PENG! represents the first successful implementation of the x402 protocol on BNB Chain, made possible through the integration of EIP-2612 Permit signatures. This breakthrough opens new possibilities for gasless payments on BNB Chain and other EVM-compatible chains.
The x402 protocol has evolved significantly with the recent addition of EIP-2612 Permit support. This enhancement was officially merged into the main x402 repository through Pull Request #485, expanding the protocol's capabilities beyond the original EIP-3009 USDC implementation.
Previously, x402 was limited to chains supporting EIP-3009, which excluded a few networks including BNB Chain, since Circle did not deploy native USDC on it. With the addition of EIP-2612 Permit support, any token that implements the permit function can now be used with the x402 protocol, dramatically expanding its reach and utility.
Since no facilitator existed for BNB Chain at the time of PENG!'s development, we created the first BNB Chain-compatible facilitator to enable x402 payments on the network.
You can check the facilitator address on BSCScan: View on BSCScan
The x402 protocol enables gasless payments through cryptographic signatures, eliminating the need for users to hold native tokens for transaction fees. This creates a seamless payment experience while maintaining security through cryptographic verification.
All payments are cryptographically verified using EIP-2612 Permit signatures, ensuring that only authorized transactions are processed. The facilitator contract handles the settlement process securely and transparently.
The x402 protocol is fully open source and community-driven. The recent addition of EIP-2612 Permit support demonstrates the protocol's commitment to innovation and broader blockchain ecosystem compatibility.
Learn more about the x402 protocol at: x402 Documentation
PENG! is a demonstration token with no utility, value, or purpose beyond showcasing the x402 protocol implementation. It is not a financial instrument, investment opportunity, or store of value.
Minting Information: PENG! tokens can be minted through two endpoints: /peng (5000 tokens for 1 USD1) and /PENG! (20000 tokens for 5 USD1). The /PENG! endpoint has a different token ratio because 1 USD1 is sent to the team to sustain operations and keep the facilitator running. If you prefer not supporting the project, make sure to use the /peng endpoint. 100% of proceedings will be used to add LP. 50% of tokens will be sent to users, 50% of tokens will be added to liquidity pools. There is no team supply and no external allocations.
Minting Limits: The mint will be stopped when 500,000,000 tokens have been minted or after 24 hours, it will be decided based on market demand. The team reserves the right to refund sybils and fresh addresses to ensure fair distribution.
This project does not constitute financial advice. Minting or acquiring PENG! tokens should not be considered an investment decision. The token serves purely as a technical demonstration of gasless payment systems.
Cryptocurrency transactions involve significant risks. Users should be aware of the following:
Volatility: Cryptocurrency prices can be extremely volatile. Regulatory Risk: Cryptocurrency regulations may change. Technical Risk: Smart contracts may have bugs or vulnerabilities. Market Risk: Cryptocurrency markets are highly speculative. Loss Risk: You may lose some or all of your investment.
Important: Only invest what you can afford to lose. This project is for educational and demonstration purposes only.
This implementation is for demonstration purposes and showcases the potential of the x402 protocol on BNB Chain. Users should exercise caution and understand the risks associated with cryptocurrency transactions.
PENG! demonstrates the first working implementation of x402 on BNB Chain, utilizing EIP-2612 Permit signatures for gasless approvals, custom BNB Chain facilitator for payment settlement, USD1 token for payment processing, and cryptographic verification for security.