Penguin Finance Partners with Solana Prime

SolanaPrime, the IDO launchpad, teams up with Penguin Finance, a liquidity service platform.

By
Soumen Datta
on
March 8, 2022
Category:
DeFi

Penguin Finance and SolanaPrime Join Hands

Penguin Finance has joined forces with Solana Prime to offer liquidity solutions to Solana Prime.

Penguin Finance made the public announcement about the development on March 7 with a tweet. Solana Prime also welcomed their new partnership with a tweet on the same day. Penguin Finance is a treasury management service that provides liquidity bonding and vesting. Rather than renting liquidity, a protocol can purchase liquidity through the bonding service. On the other hand, SolanaPrime is designed to be the ultimate launchpad and solve the scalability and efficiency problems. 

“Given our mutual focus on the Solana ecosystem and the desire to help projects become even stronger within the network, our partnership with SolanaPrime is a natural step towards achieving just that. We look forward to working together and incentivizing long-term community participation for projects that use the SolanaPrime launchpad,” Arsene, Marketing Director at Penguin Finance, stated in the Medium announcement on March 7.
Source

According to the Medium article, to ensure maximal capital efficiency with minimal risk to investors, SolanaPrime has established an insurance fund. They have also introduced tradable NFT tier allocations to supercharge token velocity and make staked PRIME capital work. 

But SolanaPrime recognizes that liquidity is essential to the success of a protocol, especially in DeFi. So, as a result of this partnership, Penguin Finance will offer SolanaPrime a one-stop solution for treasury management, including swaps, bonds, and staking.

What is SolanaPrime?

As per the Medium article, SolanaPrime is a fully decentralized IDO launchpad platform powered by Solana. Therefore, it acts as the primary market entry point for the next generation of DeFi, GameFi, and Metaverse dApps to launch on the Solana ecosystem, either through direct token participation in the IDO or indirect exposure SolanaPrime in its entirety.

Where to find SolanaPrime:

Website | Twitter | Telegram | LinkedIn | Medium

What is Penguin Finance?

According to the Medium article, Penguin is a Liquidity-as-a-Service Platform that provides a one-stop shop for treasury management functions such as swap, bonding, and staking. Instead of renting liquidity, a protocol can use the bonding service to acquire it. By sticking with a protocol during a downturn, protocol-owned liquidity can help it survive in the long run. Instead of encouraging short-term participation, token vesting will enable protocols to align their incentives and communities with their long-term objectives.

Where to find Penguin Finance:

Website | Twitter | Discord | Telegram | Medium

Check out the Web3Wire Linktree to keep up with all relevant Web3 and Crypto!

Tags:
Soumen Datta

Soumen is an experienced writer with a background in Laser Physics. He has a passion for learning and is mainly interested in Defi, P2E gaming, and NFTs. His largest crypto holdings are BTC, ETH, SOL and DOT token.

Text Link

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.