PandaSwap (PND) Airdrop Details: How It Worked and What Happened to the Token

When PandaSwap launched its airdrop campaign in late 2024, it promised free tokens to anyone willing to follow a few simple steps. For many, it looked like an easy way to get crypto without spending a dime. But by early 2026, the story took a sharp turn. What started as a community-driven token giveaway turned into a confusing mess of mismatched tokens, zero trading volume, and unclear futures. Here’s what actually happened with the PandaSwap (PND) airdrop - and why you should be careful if you're thinking about joining similar campaigns.

What Was the PandaSwap (PND) Airdrop?

The PandaSwap airdrop was hosted through CoinMarketCap and distributed 666,666 PND tokens to 2,000 winners. Each winner got up to 333.33 PND, totaling $20,000 in value at the time of the campaign. That might not sound like much, but for a new decentralized exchange, it was a serious investment in user growth.

The goal wasn’t just to hand out tokens. PandaSwap wanted to build a community. That’s why the rules weren’t about holding crypto or staking - they were about engagement. To qualify, you had to:

• Add PandaSwap to your CoinMarketCap watchlist
• Follow @pandaswap_okex on Twitter
• Join the official Telegram group: t.me/pandaswapen
• Subscribe to the Telegram announcement channel: t.me/pandaswapann
• Retweet PandaSwap’s pinned tweet

These steps were designed to spread awareness. If you did them, you were entered into a random draw. No minimum token balance. No wallet connection. Just social media activity.

How PandaSwap Worked (Technically)

PandaSwap was built on the OKEx Chain as an automated market maker (AMM) - the same type of system Uniswap uses on Ethereum. It let users swap tokens directly from their wallets without needing a middleman. The platform also offered yield farming and staking, where users could lock up tokens to earn more.

The smart contract address for PandaSwap (PND) was 0x8eac...d5745c. That’s the code that ran the exchange and distributed tokens. But here’s the problem: even though the contract existed, the token itself didn’t seem to have any value.

By February 2026, CoinMarketCap listed PND with:

• Price: $0
• 24-hour trading volume: $0
• Total supply: 0 PND
• Circulating supply: 0 PND

That’s not a glitch. That’s a full stop. If no one is trading it, and no one can buy or sell it, then the tokens you won are essentially digital paper.

The Confusion: PND vs. PANDA

This is where things got messy.

While PandaSwap’s official token was called PND, another token - Panda Swap (PANDA) - started appearing on exchanges like MEXC and Binance. CoinGecko showed PANDA trading at $0.001633 with a $828.99 daily volume. That’s not nothing. But it wasn’t the same token.

In July 2025, MEXC announced a major contract swap. They were replacing the old PANDA token with a new one. The conversion rate? Four old tokens for one new token. That’s a 75% reduction in supply. MEXC shut down deposits and trading for a full day to make the switch. They warned users: "Do not deposit PANDA tokens after the cutoff. We will not swap them."

So now, there are two possibilities:

• You won PND - but it’s worthless and untradeable.
• You hold PANDA - but it’s a completely different token that replaced something else.

There’s no official statement from PandaSwap clarifying which token is the real one. No roadmap. No update. Just silence.

Why This Happened

Airdrops like this are common in crypto. Projects use them to bootstrap user bases. But PandaSwap’s approach had a flaw: it prioritized marketing over infrastructure.

They spent $20,000 on social media tasks - but did they spend enough on audits, liquidity, or exchange listings? The answer seems to be no. If a token’s supply is zero and trading volume is zero, it means no one is using it. No one is trading it. No one believes in it.

Compare that to projects like Uniswap or PancakeSwap. They launched airdrops too - but they had working DEXs, real trading volume, and clear tokenomics. PandaSwap didn’t. The airdrop felt like a marketing stunt with no product to back it up.

What Happened to the Winners?

If you won the airdrop, you likely received PND tokens in your wallet. But unless you had access to a platform that listed PND - and there weren’t any - you couldn’t sell, trade, or use them.

Some winners tried to move their tokens to MEXC or Binance. But those exchanges didn’t support PND. They only supported PANDA. And even then, MEXC made it clear: they were swapping their own version of PANDA, not PandaSwap’s PND.

So for most people who completed the tasks, the result was simple: a wallet full of tokens that can’t be spent, sold, or exchanged. And since the project vanished from public updates after mid-2025, there’s no hope of recovery.

Should You Join Future PandaSwap Airdrops?

The short answer: no.

Even if another PandaSwap airdrop pops up, the track record is clear. The token has no value. The team is silent. The platform is inactive. And the community is left guessing.

Here’s what to check before joining any airdrop:

• Is the token listed on at least one major exchange? If not, it’s likely dead.
• Is there real trading volume? Zero volume = zero liquidity.
• Is the project updating its website or social media? Silence after a campaign is a red flag.
• Is there a clear contract address? If the token’s contract is hidden or unverified, walk away.

PandaSwap (PND) was a lesson in how not to do an airdrop. It gave away money, but not value.

What’s Next for PandaSwap?

Nobody knows.

There’s no official roadmap. No team announcement. No technical update since July 2025. The CoinMarketCap page still exists - but it’s labeled as a "preview," meaning it doesn’t meet listing standards. The Universal Crypto ID (UCID 9347) is just a number. It doesn’t mean anything.

Some speculate the team abandoned the project and moved on to something else. Others think the PANDA token on MEXC is the new version - but even that has barely any trading activity.

The truth? PandaSwap is dead. The airdrop is over. And the tokens are worthless.