Pangolin is a decentralized exchange (DEX) that runs on Avalanche, uses the same automated market-making (AMM) model as Uniswap, features a native governance token called PNG that is fully community distributed and is capable of trading all tokens issued on Ethereum and Avalanche.
Pangolin is airdropping a total of 26,900,000 PNG tokens to UNI and SUSHI holders. The snapshot was taken on December 7th, 2020 and eligible holders can claim their tokens within one month of Pangolin’s launch (deadline is 10th of March 2021).
WARNING/IMPORTANT: We were not able to claim this airdrop with our Trezor address because step 13 failed with error “signature doesnt match the right address”. If you are able to claim this airdrop using Trezor feel free to message us on Telegram, but unfortunately it seems that it’s not possible to use Trezor with Avalanche for now.
Non-Trezor users can follow the following steps to claim the PNG airdrop:
- To check the amount you are able to claim, follow this link and type in your address at the bottom of the page. Take the value output and divide by 10^18 to get the number of PNG tokens you are able to claim. A 400 UNI balance will have got you around 80 tokens.
- Visit the Avalanche bridge page.
- Connect your Metamask wallet where you held your UNI or SUSHI tokens during the snapshot date.
- The snapshot was taken on December 7th, 2020.
- Now select UNI or SUSHI as the token you would like to transfer. This step costs a lot of gas (check gasnow.org for appropriate gas fee) + bridge fee, but could be worth paying it depending on your amount of claimable PNG.
- You need to send at at least 1 UNI or SUSHI to activate the claim. You can still claim even if you don’t have any UNI/SUSHI in your wallet by buying UNI/SUSHI on some exchange and sending it across the bridge.
- Now select your destination address and complete the transaction. Select “I want to send funds to my address” so that the UNI/SUSHI crosses the bridge into the same address controlled by your wallet but on the Avalanche network. (Warning for Trezor users: It seems like there is no way to get your UNI/SUSI back to ETH Mainnet right now, because Avalanche does not support Trezor yet)
- You need some AVAX to pay the transaction fee for the following steps. Buying at least 0.3 AVAX from an exchange is recommended.
- Because Avalanche works on multiple chains, you need to create an Avalanche wallet, get your X-chain address from the wallet and send your AVAX from the exchange to your X-chain address. Follow this tutorial to learn more. (do not use Ledger, because cross chain transfers won’t work with Ledger)
- Now do a cross-chain transfer from X-chain to C-chain and send your AVAX from your C-chain wallet to your ETH address on the Avalanche network.
- Set up your Metamask to work with the Avalanche network so that you can access/claim your PNG airdrop on Avalanche. Follow the steps on this page to learn more.
- Visit the Pangolin app page after you’ve accessed your airdrop wallet on Avalanche.
- Click on “Airdrop” and claim your tokens. You need to exactly set 470 Gwei gas price, otherweise your transaction will be stucked an Metamask has to be reseted until you try again.
- The number of tokens you will receive will be based on this formula: PNG amount = 0.7 * (UNI amount ^ 0.8) & PNG amount = 0.3 * (SUSHI amount ^ 0.8).
- UNI holders have an allocation of 18.5M PNG and SUSHI holders have an allocation of 7.8M PNG tokens.
- After claiming your airdrop you could send your AVAX and UNI/SUSHI from C-chain to X-chain address and then withdraw it to an exchange without the need to pay expensive bridge fees.
- For more information regarding the airdrop, see this page or check this extremely detailed tutorial on Reddit. Follow this tutorial to set up your Metamask for Avalanche.