consensus.

Ongoing risks for Pangolin include market volatility and regulatory challenges, which are common in the DeFi space. The project mitigates these risks through regular audits, transparent communication with the community, and a proactive approach to compliance. Moreover, Pangolin continues to evolve its security practices to protect against potential future vulnerabilities.

