Yeliz Akmaca 
Launched in 2021 by AvaLabs, Pangolin is a decentralized exchange (DEX) that allows users to trade digital assets across multiple blockchain networks while retaining full control of their funds. Its multichain design supports Avalanche, Hedera, Flare, and Songbird, enabling seamless access to tokens from various ecosystems on a single platform.
Multichain support enhances network connectivity, increases liquidity, and provides users with a flexible trading experience. Pangolin’s native governance token, PNG, allows the community to participate directly in the platform’s development.
Pangolin V3 Features
Pangolin V3 marks a significant upgrade for both the platform and the Avalanche DeFi ecosystem. Its concentrated liquidity model improves capital efficiency and reduces slippage, while the dynamic fee mechanism balances trader costs with liquidity provider rewards in real time.
Key features include:
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Concentrated Liquidity
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Dynamic Fee Mechanism
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Multiple Fee Tiers
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Unrestricted Liquidity Provision
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Non-Fungible Liquidity Positions
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In-Range Farming
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Dual-Reward Superpools
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Optimized for Avalanche and Other Networks
Team Overview
Pangolin’s team consists of experts in finance, economics, business, marketing, blockchain and software development, design, and community management. Key team members include:
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Justin Trollip – CEO
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Brandon Mino – CTO
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Shane McCann – CFO
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Sarju Hansaliya – Lead Frontend Engineer
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Pedro – Software Engineer & Developer
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Shung – Smart Contract Engineer
Project Concept
Pangolin aims to provide decentralized trading for Avalanche and Ethereum-based assets while building a community-driven ecosystem. Users can swap tokens, provide liquidity, stake for earnings, and participate in governance.
Investors and Key Partners
Pangolin launched without primary investors, using a 100% community-focused token distribution model. Strategic partners enhance liquidity, accessibility, and functionality: Avalanche, Coinbase, Thorchain, Axelar, Flare Network, NEAR Protocol, Squid, OpenOcean.
How It Works
Pangolin operates as an Automated Market Maker (AMM):
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Users swap tokens from liquidity pools at low fees (0.3%), optimized by an advanced swap aggregator.
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Liquidity Providers (LPs) deposit token pairs into pools to earn PNG rewards and transaction fee shares.
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PNG can be staked for additional income; seasonal events (e.g., XMAS Stake) increase APR.
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V3 enables leveraged perpetual trading through Orderly integration.
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Multi-layer audits and Avalanche’s subnet structure ensure security.
Platform Tokens
Pangolin’s ecosystem is built on four multichain governance tokens:
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PNG – Avalanche network
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PFL – Flare network
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PSB – Songbird network
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PBAR – Hedera network
These tokens provide community-driven governance rights, allowing holders to vote on protocol upgrades and strategic decisions. Token distributions are fully community-focused with no allocations for advisors, insiders, or team members.
Use Cases
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Governance: PNG holders vote on platform development
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Staking: Earn revenue share by staking PNG
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Liquidity Incentives: LPs earn rewards
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Yield Farming & Super Farm Rewards
PNG Token Details
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Initial Launch: February 2021 (V1 tokenomics)
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Max Supply: 230 million PNG (V2 tokenomics)
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Total Supply: 230 million PNG
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Circulating Supply: 224.37 million PNG
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Distribution:
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Liquidity Providers: 83%
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Community & staking rewards: 17%
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Advisors/investors: None
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Ecosystem
Pangolin is one of the leading DEXs on Avalanche and is evolving into a multichain DeFi hub. Key ecosystem components include:
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Avalanche C-Chain – core operations
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Multichain Integration – NEAR, Flare, and other chains
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Deep Liquidity Pools & Farming – for AVAX and partner tokens
Features
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Token Swaps & Liquidity Pools
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Yield Farming & Super Farm Rewards
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Limit Orders & Advanced Trading Tools
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Portfolio Tracking & Watchlists
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In-App News Updates
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DEX-as-a-Service (DaaS) Integration
Official Links
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