Penguin is a DeFi hub on the Tezos blockchain that lets PNG token holders lock their assets and receive xPNG, a yield‑bearing receipt token. This guide shows you exactly how to interact with the Penguin contract, claim rewards, and manage your xPNG position.
Key Takeaways
- xPNG is a staking derivative that grows in value as the Penguin protocol distributes Tezos block rewards.
- You need a Tezos wallet, some XTZ for gas, and PNG tokens to start.
- The process involves three steps: approve, deposit, and mint xPNG.
- Rewards accrue daily; you can redeem xPNG for PNG plus accrued earnings at any time.
- Be aware of smart
Mike Rodriguez Author
CryptoTrader | Technical Analyst | CommunityKOL