Beginning this Monday, July 19th, Penguins will be able to stake their xPEFI tokens to receive allocation points (AP) for the upcoming $SHERPA distribution. When staking your xPEFI in the Penguin Launchpad, your tokens will be locked for 10 days and you will continue to benefit from the growing value of xPEFI even when staked.
Staking Deadline & Distribution Phase
The staking period will end on July 27th 23:30 UTC and the distribution period will begin shortly after on July 28th, 19:00 UTC. You must have staked your xPEFI before the staking period ends to participate in the SHERPA distribution.
How to participate in the Penguin Launchpad?
To take part in the Penguin Finance $SHERPA distribution, you must first acquire xPEFI by clicking here. By staking a minimum of 300 xPEFI, you’ll earn allocation points that determine your $SHERPA purchasing power.
Once you have xPEFI, click here to stake your tokens in the Launchpad. When staked, your tier and total allocation points (AP) will be displayed.
If you’re new to Penguin Finance and want to get started, click here.
How can I acquire the SHERPA tokens for my entitled share?
You’ll be able to exchange PEFI for SHERPA tokens at the exchange rate for your tier. The price of PEFI will be determined at the start of the distribution period so we recommend that you have enough PEFI to cover your allocation amount since the price may fluctuate because of interest in the $SHERPA Launchpad distribution.
Additional PEFI will be required to purchase $SHERPA tokens given that your xPEFI will be staked & locked during the distribution period.
About Penguin Finance
Penguin Finance is a platform powered by Avalanche building an innovative set of decentralized applications, financial products, and documentation for both technologically savvy individuals and those with absolutely no knowledge of cryptocurrency.
We’re bridging the gap between DeFi and mass adoption by offering ultra-low fees, an intuitive UX design, and the best documentation/tutorials. PeFi is made for penguins, by penguins.