Pangolin Newsletter #3 - June 22

Jun 22, 2021

A fortnightly series detailing what's been going on in the world of Pangolin.

Pangolin’s 2021 Roadmap

We have published an exciting 2021 Roadmap, and will be focusing on the following areas: CEX Listings, Staking, UX Redesign, Rewards Pairs, Governance, Partnerships, Bridges, Onboarding, and Community.

After establishing a solid foundation with the current roadmap, we will look forward to even more exciting innovation in a V2 roadmap that will be revealed at a later date.

Check out our roadmap on Medium

CEX Listing on Gate.io!

We’re delighted to announce an historic milestone for the Pangolin Exchange - our first CEX listing of $PNG on the hugely popular Gate.io!

Pangolin acquired almost 21 million votes on Gate.io on the way to gaining our listing; this is great news for the community. Trading was enabled on June 17 at 4am UTC. Withdrawals were enabled a few days after. There are multiple giveaways and marketing competitions to come hosted by Gate.io.

Rewards Pool and Farm Updates

PNG rewards updates from governance proposal #5 went live on June 15th. The following changes were implemented:

Increased the AVAX-PNG pool to a 10x multiplier
Increased PNG-VSO and PNG-SNOB to a 5x multiplier
Add new pools for PNG-SPORE at 5x, and AVAX-SPORE at 1x

APYs for the AVAX-PNG pool had a whopping 350% APY on the first day, and have settled around 300% APY at the time of this writing.

Auto-compounding projects Yield Yak, Snowball, Penguin, and Beefy launched Twitter marketing campaigns to capitalize on the increase in APY for the AVAX-PNG pair.

Community Localization Event

The Pangolin community is rapidly expanding and our aim is to offer a truly international experience that reflects our user base.

We are hosting an event from June 16th to June 26, 00:00 UTC to source translations from the Pangolin community. We’re looking for translations in the following languages:

Mandarin
French
German
Japanese
Spanish
Turkish

We’re offering 100 PNG for the best submissions and 50 PNG for the runners-up in each language. We will also add more languages in the future.

To participate, visit the instructions posted in Substack.

Pangolin Weekly AMAs

On June 9 the Pangolin team hosted an AMA where we fielded questions about the team itself from the community. This was followed on June 16 by a more general AMA.

You can access the full videos and transcripts for the June 9 and June 16 AMAs by following the links provided or viewing our Telegram AMA channel.

Upcoming AMAs

An AMA coming up this week is with our newest partner Beefy Finance, a successful multi-chain yield optimizing project. Scheduled for Wednesday June 23rd at 7am UTC / 9am Central European Time

Telegram Polls: Rewards Pools, Staking

We recently took two telegram polls from the community. The first is to determine which tokens our community would like to see be added to PNG rewarded pools. The second is to see what parameters around single-sided PNG staking they prefer.

Token Rewards Pools

$BIFI token from Beefy.finance was surprisingly the most popular token in the poll. They are making a hard push to expand into Avalanche and rallied their community around this poll. Other popular tokens include $XAVA from the launchpad project Avalaunch, and the upcoming $SHERPA token from the privacy solution Sherpa Cash.

Staking

Locking was the most popular feature in this poll, with Early Withdraw Fees and Buybacks coming in second and third place.

Pangolin Assists in Solving Canary Vulnerability

Earlier this month, a concerned community member drew our attention to a potential vulnerability in Canary Exchange. Our developers reviewed the contracts and, after coming to the same conclusion, reached out to Canary offering advice and potential solutions. Canary took prompt action and found a solution with the help of Pangolin’s developer team, to make sure that investor funds were protected.

Despite Canary being a competing exchange, we feel that this kind of collaboration is beneficial to the wider community to ensure that investors on all exchanges feel secure in the knowledge that their funds are being conscientiously protected.

Partnerships, Appointments, Team Updates

Wyre

Pangolin has formed a partnership with Wyre - a powerful JSON REST API supporting a range of financial, cryptocurrency, and identity services.

Wyre enables compliant money movement, exchange brokerage, KYC/AML information validation, and transfers to/from traditional banking systems. You can find out more about their services here.

Beefy Finance

Pangolin is excited to work with the Beefy Finance team to bring robust yield optimizing solutions, the $BIFI token, and BIFI Maxi to the Avalanche network. Beefy has established itself as key player in the DeFi space — with a vibrant community and successful implementations on multiple chains.

The user community, liquidity, and development experience that Beefy can help bring to the Avalanche Network is invaluable. Pangolin is very excited about the opportunity to work with the Beefy project.

Daimon Legal

We are also happy to announce the appointment of Daimon Legal as our European Legal council.

Daimon Legal is a multidisciplinary legal practice with over two decades of experience in global technology transactions and has been deeply engaged with cryptocurrency and DeFi communities across a range of platforms and technologies since 2017. The firm prides itself on being steeped in community engagement and thought leadership, operating at the cutting edge of technology and law, and welcoming developers, designers, and entrepreneurs across the board.

Public Relations Manager

Özge Erdemir, our lead moderator, has taken on a new title and new responsibilities as our Public Relations manager.

You will often see Özge in our official telegram engaging users and answering questions. New responsibilities include: promote a positive public image for Pangolin, planning public relations programs, customer support and technical support.

About Pangolin Exchange

Pangolin Exchange is a community-driven decentralized exchange (DEX) with fast-settlement, low fees, and a democratic process. Built on the Avalanche Network. Pangolin brings you the best trading opportunities to find and maximize your yield.

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