Pangolin is a distributed exchange (DEX) running on Avalanche, using the same automated market making (AMM) model as Uniswap, with a local governance token called PNG, fully distributed by the community, capable of trading all tokens issued on Ethereum and Avalanche. In a crowded market with multiple competitors, Pangolin offers three vital benefits: fast and cheap trade, community-driven development, and fair and open token distribution.

For one thing, Pangolin can close deals quickly and cheaply. Since Pangolin is built at Avalanche, it allows users to exchange assets while enjoying subsecond transaction finality and transaction fees as low as a few cents. In general, Pangolin trades as fast as it trades centrally. Second, in addition to being a significant performance upgrade over the current state of the technology, Pangolin is community driven. Native governance token PNG enables the community to drive product development across the board. Third, but not least, Pangolin is characterized by a 100% community-centric token distribution model, meaning that all tokens are distributed directly to the community without allocating any funds to the team, advisers, investors, or insiders.

NG has a supply cap of 538 million tokens. The first 95% of the tokens, or 512 million tokens, are earmarked for community coffers and will initially be used to fund liquidity mining. The remaining 5 percent, or 26 million tokens, are dedicated to community airdrops.