Penguin Igloos are one of the main methods of earning $PEFI along with the Penguin Nests. They are our version of yield farms. Igloos allow you to stake your Pangolin liquidity provider (LP) tokens within the PeFi ecosystem in order to receive a percentage of all $PEFI rewards that are distributed by the network.
PEFI/AVAX: 17.39% (WF: 2.56%)
AVAX/ETH: 11.96% (WF: 2.56%)
PEFI/PNG: 14.13% (WF: 2.56%)
PEFI/SNOB: 14.13% (WF: 2.56%)
PEFI/SUSHI: 14.13% (WF: 2.56%)
PEFI/DAI: 14.13% (WF: 4%)
PEFI/LINK: 14.13% (WF: 4%)
In order to reward Penguins who HODL $PEFI, there is a withdrawal fee on all pools (currently 2.56% for most pools, decreasing biweekly). 75% of all of the fees collected will get burnt, not only increasing the overall value of the token but also reducing the amount of PEFI in circulation perpetually. The remaining 25% will be given as an incentive to the developers.
When do the market buy and burn of PEFI happen?
As per the community's decision, burns are scheduled to happen every 12 hours so long as there's at least $20,000 USD in fee value. This helps optimize the process and improve gas efficiency.