Pangolin was originally incubated by Ava Labs to offer a credible DEX AMM solution on the Avalanche C-chain. The project was subsequently handed over to the community and thus arrived the first community driven AMM protocol on the Avalanche blockchain.

PNG operates on the same principles as Uniswap v2 with the added uniqueness of being totally community oriented, governed and managed. Unlike Uniswap or other AMMs, Pangolin differs on three main points:

1. Avalache blockchain offers faster transaction finality times and cheaper gas fees thus making it more beneficial to the average DeFi user.

2. Community driven development makes the whole protocol transparent.

3. The PNG native governance tokens has a fair launch. No token is distributed to the team, advisors, Ava Labs or any other organization or entity. The entire token supply is earmarked for the community.

Pangolin is a fork of Uniswap V2. A standard AMM model where liquidity providers commit their tokens to a pool in exchange for rewards, and the pooled token pairs enable traders/users to execute trades over the Pangolin DEX.

There are 538 million tokens scheduled for release. 256M tokens will be relased over a span of the next 4-years thereafter the emission will cut down by half every four years releasing the remaining tokens effectively in perpetuity.

5% of the token supply is earmarked for SUSHI/UNI token holders as airdrops for incentivizing participation and usage of the Pangolin DEX.