Pangolin
PNG
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
PNG (Pangolin) is a community-driven decentralized exchange (DEX) on the Avalanche C-Chain. The project features clean tokenomics with a hard-capped max supply of 230M tokens fully in circulation, zero team/insider allocations, and zero ongoing inflation. However, the token suffers from weak demand drivers, lack of fee accrual, and severe competitive erosion within an oversaturated DEX landscape, leading to a >99% drawdown from all-time highs and compressed market capitalization (~$4.7M–$5.7M). Public development velocity is sparse beyond a June 2026 V3 upgrade announcement, and core team members remain largely anonymous.
DATA GAP NOTE: Security and Audit History scored -1.0 due to source cross-contamination (search results returned data for the unrelated 'fosrl/pangolin' software and PNG image formats rather than the Avalanche DEX). Its 15% weight was redistributed proportionally across the remaining five sections. No qualifying red-flag events were affirmatively established against the PNG token.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Pangolin (PNG)
Pangolin (PNG) is the native governance and utility token of Pangolin, a community-driven decentralized exchange (DEX) launched in 2021 on the Avalanche C-Chain. The protocol facilitates automated market maker (AMM) token swaps, staking, and liquidity mining on the Avalanche network. Governance is structured around community voting, allowing token holders to participate in protocol decisions such as treasury allocations and strategic initiatives.
The tokenomics of PNG are based on a fair-launch distribution model with zero allocations reserved for founders, advisors, or private investors. The total supply is hard-capped at 230 million tokens, which are fully in circulation with zero ongoing inflation. Initial distribution was allocated between a 5% airdrop and 95% directed toward liquidity mining rewards.
Pangolin has experienced significant market contraction and competitive pressure within an oversaturated DEX sector, contending with native and multichain platforms including Uniswap, SushiSwap, and Trader Joe. The token has suffered a price decline of over 99% from its all-time high of $18.85 to approximately $0.024, leaving it with a compressed market capitalization between $4.7 million and $5.7 million and thin trading volumes. Additionally, the project faces challenges regarding limited utility and demand drivers beyond basic governance and staking, low voter turnout in governance, and an anonymous core team with limited public development metrics.