The Nutbox Walnut Network mainnet will be launched soon,In order to help newcomers to learn more about Nutbox, Nutbox holded an AMA event on Telegram to share with you the current status of Walnut. The following is the content of Walnut AMA👇:
1.Could you please introduce Nutbox and the core team of Nutbox briefly?
Nutbox Walnut is a multi-chain CommunityFi protocol. Nutbox is community-centric and provides communities with a range of tools to help them get CommunityFi up and running.
Nutbox Walnut allows everyone to publish community tokens with just one click, deploy community-specific Staking pool and LP mining contracts, create community DeFi, Social, NFT, Game, and community Governance in 5 minutes. Community sponsors can easily realize community bootstrapping, autonomy, and generate sustainable value just like creating trading pairs on Uniswap.
The core members of our team have been working in the blockchain field for years. Our founder Yin Guozi is also the founder of the WhereIN community and the representative of the Steem supernode. Our core technical members have participated in the development of many well-known projects such as Ethereum、BTG、Steem、Phala and Near; the Peanut (Nutbox v1) developed by the team in 2020 has become the first DeFi platform & second largest agent in the Steem community in just 2 months. the TVL of Peanut once reached US$700w. And we have completed our seed financing, led by Waterdrop Capital.
2.What is Walnut ？What can Walnut do?
What is Walnut ？
Nutbox is divided into three stages: Nutbox Peanut (V1), Nutbox Walnut (V2), and Nutbox Donut (V3). Each stage is complementary and indispensable.
Nutbox Peanut（v1）：A Steem-based DeFi community
Nutbox Walnut（v2）：A multi-chain CommunityFi protocol
Nutbox Donut（V3）：A Multi-chain CommunityFi and smart contract platform
Nutbox Walnut focuses on CommunityFi. With the help of Crowd-Staking Protocol, Community Service & Plugins Store and Governance Factory provided by Walnut, the community can create its own CommunityFi just like creating trading pairs on Uniswap.
What can Walnut do?
Creating Crowd-Staking offering protocol
Walnut allows everyone to create the community's own CSO protocol, allowing staking asset holders to vote for community validators or delegate the right to use the pledged asset to the community to obtain rewards (community tokens or other) distributed by the community. Through this staking of community tokens, the CSO protocol injects basic value into the community tokens. On this basis, a positive circulation loop is established to promote community value step by step injecting community tokens to achieve a bootstrap of the community
Deploy community Service
Community initiator can use Walnut to deploy community such staking mining & LP mining protocol , community blogs and community applications, while providing services to community members, they can also add value into community tokens. Community initiator can deploy a Staking Pool that deposits transaction pair liquidity certificates and BEP20 assets to obtain community rewards. Community initiators can use Walnut to create unique community blogs to support community members in creating content. Once they are liked by SP/community token holders, they can receive STEEM/community token rewards. Walnut allows the community to reward community building and social interaction by providing cryptocurrency. In the future, Nutbox will allow the community to create more DAO Services through more components.
3.Create community governance module
Walnut could let the community leader start decentralized governance by creating a voting system for community proposals. Community governance based on social media (ie. community blog) makes the participation cost of community members lower and participation rate higher.
3.What is the difference between Nutbox Peanut and Nutbox Walnut?
Nutbox Peanut is a cross-chain asset staking platform based on Tron and Steem. On Peanut, users can exchange STEEM and SBD in the Steem network into TRC20 assets TSTEEM, TSBD, and TSP.
At the same time, they can also use methods such as delegating SP, depositing TSP, or depositing liquidity certificates from PNUT-TRX for staking and liquidity mining to obtain PNUT rewards.
On Nutbox Peanut, apart from the staking module, it also has its own blog system and governance module.
4.Walnut is a multi-chain CommunityFi protocol, can you explain CommunityFi briefly?
CommunityFi is the combination of Community and Finance, and we can establish a series of microeconomic systems around the Community through the financialization and token of Community relations . In the future, each Community will have its own Community Token, as well as DeFi, NFT, Social and other Community applications combined with it, which will be governed in a decentralized way.
CommunityFi has appeared around us, let take a look at some examples:
Are the above cases familiar? from that we get：Community = Game Guild + Community of Project + Blockchain Mining Group + Kinds of DAO
Blockchain games have 1,000+ game guilds, the traditional staking market has 26,000+staking service providers, and there are 300+ content communities on the Hive blockchain. These blockchain native communities provide huge market potential for CommunityFi.Nutbox Walnut was born in this market.
