Airdrop farmers led by Charles Moscoe, founder of venture fund GM Capital, are demanding that the Pudgy Penguins team directly unlock and distribute locked PENGU tokens to Abstract users. The Abstract Ethereum L2 developed by the Pudgy Penguins team will shut down by December after failing to achieve product-market fit. Out of the total 88.88 billion PENGU tokens, 29.3% remains locked, representing approximately 26 billion tokens worth $212 million. The PENGU price dropped about 2% amid criticism that the team made hundreds of millions selling the token while users walk away empty-handed. The Pudgy Penguins community remains divided on the issue, with the price potentially retesting the $0.0076 level.
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