Holding Fat Penguin NFT for Over 1000 Days: Review and Outlook

Unknowingly, I have held the Fat Penguin NFT for over 1000 days now. This period has been both hard and happy, as this project has provided holders with too many rewards.

Recently, there have been reports that the Fat Penguin project is about to issue tokens. At first, I was skeptical because the project team has always downplayed the token issuance plan and never relied on Ponzi schemes to maintain the floor price.

Looking back over the past three years, the team and community have been making simultaneous efforts in both Web2 and Web3, continuously enhancing brand awareness and making Fat Penguin a global focal point.

After careful consideration, I believe that the decision to issue tokens at this time may be because: the current market is in a bull market, with a large influx of newcomers. Fat Penguin has a good reputation in both the Web2 and Web3 worlds, and can serve as a bridge connecting the two worlds, helping newcomers understand Web3 while also promoting project business development.

In other words, the new token is not only the spiritual symbol and driving force of the Fat Penguin ecosystem but may also become the carrier for the large-scale application of Web3. Regardless, I choose to unconditionally trust the project team.

Here are ten important pieces of information about the Fat Penguin token issuance:

1. Token distribution mechanism: No snapshot, holders of NFTs can claim within 88 days after the token goes live. This method helps prevent insider trading.

2. Digital Preference: The project team seems to prefer the number 8. The total number of NFTs is 8888, the total token supply is 88,888,888,888, and the claiming period is 88 days. In Chinese, "8" sounds like "fa," which has a positive connotation.

3. Token Positioning: Currently, the official description of the token's use is minimal, only mentioning the promotion of Web3 adoption and the expansion of the community size. Personally, I speculate that this token is more of a cultural symbol with Meme attributes, representing the innovative spirit and positive values of the project over the past three years.

4. Choice of underlying public chain: The token will be issued on Solana first, possibly to lower the participation threshold. Future plans include expansion to Ethereum and Abstract Chain.

5. Valuation issue: Other projects should not be used as a reference for valuation. The goal of the Fat Penguin is to become the best project, not to imitate others.

6. Community Allocation: 25.9% of the tokens will be allocated to the community. As a long-term community member, I believe the team will treat every supporter well.

7. External Community Allocation: 24.12% of the tokens will be allocated to external communities, covering 5 million addresses. This may include communities that previously participated in airdrops, as well as institutions that have partnerships with the project.

8. FTT Holder Compensation: 0.35% of the tokens will be allocated to FTT holders as a gesture of care for the victims of the cryptocurrency industry.

9. Long-term Development Plan: The token issuance is just the first step of the Fat Penguin ecosystem. In the future, there will be more outreach activities and new projects launched, such as the consumer-level L2 network Abstract.

10. Exchange Support: Considering the brand influence of Fat Penguin, it is expected that mainstream exchanges will support its listing.