The Future of Liquidity Provision Ain’t Nothin’ But a Peanut
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Trades … Trades never change… Whether you’re trading crypto, forex, commodities, indices or anything else, the same broad principles apply: buy low, sell high. Even seasoned traders struggle with the tradeoffs they must make to participate, though. This is especially true of trading cryptocurrency on decentralized exchanges (DEX), which have captured a significant percentage of volume from centralized platforms this year.
Although DEXs have many benefits over and above centralized portals — not least the ability to retain your private keys and skirt the rigmarole of KYC — there are downsides to be aware of. The inherent volatility and imperfect mechanisms of automatic market makers (AMMs), for example, means that trading on DEXes often entails slippage and slashed profit margins, with users having to overpay for even minor trades. Thankfully, these are problems that Peanut solves.
As we outlined in our previous post, Peanut is a novel tool that helps DEXs address hiccups like rate discrepancies and all the resulting negative impact. Using a set of smart contracts and advanced analytical algorithms to significantly increase the velocity of transactions, Peanut balances prices after each trade to reduce slippage and help liquidity providers (LPs) earn more.
We recently launched Peanut in test mode with a modest amount of liquidity (around $15K), and as expected, it quickly proved its worth as the liquidity increased by 50% in just a month. Having successfully tested and fine-tuned our processes in recent weeks, we want to make Peanut publicly available, so that everyone can benefit from reduced slippage and automatic price balancing.
Peanut: Powered by NUX
Peanut is powered by its own ERC20 utility token, NUX — ‘nut’ in Latin. In order to add liquidity to the Peanut pool, users will need to deposit some NUX tokens. Otherwise, Peanut’s algorithms won’t be able to conduct operations with the user’s liquidity.
NUX will also be used to withhold commissions for successful transactions with the user’s assets — percent from net income. In other words, NUX performs a similar function as gas for balancing algorithms.
Once the large-scale distribution is achieved and governance best practices proved, we’re planning to use NUX utility token for governance purposes.
NUX tokens can be stored in any wallet that supports the ERC20 standard. 40 million NUX will be minted at genesis, with distribution as follows:
- 6M NUX as an airdrop for REM token holders and Guardians of REMchain — initially locked 100%
- 10M NUX for pre-sale and public sale — initially locked 100%
- 10M NUX for community/partnerships/incentivizing — initially locked 70%
- 10M NUX for further development of the project — initially locked 50%
- 4M NUX for team — initially locked 100%.
An additional 10 million NUX will be shared among all LPs as liquidity mining during 5 years.
In addition, we will add 20% of raised ETH and appropriate NUX quantity on DEXs for NUX trading pairs.
Gearing up for the pre-sale
The NUX presale will commence in December, 2020, and will last for 7 days.
Presale price: $0.25 per NUX.
Accepted currencies: ETH, USDT, USDC.
Presale supply: 4,000,000 NUX.
Personal cap: from 1 ETH to 200 ETH.
There won’t be any whitelists or other criteria for participation. All you need to be mindful of is the time limit — don’t wait till the very last second or you could be too late! All tokens left after presale will be offered in a public sale.
The public stage is likely to begin in late December or early January, and will operate similarly to a Dutch auction. Essentially, the opening day of the auction is when we start gathering bids. Results will follow on December 24 at 16:00 UTC, with the bid submission window having slammed shut exactly 24 hours prior.
Starting price: TBA.
Last price: $0.35 per NUX.
Accepted currencies: ETH, USDT, USDC.
Public sale supply: 6,000,000 NUX + tokens left from the presale.
Personal cap: from 0.25 ETH to 25 ETH.
All NUX tokens left unsold following the public sale will be burned for the glory of Crypto God. Again, there won’t be any whitelists or restrictions for participation. The only exception is for residents of countries on the Financial Action Task Force (FATF) list.
Get some NUX
Note: NUX will be deposited to presale addresses and public participants right after each sale accordingly. Please don’t use your exchange accounts — otherwise, the exchange platform will get your NUX, not you! Initially, all tokens are frozen. But they’ll be unlocked in equal parts on a monthly basis over the next 25 months.
Airdrops and bonuses
Good news for holders of REM tokens and supporters of REMChain: 6,000,000 of NUX is reserved for your airdrops:
- 2,000,000 NUX will be divided between all addresses holding +50,000 REM tokens
- 4,000,000 NUX will be shared among all Guardians of REMchain
The amount of airdropped NUX depends on how many REM tokens you’re holding. Basically, the more REM in your possession, the bigger your airdrop share.
All tokens initially will be locked. There is an unlocking schedule — 4% each month during 25 months.
If the amount of tokens in an ERC20 address (or on the Guardian’s account) decreases, the airdrop share will decrease accordingly. If the amount should fall below the minimum threshold (50,000 for ERC20 holders and 250,000 for Guardians), airdrops will no longer be charged.
1,000,000 NUX has been provisioned to cover bonuses for some token sale participants. While we can’t yet disclose details on how to obtain a bonus, there will be an additional announcement. So keep your eyes open!
What are you waiting for? Join the waitlist
We don’t have to sell Peanut; Peanut sells itself. Trust us, you’re going to want to get in on the ground floor and acquire some NUX. To that end, make sure you don’t miss our upcoming token generation event. The best way of getting a front-row seat is to join the waitlist to hear about the starting date first.
You can also join our Telegram chat. The future of liquidity provision has arrived.
