What is Ping (PING)

I. Project Introduction

1. What Is PING?

PING is a token minted on the Base network using the x402 protocol (an open-source payment protocol designed for machine/AI payments). The project was initiated by the X / community account @pingobserver, positioning itself as the first example token under the x402 protocol. Its aim is to showcase the protocol's instant, low-cost payment capabilities and its use in machine/Agent-driven on-chain micropayment scenarios.

2. How Does PING Work?

x402 Minting/Claiming Process: Users can interact with the x402 server (e.g., authorizing USDC) to passively or automatically receive PING, demonstrating the "mint/pay directly" use case centered around HTTP/AI agents.

On-chain Circulation and Trading: PING is a standard ERC-20 token deployed on Base, with on-chain visibility of holders and liquidity pairs.

Community-Oriented Showcase: The project is more of a "demonstration/catalyst" for the x402 payment and micropayment capabilities rather than claiming to have a complex financial product roadmap. Its ecosystem activity is mainly driven by trading and community-driven awareness.

3. Who Founded PING?

Initiation/Operation: The project is mainly initiated by the community account @pingobserver, with the core operation and protocol layer (x402) driven by infrastructure-related entities like Coinbase. However, information on the PING token's development/issuance team is publicly available in an anonymous or community-based manner, and there is no traditional, verifiable founding team or large institutional backer disclosed.

Funding Status: No standard VC funding rounds or token sales for PING have been publicly disclosed; its popularity mainly comes from listing-enabled liquidity and market attention.

4. PING Tokenomics

Token Name: PING

Contract Address (Base): 0xd85c31854c2b0fb40aaa9e2fc4da23c21f829d46.

Total Supply: 1,000,000,000 (1 billion)

Circulating Supply / Holders: Nearly the entire token supply is in circulation, with the number of holders in the tens of thousands (The total number of holders is estimated at around 12k–19k on different platforms, depending on data retrieval time).

Allocation and Vesting Schedule: Official details on allocation/locking plans (such as team/investor/foundation allocations) have not been disclosed. Existing data from various platforms mostly describe it as "fair launch / community distribution / immediate circulation".

5. Timeline of Key Milestones

October 23, 2025: First launch / x402 first example: PING was publicly launched on Base with the x402 on-chain minting process, being called "the first coin/example of x402" by the community.​

II. Token Information

III. Related Links