Pangolin V2 Review: Is This Multi-Chain DEX for You?

Pangolin V2 is a decentralised exchange for token swaps. It is described as an automated market maker (AMM): instead of matching you with a particular buyer or seller, an AMM generally routes a trade through pools of tokens held in smart contracts. Your available swap pairs and quoted price depend on the pools and network you select.

Pangolin lists Avalanche, Hedera, Flare and Songbird as supported chains. That makes it potentially useful if your assets are already on one of those networks, but support for a chain does not mean every token on it is available or liquid. Check that the app is set to the intended network and verify token contract addresses independently before swapping. PNG is Pangolin’s token; the details here do not establish its current utility or what rights holding it gives you.

Pangolin does not publish a swap fee in the details reviewed for this page, so you should not assume a particular rate. The amount shown in the app before you confirm is the key figure to inspect. Compare the input and output amounts and check any price-impact or slippage warning; a thin pool or large trade can produce a worse price than you expect.

You will also pay the blockchain’s network fee for transactions such as approving a token or completing a swap. Gas is separate from a DEX trading fee and varies by network and conditions. The final wallet confirmation should show the transaction details and network cost. If the quote changes materially, the token address is unfamiliar, or the transaction asks for permissions you do not understand, stop and investigate rather than signing.

Three audits are listed for Pangolin, but their names, dates, contract coverage and findings are not established here. That leaves you without enough detail to judge whether the audits cover the exact V2 contracts and chains you intend to use. Read the full reports and check whether identified issues were fixed before putting significant funds at risk.

A DEX swap is generally executed through smart contracts from your own wallet rather than through a custodial exchange account. That does not remove risk: a contract flaw, malicious token, compromised wallet or incorrect transaction can still lead to losses, and blockchain transactions are usually difficult to reverse. Pangolin’s licensing status, incident history and custody arrangements are not established here. Use a separate wallet or limited balance if appropriate, and do not approve unlimited or unfamiliar token permissions without understanding them.

Pangolin is accessed through its web app and is intended for wallet-based use. You will need a wallet that supports the network you choose and the relevant assets to pay both for the swap and network gas. The supported chain list is Avalanche, Hedera, Flare and Songbird; confirm the app actually offers the chain and token pair you need before sending assets there.

A typical swap flow is to connect a wallet, select the correct network, choose the tokens and amount, review the quote, then approve any required token permission and confirm the swap. Approvals and swaps can be separate transactions. Network congestion can affect confirmation time, and no specific speed or mobile-app experience is established here. On a phone, use a wallet’s trusted in-app browser or connection flow, and make sure the transaction details remain visible before signing.

The main limitation is the lack of decision-useful operating detail: Pangolin does not publish a fee figure in the details reviewed here, and the three listed audits cannot be assessed without their reports and scope. The available information also does not establish liquidity for particular pairs, slippage levels, transaction speed, support response times or the terms and utility of PNG. Those details matter more than a general multi-chain label when you are deciding whether a specific trade is worthwhile.

Treat Pangolin as a tool to evaluate swap by swap, not as a guarantee of the best price or a safe place to park funds. Check the quote against another source, account for gas, and avoid trades where the pool appears thin or the output is unclear. If you need clearly published fees, independently verifiable audit coverage or account recovery, look for a service that documents those points before you connect a wallet.