Breaking News | Walnut announces the launch of 20 million NUT ecological fund to support community development

Background

Community is a very important part of ecological construction, and the community also directly affects the development of the project.

In the future, each community will have its own Community Token (cToken), as well as community applications such as NFT, Social, and Game combined with this, and will be governed in a decentralized way.

The extension of Community here is also broader:

Community = game guild + content community + project party community + PoS chain mint community + offline community + various DAOs

Looking at the entire market, GameFi have 1,000+ game guilds, traditional staking market has at least 26,000+ staking service providers. There are countless content communities on Hive blockchain and Reddit.

20Million NUT Ecological Fund

Nutbox Walnut serves every community. Therefore, in order to promote community development, Walnut announced the launch of a 20 million NUT ecological fund to incubate and support the following ecological communities:

1. Polkadot: Total of 10 million NUT, used to support the Polkadot ecological community to participate in Polkadot/Kusama crowdloan and validator node voting through Walnut, and distribute NUT incentives proportionally according to the community’s participation in Crowdloan’s TVL ranking;
2. BSC: Total of 7 million NUT, used to support BSC ecological communities such as game guilds, content communities, DeFi communities, etc., to create new communities and open various community services through Walnut.
3. Steem&Hive: Total of 3 million NUT, used to support original Steem&Hive ecological communities through Walnut participating in proxy SP, HIVE, etc., to obtain NUT by staking.

How to participate

Any of the above ecological initiatives can receive community ecological Fund incentives in the following ways:

1. Community initiators are required to create their own community [https://walnut.nutbox.app] on Walnut. Refer to the tutorial to create:【https://nutbox-io.gitbook.io/nutbox/using-the-walnut/operation-guide】

2. Walnut allocated NUT rewards based on the community’s TVL, the number of users, and other data. For example, the calculation was weighted by the proportion of TVL in the total TVL of each community and the proportion of the number of community participants in the total number of people.

Note: If the community wants to apply for NUT as a cToken, please refer to the following steps:

• Step 1: community initiators need to apply through the following link to upload community information [https://forms.gle/5UTJaFb24pmEjj4KA]
• Step 2: The form will be reviewed by Nutbox team, usually takes 2 working days to get results;
• Step 3: Upon approval, NUT will be issued in batches to the community account created on Walnut.

Walnut hopes that by drastically reducing the cost for people to get started and run CommunityFi, Walnut will give community sponsors the ability to create a series of profitable, combos, and sustainable services, as well as a community-specific financial system, resulting in Walnut’s unique community ecosystem.

If anyone further has more questions, join[ https://t.me/nutbox_defi ] & feel free to ask there.