Pingu Exchange operates a decentralized, non-custodial perpetuals exchange and front-end for the Pingu Protocol. Users can trade crypto and real-world assets with leverage of up to 100x, using oracle-based pricing and USDC or MON for margin and settlement. The platform supports advanced order types, zero-spread trading, and fully on-chain execution. Its vaults allow liquidity providers to deposit collateral and earn distributions from the Stability Fund, which receives trader losses and a portion of protocol revenue. Pingu Exchange is built on Monad and states that it is winding down and will close on July 31, 2026.
