Cryptocurrency exchanges enable users to exchange cryptocurrencies or even change them to traditional fiat money. This post is all about Pangolin cryptocurrency and its decentralized exchange (DEX). This tutorial covers some of the important concepts such as how to set up, how to use Pangolin, and recommended Wallets for PNG.
Pangolin Cryptocurrency: What is Pangolin?
According to its website, Pangolin is a decentralized exchange (DEX). It operates on Avalanche and utilizes the identical automated market-making (AMM) model just like Uniswap. Pangolin comes with three crucial advantages: These features are as follows:
The exchange feature available on the website enables users to trade within AVAX, PNG, and remaining coins. The exchange can also be used to buy other coins like SUSHI, USDT, AAVE, and other coins.
Pangolin Cryptocurrency: PNG Token
PNG is the Pangolin’s token. It has a supply of 538 million tokens. The initial 95% of tokens are for the community treasury to use for funding liquidity mining. The remaining 5% is for a community airdrop. The circulating supply is 21,378,683 PNG coins and the maximum supply is 538,000,000 PNG coins.
How to Set up the MetaMask wallet?
This is the most important step. In this, first, users must create an Avalanche Wallet. To do this, simply visit https://wallet.avax.network/ and then click on “Create New Wallet”, and follow the given instructions. The next step is to get the AVAX. After getting AVAX, users must send their AVAX to the Avalanche Wallet.
The above step should be followed only if users don’t have an Avalanche wallet and AVAX tokens. If they already have the Avalanche wallet then they can move to Set Up Metamask. The following step is explaining how to set up Metamask with Avalanche.
Pangolin Cryptocurrency: Image Source: pangolin.exchange
Pangolin Cryptocurrency: Image Source: pangolin.exchange
Now, the next step is adding Pangolin (PNG) token on the MetaMask. To do this, select “Add Token”
Pangolin Cryptocurrency: Image Source: pangolin.exchange
and then Select “Custom Token” and now, Enter the following data:
Token Contract Address: 0x60781C2586D68229fde47564546784ab3fACA982
Token Symbol: PNG and then select “Next” to successfully add PNG on Metamask.
Pangolin Cryptocurrency: How To Swap Tokens?
To swap tokens users can use the swap function. For example, the below image is displaying how to swap the token. In the below image, the .01 AVAX was swapped for 0.0496027 UNI at a rate of 0.201602 AVAX per UNI.
Pangolin Cryptocurrency: Image Source: pangolin.exchange
One thing to remember here is that if users want to decide to raise the amount they desire to swap in an inefficient pool, a notification will show that the rate is unfavorable.
Pangolin Cryptocurrency: Image Source: pangolin.exchange
Pangolin Cryptocurrency: Where to buy PNG?
The Pangolin (PNG) cryptocurrency can be purchased on various top cryptocurrency exchanges such as ZT, Gate.io, LBank, BitMart, and Hotbit.
