Pudgy Penguins Unveil PENGU Token on Solana, Limited Claim Window Set at 88 Days
The renowned Pudgy Penguins NFT project has introduced its new PENGU token on the Solana blockchain, granting holders of certain ecosystem assets 88 days to claim their tokens before any unclaimed portions are permanently removed from circulation.
The PENGU token’s initial release on Solana comes with plans to later extend compatibility to Ethereum and the project’s own Abstract Chain. Boasting a fixed supply of 88,888,888,888 tokens, PENGU aims to broaden the Pudgy Penguins ecosystem—originally built on Ethereum—into a multi-chain environment.
Claims officially opened Tuesday at 8 a.m. ET for owners of Pudgy Penguins, Lil Pudgys, Rogs, and SBTs, according to Luca Netz, CEO of Igloo, the company behind the project. After the initial claim phase, PENGU is expected to debut on several major centralized exchanges, including Binance, Bybit, and OKX. Rogs are scarce, collectible items unique to the Pudgy Penguins world, while SBTs (soulbound tokens) represent achievements, identities, or community memberships and are non-transferable. Eligible SBTs were confirmed based on a snapshot taken on December 8, and claims for the core NFT collections will be tied directly to the tokens themselves.
In preparation for the launch, the Pudgy Penguins team advised participants to ensure their Solana wallets contain at least $10 worth of SOL to cover gas fees. Holders looking to claim PENGU must connect both their Solana and Ethereum wallets, making desktop-based solutions the most convenient option. On the community’s official Discord channel, team members explained that claimants can also set up a universal name linking their Pudgy Penguins NFT to their wallet, enabling other projects to airdrop tokens across both Ethereum and Solana.
Beyond the digital realm, physical Pudgy Toys—plush figures inspired by the NFT collection and available at retailers like Walmart and Target—will also be eligible for PENGU tokens. Some reports suggest that QR codes inside the toy packaging were stolen before the token’s launch, but these claims remain unconfirmed. The toys operate through the Pudgy World metaverse using Igloo’s Ethereum Layer 2 Abstract Chain, which is currently in testnet. Once mainnet is live, a LayerZero-powered PENGU bridge will open, allowing toy owners to redeem their tokens.
According to the team, around seven million wallets, spanning multiple communities and protocols, are eligible to claim PENGU. This broad eligibility is intended to welcome an expansive user base into the Pudgy Penguins ecosystem.
The project first signaled its intentions to introduce PENGU on December 5. At the time, the team framed the token as a gateway for millions of existing Pudgy Penguin fans—as well as those completely new to the crypto space—to align themselves with the brand.
In terms of distribution, 25.9% of PENGU’s supply is earmarked for the Pudgy Penguins community, with another 24.12% allocated to other communities and prospective “Huddle” members. The team and future contributors will receive 17.8% of the supply, subject to a one-year cliff and three-year vesting schedule, while 11.48% remains under company control with the same vesting conditions.
Launched in 2021, Pudgy Penguins has grown into one of the NFT market’s premier collections. According to CoinGecko data, it recently claimed the second-highest market capitalization among NFTs, surpassing Bored Ape Yacht Club and trailing only CryptoPunks. With a market cap of roughly $1.2 billion, Pudgy Penguins continues to expand its reach, now embracing cross-chain capabilities and welcoming new participants through the PENGU token.