Penguin Finance Price (PEFI)

What is Penguin Finance (PEFI)?

Penguin Finance is a DeFi protocol that launched on April 1st, 2021. It was created as a solution to both the high-technicality requirements and exclusion due to high gas fees.

Building an innovative set of decentralized applications, financial products, and documentation, the team aims to provide a smooth DeFi experience to its users. Currently, Penguin Finance offers yield-farming, staking, and the Emperor Penguin game to provide plenty of earning opportunities and utility to its native token, PEFI.

PEFI is the native utility token of the Penguin Finance ecosystem that is used for:

• Liquidity mining in the Igloos (yield-farming)
• Staking in the Penguin Nests (staking)
• Fee collection from the Penguin auto-compounder and Penguin Emperor dApps.
• Future governance in the Penguin DAO.

Native to the Avalanche Network, this DeFi protocol utilizes Avalanche's sub-second confirmation times, low fees and decentralization to reduce the barrier of entry for new and inexperienced users.

What Makes Penguin Finance Unique?

Penguin Finance is one of the biggest DeFi protocols on the Avalanche Network. Due to its low gas fees, fast transaction speeds, and high levels of decentralization, it is increasingly attractive for DeFi users that are tired of paying thousands of dollars in fees for interacting with a dApp.

The project has taken pride in ensuring that contracts are secure, audited, and rug-pull resistant. Code forked from existing popular protocols, and is also audited. The first audit for Penguin Finance was conducted on June 16, 2021 by CertiK. The user-interface of PeFi was forked from the PancakeSwap protocol, and the farming & staking dApps are forked from SushiSwap and Goose Finance. Penguin Finance is also building unique dApps such as the Emperor Penguin, which was made from scratch by the team.