The Perpetual
Pudgies Auction
A permissionless protocol that buys and auctions Pudgy Penguins while burning token supply.
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0.0%
PPAST Price
1 ≈ 0.000000 ETH
Tokens In Circulation
0
Available for pudgies purchases
0.00000 ETH
Reserve
0.00000 ETH
PPAST Market Cap
$0.00
Tokens Burned
0 PPAST
Pudgy Penguin Auction
Flywheel
Driving value through trading fees, pudgy purchases, auctions and token burns.
Trading fuels the treasury
Buy or sell, each trade contributes surplus to the treasury, funding future purchases.
Buy Pudgy Penguins
The treasury deploys accumulated surplus to purchase Pudgy Penguins.
Pudgy Penguins go to auction
Each Pudgy Penguin is sold via a Dutch auction denominated in ETH.
Burn the winning bid
The winning $PPAST is burned, reducing circulating supply and raising the floor price.
Pudgy Penguins Auction
Each Pudgy Penguin is auctioned using a Dutch auction mechanism. The winning $PPAST is burned, reducing circulating supply.
Live Auction
No Active Auction
Waiting for the protocol to purchase a Pudgy Penguin from the floor. Current floor price: 0.01 ETH
Previous Auctions
Pudgy Penguin #6324
101,287 PPAST
Pudgy Penguin #6324
99,122 PPAST
Pudgy Penguin #863
86,761 PPAST
Frequently Asked Questions
Everything you need to know about Pudgies.auction and $PPAST
What is Pudgies.auction?
Pudgies.auction is a permissionless protocol that continuously buys Pudgy Penguins NFTs from the open market and auctions them off using Dutch auctions. The winning bids are paid in $PPAST tokens, which are then permanently burned, creating deflationary pressure.
What is $PPAST?
$PPAST (Pudgy Penguin Auction Strategy Token) is the native token of the protocol. It's built on a bonding curve mechanism, meaning its price increases as more tokens are minted. Each token represents a claim on the protocol's ETH reserves.
How is $PPAST backed?
$PPAST is backed by ETH held in the protocol's reserve. The bonding curve ensures that tokens can always be redeemed for a proportional amount of ETH based on the current supply and curve parameters.
Is $PPAST supply fixed?
The maximum supply is capped at 21 million tokens, but the circulating supply is dynamic. Tokens can be minted by depositing ETH and burned through auction participation, creating a deflationary mechanism as Pudgy Penguins are purchased.
How do Dutch auctions work for selling Pudgy Penguins?
Each Pudgy Penguin starts at a high price in $PPAST and decreases over time until someone purchases it. This ensures market-driven pricing while maximizing the amount of tokens burned per NFT.
How does burning $PPAST affect the price?
When $PPAST is burned, the total supply decreases while the ETH reserve remains constant (or grows), increasing the reserve-to-supply ratio. This mathematically increases the redemption value of remaining tokens.
What is the fee structure for trading $PPAST?
There's a 10% spread on both buys and sells. 20% of these fees go to the protocol treasury, while 80% builds up as 'surplus' that's used to purchase more Pudgy Penguins from the market.
Why use a bonding curve instead of an AMM pool?
Bonding curves provide guaranteed liquidity at all times without requiring liquidity providers. The price discovery is deterministic and transparent, and there's no risk of liquidity being withdrawn.
Will early traders be rewarded?
Early participants benefit from lower token prices on the bonding curve and potentially higher appreciation as the protocol accumulates more Pudgy Penguins and burns more tokens over time.
How does Pudgies.auction support the broader Pudgy ecosystem?
By continuously buying Pudgy Penguins from the market, the protocol creates sustained demand and price support for the collection. The deflationary $PPAST mechanism also aligns long-term holder incentives.
Can this model work for other NFT collections?
Yes, the bonding curve + Dutch auction + burn mechanism can be applied to any blue-chip NFT collection with sufficient liquidity and market depth.