PEFI - Dai.E pair removed from Penguin Finance
Penguin Finance is a project that I really like and enjoy, but recently they have experienced a curve pointing downwards. I don't really like it, but I still trust the team completely, and I know that this is a team that will be around for a long time. I also know that they are about to launch their cryptopuffies, something that might cause some stir and action around the PEFI token which is currently trading below $0.7 per token. That is extremely low, considering that it was trading at $2 just around Christmas.
I am also surprised to see that Kassandra DAO was unable to bring any positive price action for the token, and even more so, the price has actually declined since the IDO was announced and since it has been running.
The last chance to apply for the IDO is today, so if you have more than 500 iPEFI tokens, make sure to join the IDO, because this is gonna get interesting.
Of course, I cannot guarantee anything, but this sounds like a promising project, and just like Boofi, this has potential. Boofi is another project that had its launchpad through Penguin Finance. It was quiet for a long time, then it pumped a lot around platform launch, but it has then dumped greatly since then (it sold at $7 on the top and it is currently trading at $0.7).
No matter what, I have to remove my liquidity from the PEFI - DAI.E pair on Penguin Finance, even though I do not like it. Why not? Because I am about to suffer due to the loss of value for PEFI. This is an impermanent loss at its worst, and I will experience it since DAI is stable, while PEFI has suffered great losses. It might be wise just to leave it there, hoping that the PEFI price will pump in the coming days, but I guess I will withdraw it no matter what.
At Penguin Finance, users earn xPEFI by staking PEFI on Nest, thereby earning passive income. In addition, the platform eliminates the risk of permanent loss of users who earn xPEFI by staking PEFI.
Users can also earn PEFI by staking LP “tokens”. Although the price volatility is greater than that of Nest (xPEFI), the platform offers higher APY.
Penguin Finance is one of the applications with the lowest transaction fee and highest compound return on the Avalanche network. Some of the transaction fees are given as rewards to xPEFI holders, while a portion is given to pool providers as rewards.
At Penguin Launchpad, xPEFI holders have the opportunity to participate in various pre-sales. In addition, xPEFI owners can purchase projects coming to the Avalanche network at pre-sale prices.
Users can also earn other native “tokens” on Avalanche by staking xPEFI on Club Penguin. Users are protected from market fluctuations thanks to the “tokens” earned by staking xPEFI again by staking PEFI.