Weekly Nutbox Report #11
Hello folks, it's time for this week's Nutboxes' report.
Today is a special day for the Nutbox team and all Nutboxes' enthusiastic . The history will remember on November 1st of 2021, the Walnut Project has been officially launched. This is the top priority of the second phase of the three phases development plan; it is the start of a new era of CommunityFi. I have mentioned the Walnut Project numeric times in past reports, and now it is finally here.
Nutbox Walnut has recently reached a strategic cooperation with the BSC's star project, Mint Club. Hundreds of communities from Mint Club will start CommunityFi through the Walnut platform.
In addition, Walnut has also reached cooperation with well-known game guilds Gamefox Infinity, A16, etc. After the launch, Walnut will start participating in gaming side of crypto and blockchain ecosystem, and bring more features to the product.
The native token of Walnut, $NUT, is minted on the Binance Smart Chain. Therefore, users needs to connect to the Binance Smart Chain wallet, such as the MetaMask browser extension in order to utilize the Walnut platform. It also connects to HIVE/STEEM, Polkadot and Kusama blockchains, which makes this platform a true multi-blockchain environment.
However, as of now, $NUT does not have a literal US dollar value yet, and it cannot be trade. So, in the mean time, wait for the airdrop announcement, and calculate the most benefit move for yourself before considering transferring $PNUT cross-chain the to Binance.
Also, keep in minds, delegating your token to Walnut requires fees each time the delegation changes. Make sure you have enough tokens, or wait until the reward is high enough for withdraw.
$PNUT Price
The price of $PNUT has stop the decline from last week and started to bouncing back on Tuesday. It ended the week at $0.0246 on Sunday; it was a good increase of 10.81% from Monday.
Although I am sure there is still a lot of room for the price to move up, and still a long way to reach the ideal price range of our users. However, I believe that the news of the official opening of the Walnut platform will boost the confidence of users that has declined slightly after the halving event.
Total Delegated Power
Nutboxes' total delegated power also rebounded on Thursday. Although it has not recovered, or even match the number from Monday, but it is definitely good to see some positive changes after the past few weeks.
However, since the Walnut platform has been launched officially, some SP will definitely move to the new platform. What can I say, people like shinny, new things. Since the total number of delegated power is definitely finite, the practical significance of the total amount for Peanut platform alone has been much less impact than before.
Not to mention, for those delegations that already exists in the system, the new delegated pool will give reward of the old pool as well.
Keep in mind though, delegating to Walnut yields $NUT and $PNUT, or whatever each community's native token. The upvotes only comes from the Peanut project.
The team said that this November will be a busy month, let us look forward to more surprises.
Development update
Contract and relayer:
- Fix new known bugs in the contract;
- Steem and Polkadot completed the second round of testing.
Walnut front end
- The community adds ecological classification attributes
- The web logo and name of the sub-community use the community’s own
- Update mining pool apy calculation method.
- Lazy loading of Polkadot API tools to improve page fluency.
Walnut backend
- Monitor community creation events and store all communities created on the chain