200 Million Penguins Burned, Valued at $160,000

In the Robinhood chain, 200 million meme coins named Penguins (PENGUIN) have been burned. The value of the burned amount is reported to be approximately $160,000 (around 214,560,000 KRW). According to Crypto Briefing, the Penguin project burned 200 million tokens on the 9th, but specific transaction hashes and burn addresses have not been independently verified. Community sources report conflicting figures for the burn amount, with estimates ranging from 160 million to 200 million, and the percentage of total supply presented differently as 19% and 26.7%. Penguins (PENGUIN) is a different asset from the Ethereum-based non-fungible token (NFT) project PudgePenguin (PENGU). The Robinhood chain is an Ethereum-compatible Layer 2 built with the goal of tokenizing real-world assets, and it does not have an official native token. Therefore, referring to Penguins (PENGUIN) as a 'Robinhood chain token' can lead to confusion. Token burns reduce the circulating supply, but it is difficult to assess market value or the sustainability of a project based solely on the burn amount. To understand the actual impact on supply, trading volume, liquidity, and holder distribution must also be considered. While the Robinhood chain aims to establish a financial infrastructure for real-world assets, meme coins and community-driven tokens are also emerging in its early ecosystem. What is crucial in this case is the verifiability rather than the amount burned.

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