5.Who can participate? How to participate in the Walnut ?
Nutbox Walnut is a fully open decentralized platform where any individual and community can create their own cross-chain asset staking module.
The news of the Nutbox Walnut Network mainnet launch will be announced this month, supporting blockchains such as BSC, Steem, Hive, Polkadot.
The main network page has been updated substantially, the tutorial will be provided to everyone as soon as possible after the update, you can refer to the detailed tutorial on the testnet
Testnet: https://test.nutbox.io/
Here are the detailed Testnet tutorial： https://blog.nutbox.io/@nutbox/nutbox-walnut-official-tutorial-version-1-on-8-25-2021
6.How does Walnut bring benefits to community creators and participants?
Walnut helps the community build a staking pool and the community is as quick to bootstrap: pledged asset holders participate in mining through the community's staking pool, and obtain part of the original staking reward and additional community tokens. The community can also control the distribution ratio of staking rewards, keep part of the staking rewards in the community, and support the value of community tokens through repurchase and other forms.
Community Token has Staking Reward as value support and has a certain price. The pledged assets have always been controlled by users, avoiding the principal loss faced by users in the 2017 ICO, and users can also cancel or increase the staking support at any time, and adjust the support strategy in time. Not only to ensure the safety of user assets but also to provide a new way for the community to get support.
On this basis, Walnut also allows the community to quickly create incentive community blogs to use community tokens to incentivize social interaction and community building. As the community continues to grow, the community can also use Walnut to create a Governance module, enabling the community to implement decentralized governance and decision-making through the proposal voting system and other forms. At the same time, Walnut allows community managers to automatically allocate part of the community Token to the community DAO fund to accumulate community public account funds.
Walnut also supports the creation of community modules such as DeFi, NFT, and CommunityFi Services to enrich the application of CommunityFi. While providing services to community members or more users, such applications can bring substantial service fee income to the community. As the community's assets continue to increase, the community will also grow and develop.
7.How does Nutbox Walnut combine staking mining and slot auctions?
Nutbox Walnut supports the creation of a cross-chain asset staking platform, when users participate in the staking on Kusama/Polkadot network, this is what actually happened in the Kusama/Polkadot network, and the Nutbox Walnut contract is deployed on the EVM chain, so we introduce Nutbox Bridge. Nutbox cross-chain bridge is to solve this problem. It will capture various events of users on Foreignchain (here, Kusama/Pokadot), and synchronize users' voting information to Homechain (here, Nutbox Walnut contract), and the contract will receive After the user's voting information, it will be handed over to the corresponding staking module for processing. Finally, the user's staking deposit amount in the corresponding staking pool is updated.
Therefore, any community can create its own Crowdloan staking card in Nutbox Walnut, and bind the Crowdloan of a specific para chain project to its own community, so that users in their own community can vote for the projects they support through the community card. At the same time as the staking rewards of the project party, the community can also distribute additional rewards to users, which will greatly encourage users' staking enthusiasm.
8.Could you tell us what is the NUT Token allocation plan ?
NUT is the utility token of Nutbox, with a total of 1 billion. According to the different allocation methods, it is divided into 2 categories:
① 75% is used to support Nutbox ecosystem building, including public mining, DAO & Committee fund and collator;
② 25% is used for MKT & Partners, 2 rounds of private sale and allocation of founding team.
For more details, see this chart:
At the same time, in the initial stage of NUT token distribution, we will give priority to long-term PNUT holders and Nutbox global ambassadors for NUT airdrops, so that these long-term attention and optimistic partners for the Nutbox project will further promote the development of Walnut and Donut ecosystems.
If you want to become a Nutbox global ambassador, you can see the application method here
https://blog.nutbox.io/@nutbox.mine/nutbox-global-ambassador-program-or-nutbox
9.What's Nutbox's plan for the future?
We have a very detailed development and operation plan for this year. After the launching of Walnut main net, we are going to help some communities and provide a series of tools to help them start and operate CommunityFi, also make it work well. At the same time, we will establish contact with offline communities, we are hoping to reflect the blockchain technology into reality, so that some communities which are facing the dilemma of continuous development can burst into new vitality with the help of new technologies. After Donut goes online, it will participate in the Parachain slot auction. After becoming a Parachain, it will support more PoS chain communities to create CommunityFi.
For more details, see this chart: