Pudgy Penguins have begun issuing their own liquid staking token, penguSOL, on the Solana network. The project uses Sanctum’s infrastructure, which provides Staking as a Service technology and turnkey solutions for launching branded LSTs.
According to Sanctum, Pudgy Penguins will join its ecosystem alongside partners such as Bybit, Jupiter, and the Backpack exchange. penguSOL is already integrated into Solana DeFi applications and can be swapped via Jupiter’s services.
How the Token Works
penguSOL lets users earn staking rewards on SOL without locking liquidity. The token supports all key liquid staking functions: holders can use it in DeFi protocols, accrue rewards, and, when needed, swap back to SOL without waiting.
Funds are delegated to the SOL Strategies validator, which offers about 6.2% annual yield. All operations run through Sanctum’s infrastructure, which handles reward accounting and DeFi compatibility.
The Pudgy Penguins team emphasized that launching penguSOL supports the project’s broader ecosystem spanning NFTs, gaming products, and physical brands. According to Sanctum, its partner programs have already generated more than $5 million in revenue.
Expansion Beyond NFTs: Alliance with Sharps Technology
At the same time, Pudgy Penguins announced a strategic partnership with Sharps Technology, whose shares trade on Nasdaq. The goal is to integrate NFT models into Sharps’ crypto treasury and develop corporate settlement tools on Solana.
Sharps will combine its digital asset management platform with Pudgy Penguins’ intellectual property to build infrastructure tailored to both institutional investors and the retail market.
The partnership strengthens Pudgy Penguins’ position in the financial sector and shows the brand’s gradual shift from an NFT project to an active participant in the blockchain economy with its own tools for Web3 integration.
Following the announcement, the PENGU token rose more than 2% and, at the time of publication, is trading around $0.02928.
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